Stewart W. Bainum Sr.
Stewart William Bainum Sr. (1919–2014) was an American businessman and philanthropist. He was the founder, chairman and chief executive officer of Choice Hotels, a hotel chain, and HCR Manor Care, a retirement facility chain. He was the founder of the Commonweal Foundation (now known as the Bainum Family Foundation), a philanthropic organization.
Stewart W. Bainum Sr. | |
|---|---|
| Born | Stewart William Bainum June 10, 1919 Detroit, MI, U.S. |
| Died | February 12, 2014 (aged 94) Baltimore, MD, U.S. |
| Education | Mount Vernon Academy |
| Alma mater | Washington Adventist University (did not graduate) |
| Occupation | Businessman |
| Spouse(s) | Jane Goyne |
| Children | 2 sons (including Stewart W. Bainum Jr.), 2 daughters |
| Relatives | Duke Bainum (nephew) |
Early life
Stewart W. Bainum Sr. was born on June 10, 1919 in Detroit, Michigan.[1] His father, Charles Bainum,[2] worked for the Ford Motor Company in Detroit until he was dismissed during the Great Depression and worked for the Works Progress Administration in Cincinnati, Ohio.[1] He had two brothers, Robert and Irvin,[2] and a sister, June Hill.[1]
Stewart was educated at the Mount Vernon Academy, a Seventh-day Adventist boarding school in Mount Vernon, Ohio.[1] He dropped out due to financial distress, but graduated years later.[1] Meanwhile, attended the Washington Adventist University.[1]
Business career
Bainum hitch-hiked to Washington, D.C. in 1936,[2] where he took menial jobs.[1] With his savings, he started a plumbing business.[1] He later became a real estate developer and real estate investor.[1] He served as the chairman of Realty Investment Co.[1]
Bainum was the co-founder of a hotel in Silver Spring, Maryland in 1957.[1][2] Over the years, he opened more hotels and founded Quality Inns International, later known as Choice Hotels.[1] He served as its chairman and chief executive officer until 1987, and served on its board of directors until 2000.[1]
Meanwhile, Bainum opened a retirement facility with his brother in 1960.[1] Over the years, he opened over 200 retirement facilities and established Manor Care. Through a 1998 merger with the Health Care and Retirement Corp., it became known as HCR Manor Care.[1] He served as its chairman and chief executive officer until 1987 and served on its board of directors until 2000.[1]
Philanthropy
Bainum co-founded the Commonweal Foundation, now known as the Bainum Family Foundation,[3] with his wife in 1968.[1][4] Through their foundation, they donated US$12 million to students from lower socio-economic backgrounds in Washington, D.C. and Baltimore.[1] Moreover, under the aegis of the I Have A Dream Foundation, he covered the college tuition of Kramer Junior High School graduates in 1988.[1]
Personal life
Bainum married Jane Goyne.[1][2] They resided in Silver Spring, followed by Chevy Chase, Maryland.[1] They had two sons, Stewart W. Bainum Jr. and Bruce Bainum, and two daughters, Barbara and Roberta.[1]
Death
Bainum died of pneumonia on February 12, 2014 at the Johns Hopkins Hospital in Baltimore, Maryland.[1]
References
- Langer, Emily (February 19, 2014). "Stewart W. Bainum Sr., D.C. businessman, dies". The Washington Post. Retrieved November 16, 2015.
- Wright, Jared (February 14, 2014). "Stewart Bainum Sr., Adventist Businessman and Philanthropist Dies". Spectrum. Retrieved November 16, 2015.
- https://bainumfdn.org/bainum-family-foundation-name-transition-press-release/
- Kapp, Diana (August 29, 2014). "Picking Up an Elusive College Dream". The New York Times. Retrieved November 16, 2015.