Some Wealthy Donors Impart a Major Gift through their Business

One such case example is Atlanta's Black Gay Millionaire of the mid-20th Century, Norris B. Herndon.

Incredibly generous and son of #business titan and #community #leader, Alonzo Herndon, Norris and his family valued and contributed greatly to support the roots of the NAACP, as well as to the Urban League of Greater Atlanta, and Tuskegee University. 

The family's #wealth was originally built from his #entrepreneurial father’s business, Atlanta Life Insurance Company (recently acquired by Atlanta Life Holdings in 2023).

After his father Alonzo died, Norris Herndon took over the helm and exponentially grew the firm’s size to over $100 million by the mid-1970s. 

His sexuality, although known of those closest around him, was never made public. 

In his lifetime after his father's passing, Norris continued to financially support HBCUs, local YMCA’s, and several civil rights groups, among many other causes. 

When Norris Herndon died, he left his #business to the Alonzo F. and Norris B. Herndon Foundation, which retained 70% ownership of the Atlanta Life Insurance Company.

Photo Source: The Reckoning, an initiative of the Counter Narrative Project - https://lnkd.in/ep_z94Kp

====> Inbox me: linkedin.com/in/perrymonastero for more stories of #plannedgifts and my November 2023 report on charitable planning I shared at the annual Charitable Gift Planners Conference in Chicago.