Encyclopedia Dubuque
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WAHLERT FOUNDATION: Difference between revisions
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WAHLERT FOUNDATION. Philanthropic organization making donations, gifts and grants to charitable, civic, educational and religious organizations throughout the United States. Established in December 1948 by [[ | WAHLERT FOUNDATION. Philanthropic organization making donations, gifts and grants to charitable, civic, educational and religious organizations throughout the United States. Established in December 1948 by [[WAHLERT, Harry|Harry WAHLERT]], the Foundation was formed to solve an estate problem, donate money to other organizations, and continue control of the packing company. | ||
In 1969 a federal law forced the to foundation divest itself within ten years of company stock and give up control of the packing company. The foundation sold its 200,000 shares back to the company after Harry Wahlert's death in 1974 for $1.4 million. Independent since that sale, the foundation invested in common stock. | |||
In its first sixty years, the foundation donated between $13-$15 million with about 95% going to local charities. The foundation receives between 74-100 requests annually. The board meets annually in September to decide which charities to assist. Among the recipients have been [[WAHLERT HIGH SCHOOL]]. [[LORAS COLLEGE]] received money for the construction of the Wahlert Library and St. Joseph Science Hall. Contributions to [[CLARKE COLLEGE]] resulted in the construction of the Wahlert Sports Complex. | |||
Revision as of 00:09, 11 August 2008
WAHLERT FOUNDATION. Philanthropic organization making donations, gifts and grants to charitable, civic, educational and religious organizations throughout the United States. Established in December 1948 by Harry WAHLERT, the Foundation was formed to solve an estate problem, donate money to other organizations, and continue control of the packing company.
In 1969 a federal law forced the to foundation divest itself within ten years of company stock and give up control of the packing company. The foundation sold its 200,000 shares back to the company after Harry Wahlert's death in 1974 for $1.4 million. Independent since that sale, the foundation invested in common stock.
In its first sixty years, the foundation donated between $13-$15 million with about 95% going to local charities. The foundation receives between 74-100 requests annually. The board meets annually in September to decide which charities to assist. Among the recipients have been WAHLERT HIGH SCHOOL. LORAS COLLEGE received money for the construction of the Wahlert Library and St. Joseph Science Hall. Contributions to CLARKE COLLEGE resulted in the construction of the Wahlert Sports Complex.