Mary Reynolds Babcock (August 8, 1908 - July 17, 1953) was a philanthropist. Mary Reynolds Babcock was the daughter of R.J Reynolds and Katharine Smith Reynolds and therefore inherited considerable wealth from her father's foundation of the R. J. Reynolds Tobacco Company. She was a founder for both Zachary Smith Reynolds Foundation and Mary Reynolds Babcock Foundation. She and her husband Charles Babcock gifted Wake Forest University 350 acres, and the university moved to Winston Salem, North Carolina.
Video Mary Reynolds Babcock
Early life
Mary Reynolds Babcock was one of four children: one sister, Nancy Reynolds, and two brothers, R. J. Reynolds Jr. and Zachary Smith Reynolds. Mary was the second child born to R.J and Katharine Reynolds, as well as their first daughter. Mary's father died when she was only ten, and her mother passed away when she was sixteen.
As a child, Mary Reynolds Babcock went to a small private school in Reynolda and eventually went on to Salem Academy to further her education. This schooling was later followed by schooling at Miss Wright's School in Pennsylvania. The hallmark of her education came after she graduated high school and went to Paris. There she studied art, a passion of hers.
In 1936, her father, R.J. Reynolds, left her an inheritance of thirty million dollars. At this point in her life, she was considered to be one of the wealthiest women in the world. With this money, she made many donations to worthy causes focusing on local education.
Maps Mary Reynolds Babcock
Marriage
Mary Reynolds Babcock married Charles Henry Babcock, an investment banker from Philadelphia, and had four children. Charles Babcock was an influential businessman, and a public-minded citizen whose influence continues to be felt throughout the state of North Carolina and especially the Piedmont in the twenty-first century.
Death
Mary grew ill in the prime of her life and died of cancer in 1953. Her generous will provided twelve million dollars for a trust established as the Mary Reynolds Babcock Foundation. She died in New York City and was buried in Winston-Salem.
Foundation
Mary Reynolds Babcock started the Z. Smith Reynolds Foundation, which was established in 1953 after the death of her brother, Zachary Smith Reynolds. It had a broad mandate to support the 'betterment of mankind and furtherance of the public welfare. She later started Mary Reynolds Babcock Foundation. The Mary Reynolds Babcock Foundation's mission is to "help people and places to move out of poverty and achieve greater social and economic justice." By the 1960s, both foundations were controlled by interlocking boards composed primarily of Reynolds family members, including Charles (Charlie) H. Babcock, Mary Reynolds's husband; R.J. Reynolds Jr.; and Anne Reynolds Forsyth, Zachary Smith Reynold's daughter from his first marriage.
By the 1960s, the Reynolds' wealth had passed into the hands of a second generation of family members who were far removed from the political and economic struggles of the workplace. They played no role in the day-to-day management of Reynolds Tobacco. They took their cues instead from the culture of mid-twentieth century American philanthropy, which puts its faith in social engineering and the use of private wealth to advance the common welfare. Some examples include Alliance for Appalachia, Blueprint NC, and Federation of Child Care Centers of Alabama.
Wake Forest land grant
Charles and Mary Reynolds Babcock generously donated 350 acres from the family estate for the relocation of Wake Forest University. From 1952 to 1956, 14 buildings were constructed on the Winston-Salem campus. The school was officially moved to Winston-Salem in the summer of 1956.
References
Source of the article : Wikipedia
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