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Tue May 14, 2013
San Antonio Area Foundation Receives $7 Million Gift
The San Antonio Area Foundation has received one of its largest single gifts in its history thanks to a gift bequeathed in the will of Mary Jane K Lewis.
Area Foundation Spokesman Joel Williams said Lewis had been a contributor with her late husband since 1994.
"In her will she left the Area Foundation more than $7 million to manage and to have it in a permanent fund that makes annual grants to local charities," Williams said.
Williams said Lewis was specific that the endowment will benefit some specific charities annually including St. Mark’s Episcopal Church, the Salvation Army, Boysville, Sigma Alpha Epsilon Educational Fund (for members of UT-Austin Chapter), SAMMinistries, Morningside Ministries Fellowship and The Little Church of La Villita.
Williams said Lewis lived modestly, but she was an astute investor.
In addition to managing the fund, Lewis designated 42 percent of the fund to go to the Area Foundation to distribute a portion annually to charities the foundation assists.
Williams said this year that number is about 70 charities, but could be more in the future because of her gift.
- Learn more about the San Antonio Area Foundation online at: www.saafdn.org