![]() Lord’s estate plan created a holding company, Jura Corporation, which owned all of the voting stock and most of the non-voting stock of the LORD Corporation, as well as four foundations which, in turn, owned a significant part of Jura: the Lord Foundation of California, which supports USC the Lord Foundation of Massachusetts, which supports MIT the Lord Foundation of North Carolina, which supports Duke and the Lord Foundation of Ohio, which supports Cleveland Clinic. ![]() The sale of LORD Corporation, a century-old, privately-held manufacturing company, has led to the distribution of more than $1 billion to four charitable foundations that support institutions seeking to advance education and research.Ĭleveland Clinic, Duke University, the Massachusetts Institute of Technology (MIT) and the University of Southern California (USC) will benefit from the distribution of $261 million to each of the four foundations that were the recipients of gifts of stock from Thomas Lord, who led the family-owned company until his death in 1989. (Please give photo credit to LORD Corporation.)ĭURHAM, N.C. Note to editors: Photos to accompany this story can be found here.
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