Knowledge Center | Book Chapter

Managing a Family Philanthropy

February 20, 1999 | Claude O. Norcott, Joseph Foote
When Gilbert Mead’s father, a Wisconsin paper industrialist, died in 1988, leaving Gil, then 58, and his four grown children a substantial inheritance, he and his wife, Jaylee, did what they thought was right: they decided to set up a philanthropic foundation. Read More
Knowledge Center | Book Chapter

Considering the question of perpetuity

February 20, 1999 | Vince Stehle
Although there is some debate within philanthropy about the question of perpetuity, in the end no single correct approach is right for all donors. The decision to create a foundation for the ages or for the moment is a highly individual choice. It should be guided by the philanthropic goals laid out by donors and their families. Read More
Knowledge Center | Book Chapter

Connecting with the Larger World of Philanthropy

February 20, 1999 | Claude O. Norcott, Joseph Foote
Some donors are just not joiners. The director of one medium-sized California family foundation, established by a high-tech entrepreneur, describes how the donor “never attends meetings, never participates in anything else smacking of organized philanthropy. He is, however, a voracious reader on the subject and is probably as well-informed as anybody you will ever meet in the field of philanthropy.” Read More
Knowledge Center | Book Chapter

Choosing legal and investment advisors

February 20, 1999
Fully aware that every family foundation must have sound legal and financial advice, the Tow Foundation of New Canaan, Connecticut, looked to trusted employees of the family company. The company’s long-time general counsel sits on the foundation’s board as secretary and general counsel. The company’s longtime chief financial officer serves as foundation treasurer and manages the investment portfolio of about Read More
Knowledge Center | Book Chapter

Grantmaking Programs

February 18, 1999 | Deanne Stone
With assets of $25 million, the Durfee Foundation currently allocates approximately$1 million a year in grants. The programs it supports reflect the personality and values of its founder, Stan Avery. Ironically, the grantrnaking philosophy and practices initiated by the second generation and fleshed out by the third generation capture Stan’s spirit in ways that his own grantrnaking never did. An Read More
Knowledge Center | Book Chapter

The Family Foundation

February 18, 1999 | Deanne Stone
The family foundation Stan and Dorothy Avery founded in 1960 was originally called the Avery Foundation and, in the early years, served as a pass-through foundation. After Dorothy Avery’s death in 1964, half of her stock in the Avery Corporation was given to the foundation. At the time, the one million shares of stock had a market value of about Read More
Knowledge Center | Book Chapter

R. Stanton Avery

February 18, 1999 | Deanne Stone
By all accounts, R. Stanton Avery was a gentle man. His family remembers him as down-to-earth, soft-spoken, a good listener, and unfailingly polite – traits not usually associated with the entrepreneurial personality. The inventor of the first commercially feasible self-adhesive label machine, Stan founded Avery International which, since merging with Dennison Manufacturing Company in 1990, is known as Avery Dennison. Read More