A.I. du Pont Trust organization
also: A.I. DuPont Trust, Alfred I. DuPont's testamentary trust, the trust
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Related entities (most co-mentioned)
Ed Ballperson · 5Nemours Foundationorganization · 2St. Joe Paper Companyorganization · 2Florida National Bankorganization · 1Florida East Coast Railwayorganization · 1Cape Canaveralplace · 1Alfred I. du Pontperson · 1Jessie Ball du Pontperson · 1
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Mentions (7)
▶ 46:32
Ball lost his fight in Congress to stop a law that required him to divest A.I. DuPont Trust of its controlling interest in Florida National Bank, primarily because of his gruesome labor practices and union busting at the railroad, which wer…
▶ 47:02
Ball also carried on a continuous fight with the Attorney General in Florida and Delaware over the amount of money remitted to the trust for the Nemore Foundation, which operated several hospitals and clinics in Delaware and Florida for eld…
▶ 47:29
primarily in the form of stock in various companies, including St. Joe Paper Company, the Florida East Coast Railroad. The trust beneficiary is the Nemore Foundation, which owns and operates the hospitals and clinics. The money flows this w…
▶ 47:56
it would be required to pay an amount equal to at least 5% of the assets of the trust to the foundation each year. But the way it's set up, there can be several impediments to the flow of money. The companies might not make a profit and thu…
▶ 48:25
on charity equal to at least 5% of their total assets by classifying his system as a hospital. Then before he died, Ball was sued by the state of Delaware and Florida, which alleged he was not spending enough of the profits on charity. Ball…
▶ 48:51
which had been paying about 1% of its assets to the foundation each year, agreed to settle the Florida and Delaware lawsuits by upping the percentage to three. Ball then hired an auditor to lower the appraised value of the assets of the tru…
▶ 49:20
So this is the generosity of these people that if they're ordered to do something they don't want to do, they just change the math. Thus, if the trust was treated as a normal charity, it would have been getting about $100 million a year to …