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Photo illustration by ProPublica; source image: Milton Hershey School, MHS 2018 IRS Form 990 Long ago, and to great fanfare, business tycoon Milton Hershey revealed that he had given away his world-famous chocolate company, a gift to the school for poor orphans that he had founded with his wife. “Well, I have no children that is, no heirs,” he said in 1923. “So I decided to make the orphan boys of the United States my heirs.” Hershey died in 1945, leaving a huge estate and a company that would grow to sell more than 250 million candy bars a year. His generosity, however, has created a dilemma for the Milton Hershey School that many charities would envy: too much money. ....
Email address: Thanks for signing up. If you like our stories, mind sharing this with a friend? https://www.propublica.org/newsletters/the-big-story?source=www.propublica.org&placement=share®ion=local-reporting-networkCopy link For more ways to keep up, be sure to check out the rest of our newsletters.See All Fact-based, independent journalism is needed now more than ever.Donate Hershey died in 1945, leaving a huge estate and a company that would grow to sell more than 250 million candy bars a year. His generosity, however, has created a dilemma for the Milton Hershey School that many charities would envy: too much money. ....
Bob Fernandez of The Inquirer and Charlotte Keith of Spotlight PA This article was produced in partnership with Spotlight PA and The Philadelphia Inquirer, which is a member of the ProPublica Local Reporting Network. Sign up for Spotlight PA’s free newsletters here. For over a year, lawyer Bob Heist, then-chairman of the Milton Hershey School’s board, says he sought internal financial records detailing the spending history of the $17 billion charity, which has a mission to educate low-income students for free. He now says he is being denied records he needs as a board member charged with overseeing the Pennsylvania boarding school’s operations, and earlier this month he sued the school to obtain the documents. It’s an extremely unusual step for a sitting board member, taken against an extremely unusual institution: The Milton Hershey School is the wealthiest precollege educational institution in the United States. It controls 80% of the Hershey Co. candy giant� ....
. For over a year, lawyer Bob Heist, then-chairman of the Milton Hershey School’s board, says he sought internal financial records detailing the spending history of the $17 billion charity, which has a mission to educate low-income students for free. He now says he is being denied records he needs as a board member charged with overseeing the Pennsylvania boarding school’s operations, and earlier this month he sued the school to obtain the documents. It’s an extremely unusual step for a sitting board member, taken against an extremely unusual institution: The Milton Hershey School is the wealthiest pre-college educational institution in the United States. It controls 80% of the Hershey Co. candy giant’s voting shares, and reaps profits from the sale of Hershey chocolate bars, Reese’s Peanut Butter Cups, and SkinnyPop-brand snacks sold in thousands of U.S. retail stores. ....