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$97 million donation to Lancaster's High Foundation is expected to benefit affordable housing and environmental issues in the county. The foundation nearly doubled its assets at the end of 2023 after Chair S. Dale High donated nearly all of his company, High Real Estate Group, to the philanthropic nonprofit. This donation has catapulted High Foundation to lead Lancaster County public and private foundations by more than $70 million in total assets.
High Foundation's Chair, S. Dale High, stated that the ownership arrangement has worked as intended, providing substantial dividends for direct reinvestment back into the communities where they operate. The foundation gives millions of dollars in annual grants focused on housing, education, arts, and human services to Lancaster County organizations. In 2023-2024, it spent $6.8 million on grants, accounting for 80% of its spending that fiscal year.
High Foundation has already started partnering with organizations to meet their housing and environment goals. Its recent impact report listed financial support for local organizations, including the Lancaster Redevelopment Fund and Lancaster Clean Water Partners. The foundation's presenting sponsorship of Lancaster Water Week and support of key Lancaster Conservancy projects have a tangible and lasting impact on the environment.
High Foundation holds 97% of High Real Estate and High Industries as non-voting shares, reaping financial benefits without direct influence over company decision-making. Another High nonprofit, High Holdings Corporation, provides governance oversight to ensure the companies achieve shareholder objectives. One objective is to pay High Foundation dividends for community grants, which would be addressed by High Holdings if they stopped paying.
The donation has propelled High Foundation to rank in the top 15 foundations in the Philadelphia area, surpassing any other public or private foundation in Lancaster County. However, it's worth noting that High Foundation's fiscal year ends in June, months before the standard December end for most foundations.
