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September 9, 2010 : Dayton Daily News, © 2010 Dayton Newspapers, Inc.. Reprinted with permission.
Charities Get Lifeline from $26 Million Gift
Nonprofit organizations in the Greater Dayton Area will get an additional $1 million annually from philanthropist Virginia B. Toulmin’s more than $26 million legacy gift to The Dayton Foundation.
The gift, to be announced today, Sept. 9, is 30 percent greater than what the Foundation anticipated receiving in June when Toulmin died at age 84.
The unrestricted gift “will more than double the discretionary grants that the Foundation is able to award,” said Mike Parks, president of The Dayton Foundation.
The Foundation awards about $35 million annually, but most of those fund recipients are predesignated by donors, Parks said.
Toulmin’s gift, which will spin off more than $1 million annually, can be used by the Foundation where community need or opportunity is greatest, in perpetuity, he said.
“This is just a godsend in terms of the help and assistance to nonprofits,” Parks said.
The first grants are likely to go out before the end of the year.
Toulmin’s legacy is the largest single gift in the Foundation’s 89-year history. The largest previous unrestricted gift was $3.9 million in 2009 from Edward and Esther Kohnle.
Toulmin was a former businesswoman and the widow of Harry A. Toulmin, Jr. Her father-in-law, Harry Aubrey Toulmin, Sr., was the famed Springfield attorney who secured and defended the Wright brothers’ patent for their flying machine.
Click here to read the continuing story, "Toulmin's $26 Million Gift To Have 'Big Impact' on Area," in the Dayton Daily News.
Click here to read about the life and accomplishments of Virginia Toulmin in an article that appeared in The Dayton Foundation's spring 2009 newsletter, Good News.
From the Dayton Daily News of September 9, 2010. © 2010 Dayton Newspapers, Inc. Reprinted with permission. back to In the News page
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File date: 09-09-2010
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