A $111 million gift from the estate of steel heiress Dora Donner Ide will add to the endowments of 29 nonprofit groups in San Francisco and throughout the U.S., the San Jose Mercury News reported Oct. 17.
Ide, who died in 1998, willed her estate to national arts, academic, health and public service charities.
In her will, Ide specified that her gifts be added to each organization’s endowment and not be used for operating expenses.
Selected organizations must already have an endowment twice the size of the gift.
The San Francisco Foundation will hold the money for any organizations that do not meet the requirement until their endowments are increased, the Mercury News said.
Four groups, including KQED will operate under such an agreement.
For full story, go to the San Jose Mercury.