Those objectives include revitalizing city-owned properties, and various marketing efforts. <\/p>\n
In a statement, Linda McMahon, the group\u2019s president and CEO, called the grant a \u201ctransformative investment\u201d that strengthens the nonprofit and \u201cvalidates the importance of our mission.\u201d <\/p>\n
Business Briefing<\/p>\n
By signing up, you agree to our\u00a0Terms of Service<\/a>\u00a0and\u00a0Privacy Policy.<\/a><\/p>\n \u201cWe look forward to rallying additional investors to amplify the impact of this gift across our city,\u201d she added. <\/p>\n Wayne White, president and CEO of the Communities Foundation of Texas, called the grant \u201ca strategic investment in Dallas\u2019s economic future.\u201d<\/p>\n The Communities Foundation of Texas, which was founded in Dallas in 1953, now ranks as one of the state\u2019s largest philanthropic groups. It awards thousands of grants annually to area nonprofits, and distributed $158 million in fiscal year 2024. <\/p>\n The EDC grant will come through various \u201cunrestricted and field of interest charitable endowment legacy funds\u201d that are managed by the foundation, according to a Dallas EDC representative. <\/p>\n From left: the Mercantile Building, which is terminating all of its leases due to a leak and noxious odor; the Comerica tower, whose namesake tenants are eyeing an Uptown move; and 1700 Pacific, which is a shell of its former self<\/p>\n Robert Wilonsky<\/p>\n In 2022, the Dallas City Council greenlit a plan to use $7 million in federal pandemic relief money to create a new nonprofit \u2015 the EDC \u2015 focused on helping drive the city\u2019s economic growth, particularly in southern Dallas and other struggling areas. <\/p>\n The new funding comes as the specter of a more uncertain future looms over downtown, one area of focus for the nonprofit.<\/p>\n![\"From](\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2025\/11\/OLQCY2ZFGFBNZHTNUY7ISEQ5GY.JPG\")
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