WASHINGTON — She couldn’t exactly drop this donation into a Salvation Army red kettle at Christmastime. So the late Joan B. Kroc, widow of the founder of McDonald’s Corp., left her staggering donation to the faith-based charity in her will. It’s a gift that will likely exceed $1.5 billion, and make it the largest donation to a charitable organization in history.
The Salvation Army announced the gift Jan. 20. Trustees of the estate will not know the exact amount of the donation until administration of Kroc’s estate is complete.
Kroc died Oct. 12, 2003, leaving considerable gifts to several nonprofit organizations, including a $200 million gift to National Public Radio. But the Salvation Army gift was by far the largest bequest from her estate, according to her attorneys.
“We are obviously thrilled, but genuinely humbled by the exceptional generosity of Joan Kroc,” Todd Bassett, national commander of the Salvation Army, said in a statement. “Mrs. Kroc was a wonderful friend of the Salvation Army and we miss her. Her passion for children and families, and her hope for community peace will live on forever through this incredible gift.”
Kroc’s gift to the Salvation Army came with specific instructions regarding its use. Bassett said half the money will be placed in an endowment with the earnings used as income to partially support operation of future centers.
The other half is for the construction of new centers across the United States. The money will be divided in half and distributed to the four geographic territories that comprise the Salvation Army in the United States, according to Bassett.
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