By Lynne Adkins

By Lynne Adkins

PHILADELPHIA (CBS) – The Lenfest Foundation has been giving money away for years and that will continue, but co-founder Gerry Lenfest has stepped aside and been replaced as chairman of the board by 38-year-old Dr. Keith Leaphart, a Philadelphia native, who says the work will go on.

“Hopefully the legacy of Gerry and his approach to philanthropy, which was strong and always focusing on making an impact, will continue in youth development and hopefully we’ll be able to make the same impact on the kids’ life in the city of Philadelphia,” says Leaphart.

He says the Lenfest foundation will provide up to $100 million for projects assisting disadvantaged youth living in the city.