NPR Receives a Record Bequest of More Than 200 Million - ProSoundNetwork.com

NPR Receives a Record Bequest of More Than 200 Million

Washington D.C. (November 12, 2003)--NPR has been honored with a bequest of more than $200 million from the estate of philanthropist Joan B. Kroc. It is believed to be the largest monetary gift ever received by an American cultural institution, NPR President Kevin Klose has announced.
Author:
Publish date:

Washington D.C. (November 12, 2003)--NPR has been honored with a bequest of more than $200 million from the estate of philanthropist Joan B. Kroc. It is believed to be the largest monetary gift ever received by an American cultural institution, NPR President Kevin Klose has announced.

"We are inspired and humbled by this magnificent gift," said Klose. "This remarkable act of generosity will help secure the future of NPR as a trusted and independent source of news, information and ideas for millions of listeners. Joan Kroc believed deeply in the power of public radio to serve the communities of America. She made this extraordinary gift from her steadfast conviction that NPR and our member stations provide a vital connection to millions of listeners. She wanted us to continue building a programming service marked by excellence to meet the challenges of this new century. This contribution reflects not only Mrs. Kroc's belief in the growing significance and enduring value of public radio, but her conviction that NPR will be a wise and responsible steward of her legacy."

Most of the gift to NPR will become part of the NPR Endowment Fund for Excellence. The fund was created in 1993 to provide a sustaining source of support for NPR activities that is independent of other revenue sources, which are affected by the economy and other factors beyond NPR's control.

NPR member station, KPBS in San Diego, also received a $5 million bequest from Mrs. Kroc, a long-time donor to the station.

Joan Kroc, who was nationally recognized for her philanthropy, died of cancer Oct. 12 at age 75. She was the widow of Ray A. Kroc, the founder of McDonald's Corp.

National Public Radio
www.npr.org