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Summer Science Program spent $2 million last year serving 204 students. Then, they got a $200M gift

A small nonprofit, Summer Science Program, has puzzled for much of the last year over what do to with a surprise bequest of an estimated $200 million. Its board learned in the late summer of 2022 that Franklin Antonio, a co-founder of the large chipmaker Qualcomm, had granted the organization 20% of his estate. The gift is about 100 times the nonprofit's annual budget. CEO Frank Steslow said the board was not previously aware that Antonio, who was an alumni of the program, had included the ...
United States Frank Steslow Jeff Bezos Russell James Joanb Kroc Gabrielle Fitzgerald

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Summer Science Program spent $2 million last year serving 204 students. Then, they got a $200M gift.

It's the kind of problem nonprofit leaders dream about: What do you do when you get an unexpectedly large donation? It has also puzzled over what do to with a surprise bequest of an estimated $200 million — about 100 times its annual budget. Summer Science Program learned last year that one of its alumni, Franklin Antonio, a co-founder of chipmaker Qualcomm, had granted the organization 20% of his estate, said CEO Frank Steslow.
United States Frank Steslow Gabrielle Fitzgerald Joanb Kroc Jeff Bezos Russell James
Source: yahoo.com

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