Search Canton 35 sub HOME NEWS Sunday LOCAL Special: SPORTS Top assistant ENTERTAINMENT stands LIFE OPINION OBITUARIES FEATURED» HOF PHOTOS VIDEOS GAMES TV GUIDE BUSINESS SPECIAL SECTIONS BRANDED CONTEN NEWS NOW playoff run... Private foundations invest millions in Stark County... Truck fire re Private foundations invest millions in Stark County Stark County's industrial history left it a legacy of old warehouses, abandoned factories and piles of cash. COMMENT 0 Recommend 0 0 Shane Hoover CantonRep.com staff writer Posted Dec. 1, 2014 @ 11:00 am CANTON Stark County s industrial history left it a legacy of old warehouses and abandoned factories. The families and businesses that forged those enterprises also bequeathed the community millions of dollars that continue to work for good decades later. The 91 private foundations in Stark County were worth almost $513 million in 2012, and gave more than $23 million to not-for-profit organizations that year, according to the National Center for Charitable Statistics. The money went to a wide spectrum of charities and causes: Economic development, theaters, orchestras, social welfare, free clinics, heart-care centers and scholarships. Here s a look at the top 10 private foundations in amount of grants given (figures collected from latest tax filings available): 1 of 5 12/2/14, 12:36 PM
Kristen Schaal, January Jones Join Cast of Fox's The Last Man on Earth When Does House of Cards Return? Patient Carolynne Foss shares a laugh with Martha Coleman RN as she is attended to in Aultman Hospital's Cardiac Care Unit Monday. 1: TIMKEN FOUNDATION OF CANTON ASSETS: $359 million» RELATED CONTENT Private vs. Public There are some big foundations not on our list. That s because some entities that are called foundations GRANTS: $12.9 million When the Timken Foundation formed during the Great Depression, Canton residents faced high unemployment and hunger. The bearing business had done well, and 2 of 5 12/2/14, 12:36 PM
actually file with the IRS as public charities. What s the difference between...» Read more 'Big Six' private, charitable foundations lead way in com... Foundations lend support to museum Stark's oldest foundations How a foundation is born the Timken family wanted to give back to communities where it had factories. One of its first projects was Timken High School, a vocational school aimed at helping young people who weren t getting the training they needed for a job. It s still here, it s still functioning.... One of our better projects, said Ward J. Jack Timken, foundation president. The foundation his grandfather and two great-aunts started is the largest private foundation in Stark County, in terms of assets and the amount of grants given, and has a global reach. In 2012, it gave $4.1 million to local projects, with the remainder going to recipients in other communities, including $3.3 in overseas grants. It s as important in many respects as any business would be, Timken said. It does a lot of good. Education has remained a focus for the foundation, through college scholarships and its involvement in the Stark Education Partnership. The foundation also supports social services, civic improvements, medicine and the arts. About 90 percent of its grants fund capital projects, such as construction, renovation or equipment purchases. Some projects go on for decades. The foundation helped bring the Pro Football Hall of Fame to Canton, continues to support the institution and is involved with plans to renovate Fawcett Stadium. 2: HOOVER FOUNDATION ASSETS: $52.5 million GRANTS: $2.6 million The Hoover Foundation is one of two foundations formed by members of the family that built and sold vacuum cleaners in North Canton for decades. Most of the original funding for the foundation came from Mary Hoover Price, the daughter of William H. Boss Hoover, who started the sweeper company.» Comment or view comments Prev 1 2 3 4 Next» SUGGESTED STORIES Truck fire reduces I-77 to one lane in southwest Canton Canton, OH - CantonRep.com Missing Minerva-area woman returns home safely Canton, OH - CantonRep.com Video of officer shooting Cleveland 12-year-old boy is» FROM AROUND THE WEB 30 of the Fastest-Growing Occupations Require STEM Skills Chevron on The Atlantic Why college isn't for everyone, explained in a single chart Fortune 3 of 5 12/2/14, 12:36 PM
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