Ford (F) Charitable Fund Delays Last Payment of $4 Million to University of Michigan
The philanthropic arm of cash-strapped Ford Motor (NYSE: F) informed the University of Michigan this week it needs to delay the last payment of a $4 million donation for programs in Ann Arbor and Dearborn, the university has confirmed.
U of M had been expecting the last payment in a five-year pledge from the Ford Fund of $800,000 by next June, but the payment is scheduled to be delayed by a year.
U of M did say it did not believe the current liquidity problems at Ford were a factor in the delay.
Ford Motor Company (Ford) is a producer of cars and trucks.
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