Benwood Foundation
Encyclopedia
The Benwood Foundation is a charitable foundation created in 1944 by George Hunter
in honor of his uncle, Benjamin Thomas
who pioneered the Coca-Cola
bottling
industry and founded the Coca-Cola Bottling Company. George Hunter was the heir of Benjamin Thomas, and much of the wealth related to the Coca-Cola Bottling Company passed on to the Foundation. As of 2004 The Benwood Foundation distributes between $4 and $5 million dollars annually in grants and donations.
law precedent-setting lawsuit when family members sued regarding the tax status of the donation. A 1952 court ruling stated that the Foundation did not have to pay death duties, which became the responsibility of the residuary estate. The ruling was upheld on appeal.
George Hunter (Coca-Cola bottler)
George Thomas Hunter was a businessman and philanthropist in Chattanooga, Tennessee who inherited and ran the Coca-Cola Bottling empire from his uncle Benjamin Thomas. Hunter's most notable philanthropic efforts is the creation of The Benwood Foundation and The Hunter Museum of American Art...
in honor of his uncle, Benjamin Thomas
Benjamin Thomas (Coca-Cola bottler)
Benjamin Franklin Thomas was a Chattanooga, Tennessee businessman and industrialist who pioneered the development of the Coca-Cola bottling industry and founded the Coca-Cola Bottling Company....
who pioneered the Coca-Cola
Coca-Cola
Coca-Cola is a carbonated soft drink sold in stores, restaurants, and vending machines in more than 200 countries. It is produced by The Coca-Cola Company of Atlanta, Georgia, and is often referred to simply as Coke...
bottling
Bottle
A bottle is a rigid container with a neck that is narrower than the body and a "mouth". By contrast, a jar has a relatively large mouth or opening. Bottles are often made of glass, clay, plastic, aluminum or other impervious materials, and typically used to store liquids such as water, milk, soft...
industry and founded the Coca-Cola Bottling Company. George Hunter was the heir of Benjamin Thomas, and much of the wealth related to the Coca-Cola Bottling Company passed on to the Foundation. As of 2004 The Benwood Foundation distributes between $4 and $5 million dollars annually in grants and donations.
History
Upon George Hunter's death in 1950, 70 percent of the Coca-Cola Bottling Company stock went to the Foundation. This led to a probateProbate
Probate is the legal process of administering the estate of a deceased person by resolving all claims and distributing the deceased person's property under the valid will. A probate court decides the validity of a testator's will...
law precedent-setting lawsuit when family members sued regarding the tax status of the donation. A 1952 court ruling stated that the Foundation did not have to pay death duties, which became the responsibility of the residuary estate. The ruling was upheld on appeal.
Focus
The Foundation's grantmaking focus is on Public Education, Arts & Culture, the Environment, and Neighborhood & Community Development.See also
- Benjamin ThomasBenjamin Thomas (Coca-Cola bottler)Benjamin Franklin Thomas was a Chattanooga, Tennessee businessman and industrialist who pioneered the development of the Coca-Cola bottling industry and founded the Coca-Cola Bottling Company....
- George HunterGeorge Hunter (Coca-Cola bottler)George Thomas Hunter was a businessman and philanthropist in Chattanooga, Tennessee who inherited and ran the Coca-Cola Bottling empire from his uncle Benjamin Thomas. Hunter's most notable philanthropic efforts is the creation of The Benwood Foundation and The Hunter Museum of American Art...