America is by far the most generous nation on earth. No other country comes close to our level of support for global relief efforts. As individuals we give generously, even when times are tough. Foundations hold a vital role in this all-American success story, but few people know how foundations are formed. Each private foundation is as unique as the individual who created it.
Bill Daniels, founder of the Daniels Fund, is one such individual.
Bill Daniels at the University of Colorado School of Law, 1986Widely regarded as the innovator and dealmaker who established the cable television industry, Bill was much more than a successful business leader; he was concerned with the well-being of others, and treated all people with the same dignity and respect.
He grew up during a period of uncertainty in an America facing great challenge, much like today. He was nine when the Great Depression began...old enough to recognize and appreciate his parents’ struggles to provide for their four children. He grew up quickly during this time, forming many of the core principles that would guide his entire life. He would go on to become a highly decorated aircraft carrier-based fighter pilot during World War II and the Korean Conflict. Like many members of the Greatest Generation, he returned home grateful to be alive, and quietly returned to business.
No one could have predicted the future about to unfold.
In 1952, Bill was operating a small insurance company in Casper, Wyoming. Returning to Casper after visiting his family in Hobbs, New Mexico, Bill encountered television for the first time during a stop in Denver. He was captivated, and he wanted to see more TV in Casper. But he learned that many small towns did not have access to this amazing invention. However, he did see business opportunity by recognizing people would be willing to pay to receive TV in their homes. This realization marked the launch of the cable television industry, and a transformation of the entire telecommunications industry.
It also put Bill on the path to becoming a billionaire.
Bill believed that honesty and integrity were his most valuable business assets. He always insisted on doing the right thing over profit or power. In his mind, compromising your ethics was always a losing proposition in the long run, no matter how great the immediate gain. He established a profit-sharing plan for his associates to reward them for their hard work and dedication. These qualities earned him tremendous respect and loyalty in the cable industry and throughout the business world.
The entrepreneurial spirit that helped Bill achieve success in his business and personal life was also evident in his philanthropy.
In 1987, he established Young Americans Bank to teach youth how to handle bank accounts and personal finance through hands-on experience, enabling them to prosper in our free enterprise system. Concerned that lapses in business ethics would undermine free enterprise, he worked with the University of Denver to integrate ethics, values, and social responsibility into the business school curriculum. The school was named the Daniels College of Business in 1994. In the late 1990’s, Bill funded the 35,000 square-foot Daniels Children’s Pavilion, which provides a four-day program for children whose parents are in recovery at the Betty Ford Center.
When when he died in the year 2000, Bill’s legacy was made permanent as his estate—valued at over $1 billion—transferred to the Daniels Fund. The Daniels Fund, a private foundation, operates the Daniels Fund Grants Program and the Daniels Fund Scholarship Program benefiting the citizens of Colorado, New Mexico, Utah, and Wyoming.
Over the past ten years the Daniels Fund has awarded some $450 million in grants to outstanding nonprofit organizations, and college scholarships to deserving students. As a result of skilled and careful governance, the assets of the foundation have grown to over $1.2 billion.
Foundations are born from business leaders like Bill Daniels who are dedicated to improving the lives of people in the community. From large foundations to small donor-advised funds, it is the freedom and opportunity we enjoy as Americans that creates business success, and in turn, prompts concerned individuals and corporations to invest in their communities by establishing foundations that respond to crucial needs.
Foundations and nonprofits work tirelessly with the public and private sectors to support those who have been challenged in these troubled times. In communities across the nation, people continue to give as generously as they can. And philanthropy will continue working to embrace, inspire, and educate people throughout the community...and those yet to come.
Linda Childears is president and chief executive officer of the Daniels Fund. For more information, visit www.DanielsFund.org
