| Benwood Foundation | |
| Formation: | 1944 |
| Type: | Charitable Foundation |
| Headquarters: | Chattanooga,TN, United States |
| Leader Title: | President |
| Leader Name: | Sarah Morgan |
| Revenue: | $6,579,953[1] |
| Revenue Year: | 2015 |
| Expenses: | $11,100,092 |
| Expenses Year: | 2015 |
| Website: | www.benwood.org |
The Benwood Foundation is a charitable foundation created in 1944 by George Hunter in honor of his uncle, Benjamin Thomas who pioneered the Coca-Cola bottling industry and founded the Coca-Cola Bottling Company. George Hunter was the heir of Benjamin Thomas, and much of the wealth related to the Coca-Cola Bottling Company passed on to the Foundation. As of 2004 The Benwood Foundation distributes between $4 and $5 million annually in grants and donations.[2]
Upon George Hunter's death in 1950, 70 percent of the Coca-Cola Bottling Company stock went to the Foundation. This led to a probate law precedent-setting lawsuit when family members sued regarding the tax status of the donation. A 1952 court ruling stated that the Foundation did not have to pay death duties, which became the responsibility of the residuary estate. The ruling was upheld on appeal.[3]
The Foundation's grantmaking focus is on Public Education, Arts & Culture, the Environment, and Neighborhood & Community Development.