Atlantic Philanthropies Final Grant Supports Cornell Tradition
The Atlantic Philanthropies, the foundation established by entrepreneur Charles F. Feeney '56, has made a $7 million grant to The Cornell Tradition, a fellowship program offering distinctive service, work and scholarship opportunities to some of the university's most civically minded undergraduates.
The award marks the completion of Atlantic's grant-making, totaling $8 billion over 35 years, nearly $1 billion of which has benefitted Cornell University. Atlantic's board decided in 2002 to disburse the foundation's assets by the end of 2016 and cease operations by 2020, a decision inspired by Feeney's belief that people of great means should put their wealth to the service of humanity during their lifetimes, a philosophy he describes as "giving while living."
Atlantic's final investment will create the Frank H.T. Rhodes Fund for The Cornell Tradition and expand the foundation's support for the program to more than $40 million...