Benwood Foundation

The Benwood Foundation is a charitable foundation created in 1944 by George Hunter in honor of his uncle, Benjamin Thomas who pioneered the Coca-Cola bottling industry and founded the Coca-Cola Bottling Company. George Hunter was the heir of Benjamin Thomas, and much of the wealth related to the Coca-Cola Bottling Company passed on to the Foundation. As of 2004 The Benwood Foundation distributes between $4 and $5 million dollars annually in grants and donations. [ [http://www.chattanoogan.com/articles/article_60035.asp Benwood Foundation Taking Time To Reassess] , The Chattanoogan, December 12, 2004]

History

Upon George Hunter's death in 1950, 70 percent of the Coca-Cola Bottling Company stock went to the Foundation. This led to a probate law precedent-setting lawsuit when family members sued regarding the tax status of the donation. A 1952 court ruling stated that the Foundation did not have to pay death duties, which became the responsibility of the residuary estate. The ruling was upheld on appeal. [cite_encyclopedia|title=Benwood Foundation |url=http://tennesseeencyclopedia.net/imagegallery.php?EntryID=B035 |encyclopedia=The Tennessee Encyclopedia |author=Ned L. Irwin |date=1998]

Focus

The Foundation's grantmaking focus is on Public Education, Arts & Culture, the Environment, and Neighborhood & Community Development.

ee also

* Benjamin Thomas
* George Hunter

External links

* [http://benwood.org The Benwood Foundation Website]

References