Prince Charitable Trusts: Established In Chicago, Washington DC And The State Of Rhodes IslandThe Prince Charitable Trusts were established from the personal gifts of Frederick Henry Prince (1859 - 1953) and his wife, Abbie Norman Prince (1860 - 1949), during the year 1947. The three trusts operate in the cities of Chicago, the metropolitan areas of Washington D.C., and the State of Rhode Island. These trusts operate as a family foundation with giving program. Frederick Henry Prince was an entrepreneur, and has been living in Boston. He was in business, dealing with brokerage and investment banking. At a later date F.H. Prince became a financer, and he was one of the early investor in railroads. He owned the legendary Union Stockyards in Chicago, and was the one who developed the first planned industrial real estate park in the city. This industrial real estate park was also the first of its kind in the world. F. H. Prince and his wife also resided in Newport, Rhode Island. The trusts had $185 million worth of assets in the year 2005, and distributed about $8.7 million in grants. The vital source to the Prince Charitable Trusts is their patrons. This enables the trusts to respond quickly to the needs of the disadvantaged young people that the trusts seek to help. The contributions from the patrons are the central factor for the trusts' continued success in purpose for which they were originally formed. The classification of the patrons is as follows: Platinum Patrons - such as, British Telecommunications plc., Peter Cruddas, Merrill Lynch & Co. Foundation, Inc., Lakshmi Mittal, and many more. Gold Patrons - such as, Monica and Hugh Bourn, British Nuclear Group, The Capita Group Plc., Citigroup Foundation, etc. Silver Patrons - such as, The 29th May 1961 Charitable Trust, Accenture, The Beach Carylon Bay, BEA Systems Ltd., and many others. Patrons - such as, Aascent Finance Company, Abbey National Charitable Trust, Rodney M Aldridge OBE, Allan Chapman and James, etc. The Prince Charitable Trusts in Chicago keeps the city vibrant, enhancing the quality of life, by supporting a broad array of services. In the year 2005, the trusts contributed as trust's giving, a sum of $3.7 million, and awarded grants to the organisations within the geographic boundaries of the city of Chicago. The areas of interest in the Chicago based branch of the Prince Charitable Trusts are, Arts and Culture, Education, Environment, and Health. In Washington D.C., the Prince Charitable Trusts provide operating or project grants to the metropolitan areas of the city. The areas of interest in the city are much broader than what they are in Chicago, which include, Arts and Culture, Health, with specific relation to Hospital Morale Programs and Community-based Clinics Programs, Community and environment, Emergency Services, Youth, opening the doors to education, and small Capital Grants. The trusts support bringing up the quality of life of the residents of Newport and Aquidneck Island, in the State of Rhode Island. When-ever there are regional and statewide programs, directly or indirectly having an impact on Newport or Aquidneck Island, the trusts come out in support of such programs. The trusts has some very specific interests in Rhodes Island, which may be classified as, Arts and Culture, Environment, Preserving the cultural heritage of Newport, where the trust maintains the historic image of the city and surrounding communities, attending to the need of Social Services, and helping small number of Capital Grant. |