When Beryl Buck, Marin County, California widow, died May 30, 1975 at age 75, she left $ 7.6 million "exclusively non-profit charitable, religious or educational purposes in providing care for the needy in Marin County, California, and for other non-profit charitable, religious or educational purposes in this county. " For many years, Buck and her husband, a physician, lived in Ross, a wealthy city in Marin County, north of San Francisco. When Buck died, the money was invested mainly oil Belridge. The oil company was private and owned the land, which was rich in heavy crude oil reserves in Southern California. By the time the lengthy probate proceedings ended, Belridge oil was sold to Shell Oil Company and the total amount in Baku target increased from $ 7.6 million to $ 260 million. Under the options contained in the will, Wells Fargo Bank and John Elliott Cook, attorney Buck, investment cooperation were appointed trustees, with the San Francisco Foundation («the Fund"), which have the right to direct the distribution of income. Also provides that "income should always be distributed no later than the end of the year following the year of receipt." This position will have consequences for the fund's strategy and allocation of funds. This study looks at what happened to the money Buck trust and components involved. "Hide
by Robert R. Augsburger, Victoria Chan, William F. Meehan III Source: Stanford Graduate School of Business 21 pages. Publication Date: January 1, 1998. Prod. #: SI106A-PDF-ENG
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