Julius Rosenwald (1862-1932) – Businessman & Philanthropist
Julius Rosenwald is best known as a part-owner and leader of Sears, Roebuck and Company and for establishing the Rosenwald Fund, which donated millions of matching funds to support education of African American children in the rural South. Rosenwald and his fund donated over $70 million to public schools, colleges and universities, museums, Jewish charities and black institutions. The rural school program contributed more than four million dollars in matching funds to the construction of more than 5,000 schools, shops, and teachers’ homes in the South. Rosenwald commissioned one of Chicago’s largest philanthropic housing developments: the Michigan Boulevard Garden Apartments. One of the first American housing developments to mix residential, commercial and social uses and still stands. Rosenwald planned the development of 421 units to provide sound housing for African Americans and to relieve the tremendous overcrowding due to Chicago’s pervasive racial segregation. He invested $2.7 million in the project, receiving only a 2.4% return during the first seven years.
We honor Julius Rosenwald because his philanthropic work makes him a Legacy Champ. If you want to be a Legacy Champ in your own special way, then contact The Mendel Law Firm, L.P. for a free initial consultation on estate planning, trust planning, and/or probate issues.