Howard Levine offers $1M challenge for Providence Day

Former Family Dollar CEO Howard Levine and his wife Julie announced this week that they intend to match 2-for-1 the next $500,000 given toward a campaign to expand Charlotte’s Providence Day School.

The Levine challenge came with news the school has already raised $19 million toward the $27 million campaign, which will pay for construction of a four-story, 80,000-square-foot academic center, a two-story parking deck and a campus gateway building to serve as a welcome center.

School officials said the Levines had previously given $1 million toward the campaign, making for a potential gift of $2 million. Two other Providence Day families have also contributed $1 million each: Brian and Amy France, and Michael DeMayo.

Howard and Julie Levine emerged last year as two of North Carolina’s leading philanthropists by donating $45 million to a fund managed by Foundation for the Carolinas. That fund is now one the state’s largest donor-advised funds, exceeding $65 million. The Levines plan to give away about 5 percent of the balance each year.

“Julie and I were early investors in the (Providence Day) campaign...because of our strong belief in this school, its leadership, and the very clear and compelling impact that this effort will have on teaching and learning,” Howard Levine said during a Wednesday groundbreaking ceremony.

Construction of the Academic Center, Campus Gateway and parking deck will begin this summer, in hopes of completion in fall of 2017, officials said.

The campaign also seeks to double the school’s endowment to $12 million and raise $6 million for the annual fund, officials said.

This story was originally published May 25, 2016 at 7:30 PM with the headline "Howard Levine offers $1M challenge for Providence Day."