Word: schupf
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Dates: during 1990-1999
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...born to a baked-goods fortune and never thought she would be concerned with getting or giving money. "I liked to be taken care of," says Sara Lee Schupf, 58, the namesake of the famous frozen pies. Then in the early '80s, after a devastating divorce, she had to learn to take care of herself and others. She had no work experience and no clue about managing money. With four kids to look after and educate, she imagined her savings dwindling rapidly and, she says, "spent many days in tears...
...when her father died in 1988, leaving her a comfortable inheritance and naming her the sole executor of his will, Schupf began to evolve into a different woman. She returned to college and earned a B.A. in women's studies. And in 1992 she started a family foundation with a multimillion-dollar endowment. She wanted the foundation to encourage women in science but was told by research institutions that the more important work was being done by men. Schupf persisted, contributing $1.5 million for a female science professor's post at Skidmore College in New York State and funding...
These days, in the major leagues of philanthropy, nobody doesn't like Sara Lee. And charitable fund raisers are learning that nobody can afford to overlook the rising influence of women. Some, like Schupf, inherited their money, and a growing number earned it. But women in both camps are demanding more attention to their favorite causes and more influence over exactly how their donations are spent. Gone are the days when women's philanthropy referred only to sweet dears who ran the school auction or gussied up for the charity ball...