A DEMANDING GIFTA DEMANDING GIFT
Joan Kroc made history when her will gave the Salvation Army $1.5 billion the largest known donation to a charity in history. For the Salvation Army, the gift, which became known in January, came as a surprise, and promised to cause serious trouble. The money has some very tight strings attached, requiring the Salvation Army to create community centers, and raise at least $40 million a year to run
March 1, 2004
Rorie M. Sherman Editor in Chief
Joan Kroc made history when her will gave the Salvation Army $1.5 billion — the largest known donation to a charity in history. For the Salvation Army, the gift, which became known in January, came as a surprise, and promised to cause serious trouble. The money has some very tight strings attached, requiring the Salvation Army to create community centers, and raise at least $40 million a year to run them.
Yet it's a present the Salvation Army couldn't afford to turn down. “The Salvation Army's in a lose-lose deal here,” says charitable giving expert Robert F. Sharpe Jr., president of Robert F. Sharpe & Company, Inc. If the organization decided that raising the extra money is too onerous and turned down the ...
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