Benwood Foundation

The Benwood Foundation is a charitable foundation created in 1944 by George Hunter in honor of his uncle, Benjamin Thomas who pioneered the Coca-Cola bottling industry and founded the Coca-Cola Bottling Company. George Hunter was the heir of Benjamin Thomas, and much of the wealth related to the Coca-Cola Bottling Company passed on to the Foundation. As of 2004 The Benwood Foundation distributes between $4 and $5 million annually in grants and donations.[2]

Benwood Foundation
MottoThe Benwood Foundation supports innovative community efforts that help to make Chattanooga great
Formation1944
TypeCharitable Foundation
HeadquartersChattanooga,TN, United States
President
Sarah Morgan
Revenue (2015)
$6,579,953[1]
Expenses (2015)$11,100,092[1]
Websitewww.benwood.org

History

Upon George Hunter's death in 1950, 70 percent of the Coca-Cola Bottling Company stock went to the Foundation. This led to a probate law precedent-setting lawsuit when family members sued regarding the tax status of the donation. A 1952 court ruling stated that the Foundation did not have to pay death duties, which became the responsibility of the residuary estate. The ruling was upheld on appeal.[3]

Focus

The Foundation's grantmaking focus is on Public Education, Arts & Culture, the Environment, and Neighborhood & Community Development.

See also

References
  1. "Benwood Foundation Inc" (PDF). Foundation Center. Retrieved 22 June 2017.
  2. Benwood Foundation Taking Time To Reassess Archived 2007-05-20 at the Wayback Machine, The Chattanoogan, December 12, 2004
  3. Ned L. Irwin (1998). "Benwood Foundation". The Tennessee Encyclopedia of History and Culture.
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