Daily News Roundup: Pa. Financier Leaves $800 Million to Family Foundations

Henry Hillman Bequest Means Huge Boost to Pittsburgh-Area Giving: The late financier’s home region is expected to get the lion’s share of giving from his $800 million estate, writes the Pittsburgh Post-Gazette. The Henry L. Hillman Foundation will receive $700 million and expects to increase annual grant making from $7 million to $40 million; the remaining $100 million will be divided among 13 other family foundations.

Peabody Essex Museum Hires Neuroscientist to Enhance Visitor Experience: The one-year appointment of a Harvard-trained neuroscientist, funded by the Barr Foundation, is part of five-year plan to design and build more multisensory and interactive exhibits for the New England museum, writes The Boston Globe.

JPMorgan Chase Shifts Philanthropy Toward Strengthening Private Sector: Amid praise from Detroit officials for its philanthropic efforts and investments in the city, the bank has begun to focus on job training, small-business development, and community-revitalization efforts, writes Fortune. Much of the $150 million it has committed to Detroit comes in the form loans to business ventures that would have trouble attracting financing otherwise. Read a Chronicle opinion column about corporate giving that follows David Rockefeller’s lead.

Affordable-Housing Program Costs More Than 20 Years Ago but Serves Fewer People: A federal tax-credit program meant to stimulate the development of low-cost housing cost taxpayers 66 perfect more in 2014 than in 1997 — but resulted in 11,000 fewer units being built, NPR and PBS’s Frontline report. Mounting construction costs, a decline in grants, and fraud are among the reasons.