America’s Newest Mega Grant Maker
from Chronicle of Philanthropy:
Three philanthropies created by Margaret A. Cargill, an heir to the Cargill Corporation who died in 2006, are poised to become, collectively, the third-wealthiest grant maker in the United States.
The infusion of money – which could total roughly $9-billion – would come as part of a deal that is expected to enable the philanthropies to convert illiquid shares in the private Cargill Corporation, left to them by Ms. Cargill, into shares in Mosaic, a public company owned largely by Cargill, an international agricultural, food, and financial company.
…The Margaret A. Cargill Foundation has a broad mandate. It will eventually support many causes: animal welfare; arts and culture; care for the elderly; children and families; the environment; and relief, recovery, and development. Its grant making in arts and culture, the environment, and relief and development is scheduled to begin this year.