Net Present Value: Billions served, millions donated!

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Friday, November 7, 2003

Billions served, millions donated!

NPR will receive $200M+ from the widow of the longtime McDonald's chairman according to this New York Times story (registration required):

The gift is the largest in the 33-year history of NPR, the nonprofit broadcasting corporation — and about twice the size of NPR's annual operating budget. It is believed to be among the largest ever pledged to an American cultural institution.

The gift, which is largely in cash and will be made available to NPR early next year, is included in the will of Joan B. Kroc, 75, the widow of Ray A. Kroc. Mrs. Kroc, who died on Oct. 12, was a former owner of the San Diego Padres and a longtime philanthropist. In 1998 she gave $100 million to the Salvation Army, and last week the University of Notre Dame announced a gift from her of $50 million.

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