WENTWORTH, N.C. – The McMichael Family Foundation in Wentworth will get more than $25 million from the estate of textile executive Dalton L. McMichael Sr., who died in July at age 87, the News-Record in Greensboro reported Aug. 23.
McMichael, who lived in Rockingham County all his life and founded Madison Throwing Co., Macfield Inc., Vintage Yarns and Mayo Yarns, left an estate worth nearly $37 million, according to his will filed last week in Superior Court, the News-Record said.
While he left the bulk of the estate to the foundation, the will also specifies that the estate pay pledges of $475,000 to Winston-Salem State University and $500,000 to the School of Medicine at Wake Forest University that he made before his death.
The will also leaves $100,000 to Madison Presbyterian Church and $500,000 to Union Theological Seminary in Virginia.
Over the past three years, the foundation has given more than $760,000 to 40 groups, many in Rockingham County.
For full story, go to the News-Record.