The McCarthy Charities was founded in 1917 in Troy, NY, to “aid, support, advise, and conduct philanthropic work and the relief of the needy within the County of Rensselaer in the State of New York.” America’s oldest family foundation still in existence is only 23 years older than The McCarthy Charities.
It was never particularly necessary to set up a plan for succession because, until now, the largest number of potential board members was 11. Of those, 10 grew up together in Troy and knew one another and the area well. Five are siblings.
Things, though, have changed with the current generation of which only 7 of 22 grew up in or around Troy. As a result, The McCarthy Charities, for the first time, must contemplate bigger picture questions than ever before.Login to Read More