Tobacco bounty – Modest investments sprout

A former R.J. Reynolds employee who never earned more than $6,000 a year has bequeathed a fortune to the Winston-Salem Foundation.

When Pauline Carter died in February at the age of 89, she willed roughly $2 million to the foundation.

The Sam N. Carter and Pauline H. Carter Fund established from her gift is an endowed fund that will produce charitable income in perpetuity.

Mrs. Carter earned her millions when R.J. Reynolds was bought out in 1989. The former cafeteria worker netted $3 million, thanks to investments she had made in the tobacco company starting in 1937.

“Mrs. Carter was a lady who represents the changing face of philanthropy,” says Scott Wierman, the foundation’s president. “These days, the doors to giving and making a difference are wide open.”     

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