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September 21, 2012

Retail Firm Donates $163-Million to Ohio Foundation

Limited Brands, the owner of Victoria's Secret and other prominent retail chains, donated $163.4-million to the Columbus Foundation in what is believed to be the largest outright charitable contribution in Ohio history, reports The Columbus Dispatch.

The cash gift from Limited Brands and its founder, Leslie H. Wexner, was made last year but announced Thursday by the foundation as it detailed its 2011 finances. According to a Limited Brands annual report, the money came from the company's sale last year of a stake in the fashion store Express. The company made the gift to the Limited Brands Foundation, one of the Columbus Foundation's 29 supporting foundations.

Including the Limited Brands gift, the foundation took in a record $249.2-million last year and is now the nation's ninth-largest community grant-making body, with just under $1.2-billion in assets.