‘Historic moment’: Community Foundation gets $50 million gift — largest in its history | Local | #healthcare | #elderly | #seniors
An advisory committee will be created to help guide and provide expertise in considering proposals and will spend the next few months speaking with area experts before announcing decisions.
Looking at the way that the fund can grow over time, the gift could be worth more than $1 billion in 50 years, Sanders said.
“It is an asset that will continue to give back to this community forever,” he said.
A native of Greensboro, Weill owned and operated Weill Investment Co. and served as president and chief executive officer of Robins & Weill Inc., which his father founded in 1911.
Outside of work, he was an active member of the real estate industry as well as higher education, health care and charitable organizations based in Greensboro and across North Carolina, often serving in leadership or officer positions in several at the same time.
Weill was instrumental in helping to establish Well-Spring retirement community, serving as a trustee and chair of the board.
He was the first chair of the Board of Trustees of Cone Health who was not a member of the Cone family.
He also served on the Community Foundation’s real estate management committee and was a former member of its Board of Directors.
Founded in 1983, the Community Foundation is a charitable organization that manages more than $295 million in assets and about 700 charitable funds. It promotes philanthropy by addressing emerging community issues, managing permanent endowments and works with individuals, families, corporations, private foundations and nonprofit organizations to achieve their charitable objectives.