The McLean Foundation was established in 1945 by the late Mr. J. S. McLean with an initial gift of $505,400. Mr. McLean made additional gifts from time to time until his death on September 1st, 1954. These gifts, augmented by a bequest under his will, totalled $1,301,000. Mrs. J. S. McLean also made gifts and bequests to the Foundation, to a total value of approximately $450,000. In 2002, the late Mr. William McLean made a bequest to the foundation of $2,000,000.  Smaller sums were contributed by other members of the family. In the intervening years, the net assets of the Foundation have grown to $32,471,856 based on market values at December 31st, 2008. The investment policy followed by the Foundation represents an attempt to steer a middle course between fixed income investments, which offer the highest immediate income but little protection against inflation, and common stocks, which generally yield a relatively low immediate dividend but which show promise of dividend growth and appreciation in value. By this means, the Directors hope to provide substantial income available for current disbursement, with a reasonable prospect that income in future years may grow sufficiently to permit meaningful contributions in line with the increasing needs of recipient organizations. In the 64 years of its existence, The McLean Foundation has received net investment income of $37,154,473 and has paid out a total of $39,519,157.  An analysis by category of donations paid out from 1945 to 2008 is shown in Figure 1. During the past year, the Foundation has paid out a total of $1,573,000. An analysis by category is shown in Figure 2. Figure 1 - Donation Payments 1945 - 2008    The Arts $ 9,685,061  Education $6,846,426  General $4,152,009  Conservation $6,670,576  Health $4,168,491  Welfare $7,996,594   Figure 2 - Donation Payments 2008    The Arts $334,500  Education $45,000  General $295,500  Conservation $438,500  Health $54,000  Welfare $405,500
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© Copyright 2009 The McLean Foundation | Mr. McLean’s Photograph Copyright Karsh, Ottawa