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Thread: We need some of his his money!

  1. #1
    Senior Member giambjj's Avatar
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    We need some of his his money!

    PHILADELPHIA, Pennsylvania (AP) -- H.F. "Gerry" Lenfest and his wife, Marguerite, have given away about a third of their $1 billion fortune over the past four years, and they say they want to give it all away before they die.

    After four decades building a cable television business that made them one of America's wealthiest couples, the Lenfests are spending the profits on charity.

    Their three children -- already wealthy from the sale of the cable business to Comcast -- will get no more money if the couple have their way. The couple also wants foundations that survive them to have spent every penny within 20 years of their deaths.

    Gerry Lenfest, 73, said he saw many charitable institutions lose effectiveness after their founders died and decided the bulk of the family's fortune should not end up in long-lasting endowments.

    "During your lifetime, you can direct how your wealth is spent for the most good," he said. "But after your death, it is problematic. You don't have the control."

    So far, the couple have given or pledged about $325 million of their earnings from the sale of the cable business the family began building in 1974.

    Columbia University, Wilson College and Washington and Lee University have each received gifts of between $16 million and $18 million. The Philadelphia Museum of Art, the Kimmel Center for the Performing Arts, and the Chesapeake Bay Foundation are among many organizations that have received Lenfest money.

    Gerry Lenfest was a lawyer and an executive at Triangle Publications, a company owned by another philanthropist, Walter Annenberg, when he borrowed $2.3 million to buy a small cable television system in Lebanon, Pennsylvania.

    When Lenfest sold the system to Comcast Corp. in 2000, it had grown to 1.2 million subscribers in Pennsylvania, New Jersey and Delaware. The sale netted the Lenfest family about $1.2 billion.

  2. #2
    Senior Member Leo's Avatar
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    that would be sweet, but just reading from their web site, this seems to be their focus,
    The Foundation makes grants initiated by its Board of Directors to nonprofit organizations for specific projects or activities of interest.

    Depending on available resources, the Foundation may make a limited number of grants in response to requests consistent with its overall mission. The Foundation will consider requests for project and operating support. However, because the Foundation's funding priorities are its core rural education programs and grants initiated by its Board of Directors, most of the requests received are declined.

    But one never knows, http://www.lenfestfoundation.org/LffHome.htm

    "All you have to decide is what to do with the time that is given you."
    Gandolf the Gray

  3. #3
    Banned Faye's Avatar
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    Originally posted by Dr. J. J.:

    PHILADELPHIA, Pennsylvania (AP) -- H.F. "Gerry" Lenfest and his wife, Marguerite, have given away about a third of their $1 billion fortune over the past four years, and they say they want to give it all away before they die.
    Dr. J.J. Would you be interested In making contact with Gerry Lenfest? I had already sent an early morning e-mail to Bernard Siegel of the Genetics Policy Institute about Gerry Lenfest.
    I'd like us to help out the Stem Cell Action Network and the Genetics Policy Institute who are working together closely. They are wanting to hire a Public Relations Consulting firm and are looking for someone with the funds to do this.
    So, Dr. J.J. would you be willing to work on our SCI CURE ADVOCACY team to help make some of these things happen?

    We'd love to have you join us.

    Thanks,

    Faye

    "Together we stand, divided we fall..."

  4. #4
    Banned Faye's Avatar
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    Just checked their related site. (Thanks Leo for posting it)

    The Foundation generally does not support:

    · Grants to individuals

    · Organizations or programs that deal with health issues, medical research or medical treatment

    · Religious programs or activities
    So I guess this philanthropist won't help us

    "Together we stand, divided we fall..."

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