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Gifts Roundup: Sale of NFL’s Carolina Panthers Spurs $30 Million Gift for Kids

By  M.J. Prest
July 23, 2018
Derick Springsteen Close sold his ownership stake in the Carolina Panthers and has given the proceeds to his donors-advised fund.
Rob Carr/Getty Images
Derick Springsteen Close sold his ownership stake in the Carolina Panthers and has given the proceeds to his donors-advised fund.

A roundup of notable gifts compiled by the Chronicle:

Springsteen Foundation

Derick Springsteen Close, who sold his ownership stake in the Carolina Panthers football team this month, has donated $30 million of the proceeds to his donor-advised fund at the Foundation for the Carolinas. The NFL team, which was owned by several investors, fetched almost $2.3 billion in its recent sale to David Tepper.

The community foundation said in a statement that Close intends for his donor-advised fund to make grants to local nonprofit groups that serve those in need throughout North and South Carolina. Its first grant cycle will open early next year.

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A roundup of notable gifts compiled by the Chronicle:

Springsteen Foundation

Derick Springsteen Close, who sold his ownership stake in the Carolina Panthers football team this month, has donated $30 million of the proceeds to his donor-advised fund at the Foundation for the Carolinas. The NFL team, which was owned by several investors, fetched almost $2.3 billion in its recent sale to David Tepper.

The community foundation said in a statement that Close intends for his donor-advised fund to make grants to local nonprofit groups that serve those in need throughout North and South Carolina. Its first grant cycle will open early next year.

Luther Seminary

Dean Buntrock, the founder and former CEO of Waste Management, has given $21.4 million to the divinity school in St. Paul. The gift will cover a five-year pilot program to offer an accelerated divinity program, enabling students to earn their master’s degrees faster and with no personal debt.

The gift also supports full-tuition scholarships for all master-of-divinity and master-of-arts students at the seminary.

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Beaverton Arts Foundation

Through the Reser Family Foundation, Patricia Reser gave $13 million toward its $46 million center for the arts, which will be named for the donor. The new center in Beaverton, Ore., will feature a 550-seat theater, rehearsal and workshop space, art gallery, an outdoor plaza, conference rooms, and cafe.

Reser, who serves as chair of the arts foundation’s Board of Trustees, is the board chair of Reser’s Fine Foods, an international company that makes refrigerated foods. The company was founded by the parents of her late husband, Al, who died in 2010.

University of Kansas

Daniel Logan and his wife, Gladys Cofrin, have given $2 million to establish the Cofrin-Logan Center for Addiction Research and Treatment. The new institute will bring together researchers, doctors, and services from the university campus and the University of Kansas Medical Center to fight the opioid crisis.

The couple told the university they both have personal experience with addiction and are in recovery themselves. Logan, a board-certified physician of emergency medicine, is a professor in the addiction medicine department at the University of Florida’s College of Medicine. Cofrin is a retired therapist at the Alachua County Crisis Center, in Gainesville, Fla.

Lord’s Place Men’s Campus

Anna Mann has given $1 million to rename this homeless men’s shelter in West Palm Beach, Fla., in honor of her late husband, William Mann.

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Mann is a journalist and novelist who reportedly received a settlement worth more than $1 billion in her 1999 divorce from her first husband, the media mogul Rupert Murdoch.

University of Arkansas for Medical Sciences

Chris Rakhshan has donated $1 million to the health center and medical school to endow research and advancements to treatments for head and neck cancers. The university has named a chair in otolaryngology for the family.

Rakhshan is the president of Rexam Delta, a packaging company in Boulder, Colo. He made the gift in honor of his daughter, Pamela, who was successfully treated for cancer of the trachea at the hospital in 2008.

To learn about other big donations, see our database of gifts of $1 million or more, which is updated throughout the week.

We welcome your thoughts and questions about this article. Please email the editors or submit a letter for publication.
Fundraising from IndividualsMajor-Gift Fundraising
M.J. Prest
M.J. Prest has been writing about major gifts, grant making, and executive moves for the Chronicle since 2004.
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