Carver Charitable TrustCarver Charitable Trust is named after Roy J. Carver, a qualified engineer with a business drive. He began his sojourn in business in the late 1930's and 40's by manufacturing quality pumps in Matherville, Illinois and subsequently in Muscatine, Iowa. He started supplying moulds for his pump company and then ventured into another zone to become the world's largest producer of materials for tyre retreading and other equipments required for transport. Mr. Carver was a great stickler for quality and had a great interest in aviation, and has also traveled widely having five languages at his command. By nature, he was generous and helpful with a special love for the young. He was keen about their education. This drove him on to found the Carver Charitable Trust covering areas related to education, science and health. Till his death in 1981 at 71, he remained active and committed to his cause. The spirit of the great Muscatine industrialist continues to breathe inspiration into the Carver Charitable Trust. In the state of Iowa, it is the largest philanthropic fund with its assets crossing $300 million mark. Each year about $15 million are distributed. Since its inception of giving grants over $191 million has been disbursed as individual grants numbering 1,410. The focus points are biomedical and other scientific researches, education covering primary, secondary and higher tiers as well as other issues concerning youth. Innovative investigation is given importance together with researches undertaken by universities in engineering, medicine and natural sciences. The requirements of the capital needs of institutions are sometimes attended to but the concentration is on specific laboratory work, multidisciplinary approach and ventures into virgin areas involving the danger of risks. Carver Charitable Trust sanctions these grants to I.R.S designated organizations eligible for tax exemptions. Individuals are awarded the grants only through institutions. Preference is given to projects within Iowa and parts of Illinois. A Board of Trustees manages the Carver Charitable Trust, which meet quarterly. Generally annual support is not provided on a regular basis but exceptions are always there. 2002 saw the biggest grant in its history being made to University of Iowa for researches conducted in the College of Medicine. $63 million will be circulated scattered over 15 years. The college will be officially named after the founder of the trust - Carver College of Medicine. The name of his widow Lucille will also be associated with the institute. |