GREENVILLE,SC – From reshaping the I-85 corridor through its real estate to spearheading the next generation of affordable housing and economic mobility, HollingsworthFunds has spent the past quarter century creating a better community.
To start this celebration, they have launched an updated website that details the key moment sand milestones it has reached over the decades. Created by Greenville-based Engenius, the new site can be found here.(www.hollingsworthfunds.org/25-anniversary).
“We are proud of what we have accomplished in the past 25 years, but the real excitement is to see what we will be doing in the next 25 years,” said Gage Weekes, President& CEO of Hollingsworth Funds.
Hollingsworth Funds was created by the late John D. Hollingsworth Jr., who led a5,000-employee textile machinery company that spanned 18 countries from a headquarters off of Laurens Road just south of Interstate 85. Although Hollingsworth Funds was originally established in 1976, it was not until shortly after Mr. Hollingsworth’s passing on December 30, 2000, that the bulk of his self-made textile and real estate fortune, valued at $275 million, passed to the organization.
Hollingsworth Funds was charged with allocating that estate in three ways: 45% of its annual distributions was designated to Furman University, 10% to the YMCA of Greenville County, and the remaining 45% to a class of organizations defined asa ny nonprofit organization benefitting Greenville County. Most of the value of Mr. Hollingsworth’s gift consisted of 42,000 acres of predominantly raw, undeveloped land, meaning the organization did not have readily available cash to distribute grants at the outset, unlike most traditional foundations.