Nathan Cummings Foundation
The Nathan Cummings Foundation was endowed by Nathan Cummings (1896–1985), founder of Consolidated Foods, later renamed Sara Lee. Cummings was also a prominent art collector and supporter of Jewish causes.[2]
 | |
| Founded | 1949 |
|---|---|
| Founder | Nathan Cummings |
| Type | Non-operating private foundation (IRS exemption status): 501(c)(3) |
| Focus | Inequality, Climate change |
| Location | |
| Method | Donations and Grants |
Key people | Sharon Alpert, President & CEO |
Revenue (2015) | $27,058,441[1] |
| Expenses (2015) | $23,691,033[1] |
| Endowment | US$415 million |
In his lifetime, Cummings made contributions to hospitals, universities, and the arts. His endowment created the Nathan Cummings Arts Center at Stanford University and the Joanne and Nathan Cummings Art Center at Connecticut College in New London. He made major contributions to the National Gallery of Art in Washington DC, to the Metropolitan Museum of Art, New York, and to the Art Institute of Chicago. The foundation received most of his estate (then estimated at $200 million) upon his death in 1985.
Shareholder activism
The Nathan Cummings Foundation is one of eight institutional investors represented by the Shareholder Rights Projects, which worked to present shareholder declassification proposals in S&P 500 annual meetings.[3]:161
References
- "The Nathan Cummings Foundation, Inc" (PDF). Foundation Center. 22 November 2016. Retrieved 11 July 2017.
- "About the Foundation | Nathan Cummings Foundation". www.nathancummings.org. Retrieved 13 January 2017.
- Hirst, Scott; Bebchuk, Lucian; Rhee, June (2013-04-01). "Towards the Declassification of S&P 500 Boards". Harvard Business Law Review. 3 (1): 157.