M.A.C. Foundation to Support Folk Art and Native American Culture
(1-31-2011) The Margaret A. Cargill Foundation (first announced on this blog in April of last year) is slated to have assets exceeding $4 billion as Cargill's shares in the Cargill agribusiness fortune are liquidated and transferred over the next four-five years. The Foundation will prioritize Native American culture, folk art, environmental disaster relief, and securing safe drinking water for developing nations. The distribution of assets among these funding areas remains to be determined.
The M.A.C. Foundation, as it will be known, is still in start-up mode, but Native American initiatives will begin the foundation's grantmaking, either later this year or early next with a program focused on the Pacific Northwest and Alaska. Spokeswoman Sallie Gaines said the the funding will be very individual and community focused, with an emphasis on rescuing endangered forms of art and culture.
Read more: Mike Boehm's story for the Los Angelese Times.