America’s Newest Mega Grant Maker

from Chronicle of Philanthropy:

With an Expected $9-Billion Windfall, the Cargill Philanthropies Could Become America’s Third Largest Grant Maker

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.