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History

 

 

 

The McLean Foundation was established in 1945 by the late Mr. J. S. McLean with an initial gift of $505,400. Mr. McLean made additional gifts from time to time until his death on September 1st, 1954. These gifts, augmented by a bequest under his will, totalled $1,301,000.

Mrs. J. S. McLean also made gifts and bequests to the Foundation, to a total value of approximately $450,000. Mr. and Mrs. McLean’s children, Mr. William F. McLean and Mrs. Mary F. Stewart, made bequests to the Foundation in their wills in 2001 and 2009 respectively.

The net assets of the Foundation have now grown to $53,133,813 based on market values at December 31st, 2016.

The investment policy followed by the Foundation represents an attempt to steer a middle course between fixed income investments, which offer the highest immediate income but little protection against inflation, and common stocks, which generally yield a relatively low immediate dividend but which show promise of dividend growth and appreciation in value. By this means, the Directors hope to provide substantial income available for current disbursement, with a reasonable prospect that income in future years may grow sufficiently to permit meaningful contributions in line with the increasing needs of recipient organizations.

In the 72 years of its existence, The McLean Foundation has received investment income of $47,871,033 and has paid out a total of $52,651,848.

An analysis by category of donations paid out from 1945 to 2016 is shown in Figure 1. During the past year, the Foundation has paid out a total of $2,334,022. An analysis by category is shown in Figure 2.

Figure 1 - Donation Payments 1945 - 2016

 

 The Arts

$12,919,811

 Education

$7,601,426

 General

$5,686,640

 Conservation

$10,467,606

 Health

$4,983,491

 Welfare

$11,292,874

Figure 2 - Donation Payments 2016

 

 The Arts

$525,000

 Education

$195,500

 General

$261,462

 Conservation

$749,200

 Health

$104,000

 Welfare

$498,860




 

 

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© Copyright 2017 The McLean Foundation | Mr. McLean’s Photograph Copyright Karsh, Ottawa