299:
to widen its focus to include civic, cultural, social, economic, and environmental needs. For the first time, The George Gund
Foundation began supporting community organizations and began making grants to nonprofits working in the areas of affordable housing, child abuse prevention, drug abuse prevention, gun control, and juvenile justice. Under Lipscomb's guidance, the foundation's assets grew significantly from 1970 to 1981, reaching $ 83 million ($ 278 million in 2023 dollars). By 1972,
259:, a small Cleveland bank. He was named a director of the bank in 1937, its president in 1941, and chairman of the board in 1962. Gund transformed the bank into Cleveland's largest bank; at the time of his death, it was the 18th largest bank in the United States. He was one of Cleveland's richest men at the time of his death in 1966, worth about $ 200 million ($ 1.83 billion in 2023 dollars).
380:
At the time of
Geoffrey Gund's retirement, The Gund Foundation was awarding about $ 25 million ($ 29.8 million in 2023 dollars) in grants annually and had a staff of 12. The fund had distributed $ 722 million in grants during its history, $ 584 million of which came during Geoffrey Gund's tenure
298:
In 1969, the foundation hired its first full-time staff person. This was James S. Lipscomb, and he served as executive director of The George Gund
Foundation from 1969 until his death in June 1987. During Lipscomb's tenure, the foundation trustees began re-examining the foundation's focus and decided
279:
At Gund's death in
November 1966, his estate was worth about $ 24.5 million ($ 230 million in 2023 dollars) after the payment of debts and fees. The bulk of his estate went to The George Gund Foundation. With this contribution, the fund's assets rose to just over $ 40 million ($ 376 million
314:
Hawley E. Stark retired from the board of trustees in 1973, and
Frederick K. Cox became the foundation's president. Geoffrey Gund joined the board in 1976. Henry C. Doll served as Acting Executive Director from Lipscomb's death until August 1988. He was succeeded as acting director in September 1988
287:; George F. Karch, chairman of the Cleveland Trust Company; Frederick K. Cox, vice chairman of the Cleveland Trust Company; and Hawley E. Stark, corporate legal counsel for the Cleveland Trust Company. The latter three were all George Gund II's close friends. Stark became the foundation's president.
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in 1955. By 1960, it had about $ 30 million ($ 309,000,000 in 2023 dollars) in assets. Disbursement of funds to various causes left The George Gund
Foundation with just $ 16.4 million ($ 161,100,000 in 2023 dollars) in assets by 1964. In the 1950s, the foundation focused primarily on education and
349:
By 2002, The Gund
Foundation's board of trustees had grown to eight. Six Gund family members were on the board of trustees, including newly appointed trustee Zachary Gund (Gordon's son). The foundation had also begun to expand its grantmaking to include boosting nonprofit organizations doing good
335:
to help construct its building. Made to help improve the city's cultural offerings in time for the city's bicentennial in 1996, it was the largest single grant in the foundation's history. By 2002, however, the foundation had given $ 25 million over several years to the
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Frederick K. Cox died in 1994, and
Geoffrey Gund became president. At the time he assumed the presidency, The Gund Foundation had just two full-time staff and was making about $ 3.5 million ($ 7.19 million in 2023 dollars) in grants annually.
885:
Tax-Exempt
Foundations and Charitable Trusts: Their Impact on Our Economy. Seventh installment. Subcommittee Chairman's Report to Subcommittee No. 1. Select Committee on Small Business. United States House of Representatives. 91st Cong., 1st
231:
into law on August 10, 1917, which banned the manufacture of retail liquor and beer for the duration of the emergency created by World War I. Unable to make beer, in May 1919 Gund purchased all 15,000 shares of the
American subsidiary of the
254:
in 1927 for $ 10 million ($ 175 million in 2023 dollars). Gund became a major stockholder in Kellogg's, and invested in banking, insurance, and real estate. Among his investments was the purchase of a significant amount of stock in the
310:
husband) had joined the board of trustees, and by 1986 there were seven staff working alongside the executive director. The foundation made $ 45 million in grants from 1970 to 1981, and another $ 50 million in grants from 1982 to 1988.
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In 2014, The George Gund Foundation joined Cuyahoga County in launching the nation's first county-level Pay for success (PFS) project aimed at reducing the amount of time children whose families are homeless stay in foster care.
531:
University Circle, Inc. is a nonprofit corporation which acts as an economic development organization, advocacy and lobbying agent, and area service provider for member institutions and businesses in Cleveland's
323:
In 1990, The George Gund Foundation had assets of about $ 303.5 million ($ 708 million in 2023 dollars), and donated just over $ 11.9 million ($ 28 million in 2023 dollars) in grants that year alone.
315:
by Richard M. Donaldson. David Bergholz, the assistant director of the Allegheny Conference on Economic Development, was named the new executive director in November 1988. He began his tenure in January 1989.
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about Gund's $ 600 million fortune in a 1971 article. Robert A. Musson, a historian of the Cleveland brewing scene, wrote in 2005 that Gund was worth $ 600 million at the time of his death. The magazine
393:
The George Gund Foundation's interests include: Arts, Economic Development and Community Revitalization, Education, Environment, and Human Services. The Foundation's focus is centered in
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In 1967, 1968, and 1969, The George Gund Foundation made $ 9 million worth of donations, of which $ 6.5 million went to name buildings and programs in honor of George Gund II.
381:
as president. With assets worth $ 486.9 million ($ 591 million in 2023 dollars) as of 2018, The George Gund Foundation was Cleveland's second-largest foundation, behind
1279:"Nation's First County-Level Pay for Success Program Aims to Reconnect Foster Children with Caregivers in Stable, Affordable Housing- Office of the Cuyahoga County Executive"
262:
At the end of 1953, The George Gund Foundation had assets worth just $ 166,878 ($ 1.92 million in 2023 dollars). The foundation received certification from the
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Promote environmental justice, creative culture and arts, public education, thriving families and social justice, vibrant neighborhoods, and an inclusive economy.
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198:. As of 2019, the foundation had made grants totaling more than $ 722 million since its inception. It is the second-largest charitable foundation in Cleveland.
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claim is contradicted by tax reports the foundation made to the U.S. federal government, which showed only about a $ 24 million donation after Gund's death.
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Gund had donated some of his fortune to the Gund Foundation, and distributed most of the rest to three trusts which benefitted his children.
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even claimed that Gund gave $ 600 million to the George Gund Foundation in 1952. Musson's claim is contradicted by the findings of the
377:
In November 2019, Geoffrey Gund retired as president of The George Gund Foundation. The board elected Catherine Gund as his successor.
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Bergholz retired at the end of 2002, and was succeeded by David Abbott, president of University Circle Inc. Abbott, a former
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in the 1960s and was blind by 1970. The Foundation Fighting Blindness does extensive research into retinitis pigmentosa.
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work but which needed funds to reorganize, reorient, or merely overcome bad luck in order to survive. Combined with the
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grants were small, ranging from $ 10 to $ 10,000. Grant amounts began to become substantially larger after 1960.
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that bolsters its work locally. The Foundation only makes grants to 501(c)(3) organizations and to qualified
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Subcommittee of the Committee on Ways and Means; Subcommittee of the Committee on Foreign Relations (1926).
480:
439:
1467:
Affordable Housing in U.S. Shrinking Cities: From Neighborhoods of Despair to Neighborhoods of Opportunity?
267:
163:
358:
354:, the foundation's endowment had shrunk slightly to $ 425 million ($ 720 million in 2023 dollars).
250:. Spending just $ 318,768 ($ 5.6 million in 2023 dollars) to purchase the company, Gund sold it to
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519:
488:
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Assets were $ 15.75 million in 1968 and $ 56 million ($ 408 million in 2023 dollars) in 1972.
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Stark became a trustee of the foundation in the early 1960s. Gordon Gund became a trustee in 1965.
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428:
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In the 1990s, The Gund Foundation gave $ 15 million ($ 29.1 million in 2023 dollars) to the
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George Gund II's death left the foundation in the hands of four trustees: His 27-year-old son,
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Glenn, Brandon. (July 11, 2005.) “Gund Foundation awards grants.” Crain’s Cleveland Business.
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and environmental degradation, economic inequality, racial inequity, and weakened democracy;
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Silverman, Robert Mark; Patterson, Kelly L.; Yin, Li; Ranahan, Molly; Wu, Laiyun (2016).
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187:
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739:
Nussbaum, John (March 1, 1967). "Three Forgeries Uncovered in Gund's Art Collection".
672:
Return of Alien Property. United States House of Representatives. 69th Cong., 1st sess
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398:
998:
Barmann, George J. (March 26, 1972). "Gund Foundation Helps Enrich Cleveland Area".
894:
361:
administrator, worked closely with The Gund Foundation as executive director of the
1177:
O'Connor, Clint (July 20, 1996). "Public Gets Peek at Science Center". p. A10.
1103:"Geoffrey Gund to retire as Gund Foundation president, Catherine Gund to take over"
883:
476:
251:
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1444:
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1364:
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976:
Huszar, Kenneth D. (February 3, 1967). "Gund Foundation Chief Is Civic Minded".
284:
237:
223:. Gund inherited a sizeable brewing industry fortune from his father. President
397:, though a portion of the Foundation's grantmaking supports state and national
1135:
Sheehan, Andrew (November 5, 1988). "Leader in Allegheny Conference to Quit".
402:
304:
92:
1193:
Patton, Susan Ruiz (September 26, 2002). "Gund Foundation marks 50 years".
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433:
1304:"Geoffrey Gund to retire from The George Gund Foundation after 43 years"
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256:
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A number of sources claim Gund's fortune was actually $ 600 million.
247:
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and as executive director of the Cleveland Bicentennial Commission.
1366:
American Philanthropic Foundations: Regional Difference and Change
688:"Coffee Heir Became A Billionaire With An Early Bet On Invisalign"
889:. Washington D.C.: U.S. Government Printing Office. p. 118.
469:$ 18.9 million of Gund's estate consisted of stock. According to
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675:. Washington, D.C.: Government Printing Office. p. 31.
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Showplace of America: Cleveland's Euclid Avenue, 1850-1910
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established in 1952 to provide grants in the areas of the
644:""Kaffee-Hag" Shares Sold By Alien Property Custodian"
596:
594:
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newspaper, the largest holdings were $ 8.7 million of
1302:
Washington, Roxanne; Dealer, The Plain (2019-11-13).
797:"Agnes Gund, Art's Grande Dame, Still Has Work to Do"
447:, which found an estate worth just $ 25 million. The
882:
Select Committee on Small Business (June 30, 1969).
211:
The George Gund Foundation was created in 1952 as a
1208:Grimsley, Will (November 8, 1978). "Inner Vision".
1020:"James Lipscomb, director of the Gund Foundation".
562:"Foundations on list post 10.6% increase in giving"
346:, Agnes Gund's daughter, joined the board in 1998.
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1363:Hammack, David C.; Smith, Stephen Rathgeb (2018).
1038:. Washington, D.C.: Taft Corp. 1983. p. 239.
240:, which had developed a process for manufacturing
16:Private foundation based in Cleveland, Ohio, U.S.
1369:. Bloomington, Ind.: Indiana University Press.
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846:"Foundation to Receive Bulk of Gund's Estate".
1162:"Frederick Cox, Banker, George Gund Advisor".
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769:Hershey, Robert D. Jr. (December 26, 1971).
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1446:Last Call: The Rise and Fall of Prohibition
1384:Keele, Harold M.; Kiger, Joseph C. (1984).
1348:. Kent, Ohio: Kent State University Press.
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826:"Gund's Estate Nets Ohio a Mere $ 9,091".
103:Grants, program related investments (PRIs)
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1428:. Charleston, S.C.: Arcadia Publishing.
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1101:Kilpatrick, Mary (November 13, 2019).
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1388:. Westport, Conn.: Greenwood Press.
864:"Gund Leaves Millions to Charity".
560:Soder, Chuck (September 15, 2019).
686:Metcalf, Tom (November 30, 2017).
14:
1517:Organizations established in 1952
1166:. February 13, 1994. p. B10.
268:501(c)(3) charitable organization
1512:Organizations based in Cleveland
1407:. Washington, D.C.: Taft Group.
1127:"Development Aide Accepts Job".
1064:. September 2, 1988. p. B3.
1060:"New Chief at Gund Foundation".
868:. November 30, 1966. p. 11.
795:Colacello, Bob (December 2015).
758:. February 10, 1991. p. 39.
1470:. Bristol, U.K.: Policy Press.
1405:Guide to Private Fortunes, 1993
850:. November 29, 1966. p. 2.
485:Northern Life Insurance Company
1253:"University Circle Inc. (UCI)"
1227:"Gund Foundation picks Abbott"
1131:. November 5, 1988. p. C3
1079:. March 13, 1973. p. A16.
754:"Gund Funds: Giving It Away".
319:Berholz executive directorship
1:
1492:The Gund Foundation home page
830:. August 18, 1967. p. 5.
626:"Kaffee-Hag Corporation Sold"
487:stock, and $ 1.05 million in
369:Abbott executive directorship
338:Foundation Fighting Blindness
944:. April 10, 1966. p. 9.
630:Tea and Coffee Trade Journal
352:recession that began in 2001
1522:1952 establishments in Ohio
1283:executive.cuyahogacounty.us
1024:. June 6, 1987. p. B9.
30:; 72 years ago
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1422:Musson, Robert A. (2005).
1403:Maggard, Margaret (1993).
1231:Crain's Cleveland Business
771:"Shadow of the Old School"
566:Crain's Cleveland Business
363:Rock and Roll Hall of Fame
333:Great Lakes Science Center
219:, a businessman living in
160:The George Gund Foundation
20:The George Gund Foundation
1257:Encyclopedia of Cleveland
483:stock, $ 1.15 million in
229:Food and Fuel Control Act
1210:Bowling Green Daily News
1036:Taft Foundation Reporter
940:"Top Funds Are Listed".
928:Hammack & Smith 2018
895:2027/umn.31951d03558743o
650:. June 1919. p. 725
632:. June 1919. p. 540
479:stock, $ 1.5 million in
383:The Cleveland Foundation
303:and Albrecht Saalfield (
264:Internal Revenue Service
1443:Okrent, Daniel (2010).
1137:Pittsburgh Post-Gazette
692:Private Wealth Magazine
257:Cleveland Trust Company
74:45 West Prospect Avenue
72:1845 Guildhall Building
1449:. New York: Scribner.
1342:Cigliano, Jan (1993).
964:Keele & Kiger 1984
866:Mansfield News-Journal
518:Gordon Gund developed
586:Silverman et al. 2016
176:community development
164:charitable foundation
57:Combat climate change
1425:Brewing in Cleveland
520:retinitis pigmentosa
405:units and agencies.
184:environmental policy
180:economic development
648:Simmons' Spice Mill
294:Expansion in vision
21:
1233:. October 10, 2002
1075:"Gund President".
913:has generic name (
775:The New York Times
429:The New York Times
280:in 2023 dollars).
213:private foundation
109:Executive Director
534:University Circle
395:Greater Cleveland
275:Transition period
196:racial inequality
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