The remaining assets of two trusts valued at more than $6.4 million have been transferred to the San Antonio Area Foundation to be used for charitable purposes.
The money came from two charitable remainder trusts managed by a local bank for Jeanette Chadwick’s benefit during her lifetime. Ms. Chadwick, the daughter of the late John and Gladys Chadwick, was a native San Antonian who died in June 2013.
George Williams, a family member and co-guardian of the person of Jeanette Chadwick, along with his wife, Barbara Williams, said that the family of Ms. Chadwick was concerned that a previously formed family foundation might not meet their original objectives. This was confirmed after consulting with an attorney knowledgeable about charitable endeavors.
Therefore, George and his brother, Dr. Donald Foster Williams (now deceased), determined that these available funds could serve charitable causes more efficiently and effectively under the auspices of the San Antonio Area Foundation.
“We feel very fortunate to be able to make a contribution to the San Antonio Area Foundation, and in that way make a perpetual contribution to the community in San Antonio,” George Williams said.
Kathleen Finck, director of Gift Planning at the Area Foundation, said, “The Area Foundation is pleased and honored to be able to take the joy that was a hallmark of Ms. Chadwick’s life and spread it to others in the community who will be aided by distributions from her charitable funds.”
The San Antonio Area Foundation, established in 1964, is San Antonio’s community foundation, which makes grants from funds established by individuals, families, businesses or other entities to support charitable causes in our community. The Area Foundation manages more than $250 million in assets and has distributed more than $220 million for scholarships and grants to educate youth, preserve the environment, protect animals, fund research and provide services that enhance the quality of life for people living in and around San Antonio.