Will the right boycott Micky D's now?
Philanthropist leaves $200 million to NPR
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Nov. 6, 2003 | WASHINGTON (AP) --
Billionaire philanthropist Joan B. Kroc bequeathed more than $200 million to National Public Radio _ a surprisingly large donation more than double the nonprofit network's annual budget.
``We are inspired and humbled by this magnificent gift,'' NPR President Kevin Klose said Thursday. Klose said it would ``help secure the future of NPR.''
Kroc, the widow of McDonald's restaurant founder Ray Kroc, was known for giving away hundreds of millions to promote world peace, education, health care and the arts. She was a longtime donor to her local NPR member station, KPBS in San Diego, and left an additional $5 million to them.
Kroc died of cancer Oct. 12 at the age of 75. The exact amount of her bequest will depend on the resolution of her estate and the value of her investments, NPR officials said.
Longtime NPR special correspondent Susan Stamberg said she was ``rendered almost speechless'' by the size of the donation. ``This was totally unexpected,'' Stamberg said.
Most of the gift will become part of an endowment fund created in 1993 to offset periodic drops in revenue. With the bequest, the fund's total will leap past $225 million, NPR officials said.
``It is no secret that these have been challenging economic times for public radio, a challenge that is still unmet,'' Klose said, pointing especially to the needs of member stations.
Best known for its daily news programs ``Morning Edition'' and ``All Things Considered,'' NPR also presents music and cultural programming. A private company that counts more than 750 independent radio stations as members, NPR receives between 1 percent and 2 percent of its $100 million annual budget as grants from federally funded organizations.
Associated Press |
