April 22, 2011

High Point millions: two approaches to philanthropy

Posted in Philanthropy at 3:16 pm by philanthropynews

N.C. State announced today it will dedicate the $72 million Randall B. Terry, Jr., Companion Animal Veterinary Medical Center on May 6.

It’s named for the late High Point Enterprise publisher and furniture showroom owner whose charitable foundation made a gift of $20 million per Terry’s wishes.

By coincidence, we have another story today about High Point benefactors of higher education: “4 families give $10 million each to High Point University.”

I’ve written a number of times here about Terry’s foundation. At last report, it had market value exceeding $120 million — greater than Greensboro’s Joseph M. Bryan Foundation. Yet its primary contributions — millions each year — go to the vet school at State and to Woodberry Forest, a private prep school for boys in Virginia. Rarely, if ever, does any spare change fall to a worthy cause in High Point, where Terry accumulated all his wealth.

Terry, who was not married at the time of his 2004 death and had no children, kept several golden retrievers.

(Read more via News Record.)