Friday, August 9, 2019

Thomas Lyle Williams, founder of Maybelline Cosmetics, left a trust in favor of CARE and The Salvation Army because, in his judgment, these two organizations “cared for the poor within their means better than any other groups.”

The Trust was drawn up in 1958 and the terms gave CARE two million dollars a year and the Salvation Army one million. If the interest did not cover the three million to be paid out, then the balance had to come from the capital. And for a year or two this was the case. However, management brought in an investment team and, still following the specific intentions of the trust, wise investments have over the years brought commendable dividends and increased value, so much so that now CARE and the Army have the income from this trust “in perpetuity.”

A plaque honoring the T.L. Williams Trust and its years of generosity is on display at NHQ, a permanent recognition of this trust and the benefit it has been to Salvation Army programs throughout the U.S. 

Tom Lyle Williams, also set up two trust funds in Chicago held by JP Morgan Chase - each worth today approximately $1.5M . They started with $1M each back in the late 70's when he passed away. One benefits the Braille Institute and the other benefits the American Humane Association. Each receive approximately $65,000 per year from the trusts - a significant annual sum for any charitable organization!

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