Daniels Fund gives $1B to down & out

Filed under: Week in Business |

Late cable magnate Bill Daniels set up a philanthropic fund prior to his death last spring. The Daniels Fund allots $1 billion to provide assistance to alcoholics, the elderly, the homeless, the disabled and low-income students seeking to further their education. Approximately $50 million will have to be donated yearly to meet tax-exempt status requirements. Seventy-five percent of the money the fund donates will stay in Colorado.