Encyclopedia Dubuque
"Encyclopedia Dubuque is the online authority for all things Dubuque, written by the people who know the city best.”
Marshall Cohen—researcher and producer, CNN
Affiliated with the Local History Network of the State Historical Society of Iowa, and the Iowa Museum Association.
WAHLERT FOUNDATION
WAHLERT FOUNDATION. Philanthropic organization making donations, gifts and grants to charitable, civic, educational and religious organizations throughout the United States. Established in December 1948 by Harry WAHLERT, the Foundation was formed to solve an estate problem, donate money to other organizations, and continue control of the packing company.
Early in its existence, the Foundation bought BUNKER HILL GOLF COURSE and donated it along with land that became FLORA PARK.
In 1969 a federal law forced the to foundation divest itself within ten years of company stock and give up control of the packing company. The foundation sold its 200,000 shares back to the company after Harry Wahlert's death in 1974 for $1.4 million. Independent since that sale, the foundation invested in common stock. In the late 1950s and 1960s decision-making at the Foundation transitioned to Robert C. WAHLERT and then in the 1980s to Bob and David Wahlert, his sons.
In its first sixty years, the foundation donated between $13-$15 million with about 95% going to local charities. The foundation receives between 74-100 requests annually. The board meets annually in September to decide which charities to assist. Among the recipients have been WAHLERT HIGH SCHOOL. LORAS COLLEGE received money for the construction of the Wahlert Library and St. Joseph Science Hall. Contributions to CLARKE COLLEGE resulted in the construction of the Wahlert Sports Complex.
---
Source:
Hoyer, Will. "Wahlerts Focus on Aid, Education." Telegraph Herald, May 13, 2013, p. 1-2