FOR IMMEDIATE RELEASE Nov. 16, 2010 CONTACTS: Susan TurnerLowe, 6264052147 or
[email protected] Thea M. Page, 6264052260 or
[email protected] GIFT FROM BRODY ESTATE REPRESENTS “A REMARKABLE MOMENT FOR THE INSTITUTION, AND A GREAT CHALLENGE” Expected to yield more than $100 million, gift will help provide muchneeded financial stability SAN MARINO, Calif.—A gift from the estate of Frances Lasker Brody to The Huntington Library, Art Collections, and Botanical Gardens is expected to yield in excess of $100 million, the largest single cash gift to the institution and one that will go a great distance toward providing muchneeded financial stability, says Huntington President Steven S. Koblik. The equivalent of a 40 percent increase of the institution’s endowment, Brody’s gift also will require intense fiscal discipline to ensure it has the longterm impact the donor intended, he says. Brody, who died in November 2009 at the age of 93, served as a member of The Huntington’s Board of Overseers for 20 years. The Huntington received $15 million from her estate in October and another $80 million last week. Brody’s house, a landmark midcentury modern structure by A. Quincy Jones, is on the market for more than $24 million; income from that sale will also be distributed to The Huntington. Brody Gift to The Huntington Page 2 of 4 “We are overwhelmed by Francie’s generosity and her vision,” says Koblik. “She was an extraordinary woman with a fierce intellect who thought strategically and was completely tuned in to The Huntington’s challenges, its culture, and its capacity.