Founded in 1984, the Community Foundation for Southeastern Michigan aims to enhance quality of life in southeast Michigan. As of 2016, the foundation held over $800 million in total assets. Its grantmaking, which disbursed $73 million through 3,800 grants in 2016, focuses on supporting initiatives that prioritize sustainability, have regional impact, can leverage additional dollars, and include collaboration. In 2007, in response to the state’s deteriorating economy, the foundation catalyzed the New Economy Initiative (NEI), an effort that brought together 10 foundations to establish a $100 million fund to diversify the regional economy and stimulate entrepreneurial development. Since 2009, NEI has awarded over $96 million to projects credited with creating 1,610 new companies and adding nearly 17,500 new jobs to the region. To ensure NEI’s continuation, $33.25 million was added to the fund in 2013.