Z. Smith Reynolds Foundation
Encyclopedia
The Z. Smith Reynolds Foundation was formed by R.J. Reynolds
' daughter, Mary Reynolds Babcock, and her siblings to honor their brother, Zachary Smith Reynolds
, who was murdered at the age of 20 at the Reynolds family home, Reynolda House. The foundation to this day gives away millions of dollars annually in the Piedmont Triad
region of North Carolina
. In 2008, the fund gave away $18 million in grants, including $2 million to Wake Forest University
.
During the 2008 economic crisis, the value of the foundation's trust declined 30% from its high of $470 million in November 2007. The foundation subsequently announced plans to revise the way it processes grants. The foundation, which has focused on affordable housing, immigration, education and the environment, will focus its environmental grants on water, energy and growth. The foundation's grants will be slightly less (at $16 million) than the $18 million given in 2008, but cuts will be steeper in 2010 and 2011.
In the past, the foundation has paid for a study about North Carolina's Work First welfare reform
program, conducted by University of North Carolina at Chapel Hill
researchers.
R.J. Reynolds
Richard Joshua "R. J." Reynolds was an American businessman and founder of the R. J. Reynolds Tobacco Company....
' daughter, Mary Reynolds Babcock, and her siblings to honor their brother, Zachary Smith Reynolds
Zachary Smith Reynolds
Zachary Smith Reynolds was an American amateur aviator and younger son of R. J. Reynolds.The Zachary Smith Reynolds story was the basis for two movies, Reckless, starring Jean Harlow, and the popular 1950s classic, Written on the Wind. The latter was loosely based on a novel by Robert Wilder...
, who was murdered at the age of 20 at the Reynolds family home, Reynolda House. The foundation to this day gives away millions of dollars annually in the Piedmont Triad
Piedmont Triad
The Piedmont Triad, or Triad, is a north-central region of the U.S. state of North Carolina that consists of the area within and surrounding the three major cities of Greensboro, Winston-Salem, and High Point. This close group or "triad" of cities lies in the Piedmont geographical region of the...
region of North Carolina
North Carolina
North Carolina is a state located in the southeastern United States. The state borders South Carolina and Georgia to the south, Tennessee to the west and Virginia to the north. North Carolina contains 100 counties. Its capital is Raleigh, and its largest city is Charlotte...
. In 2008, the fund gave away $18 million in grants, including $2 million to Wake Forest University
Wake Forest University
Wake Forest University is a private, coeducational university in the U.S. state of North Carolina, founded in 1834. The university received its name from its original location in Wake Forest, north of Raleigh, North Carolina, the state capital. The Reynolda Campus, the university's main campus, is...
.
During the 2008 economic crisis, the value of the foundation's trust declined 30% from its high of $470 million in November 2007. The foundation subsequently announced plans to revise the way it processes grants. The foundation, which has focused on affordable housing, immigration, education and the environment, will focus its environmental grants on water, energy and growth. The foundation's grants will be slightly less (at $16 million) than the $18 million given in 2008, but cuts will be steeper in 2010 and 2011.
In the past, the foundation has paid for a study about North Carolina's Work First welfare reform
Welfare reform
Welfare reform refers to the process of reforming the framework of social security and welfare provisions, but what is considered reform is a matter of opinion. The term was used in the United States to support the Personal Responsibility and Work Opportunity Act...
program, conducted by University of North Carolina at Chapel Hill
University of North Carolina at Chapel Hill
The University of North Carolina at Chapel Hill is a public research university located in Chapel Hill, North Carolina, United States...
researchers.