Kate Macy Ladd
Catherine ("Kate") Everit Macy Ladd (April 6, 1863 – August 27, 1945) was an American philanthropist who founded and endowed the Josiah Macy, Jr. Foundation in honor of her father.[1]
Kate Macy Ladd | |
|---|---|
| Born | Catherine Everit Macy April 6, 1863 New York City, New York, U.S.A. |
| Died | August 27, 1945 (aged 82) |
| Nationality | American |
| Occupation | philanthropist |
| Known for | Josiah Macy, Jr. Foundation Natirar estate |
| Spouse(s) | Walter Graeme Ladd
( m. 1883; died 1933) |
| Parent(s) | Josiah W. Macy Jr. and Louisa Everett |
| Family | V. Everit Macy (brother) |
Biography
Kate was born in New York City, a descendant of Thomas and Sarah Macy, Massachusetts settlers in the late 1630s. She was a granddaughter of Captain Josiah Macy, originally of Nantucket, who founded a firm that became New York's first oil refinery in the 1860s (later sold to the Standard Oil Company).[2]
Kate's father died in 1876 at only 39 years old, when Kate was still a teenager. Upon her father's death, she inherited an estimated $15 million (equivalent to $360,141,000 in 2019). She was plagued by some disease or condition; she was described as "an invalid" since her early twenties.
At twenty years old, she married lawyer and yachtsman Walter Graeme Ladd (1857–1933) on December 5, 1883. Walter won several yachting prizes, including some with his schooner, the Etak ("Kate" spelled backwards).
In 1925, she received an honorary Master of Arts degree from New Jersey College for Women.[1]
In 1930, amidst the Great Depression, Ladd created the foundation named for her father with $5 million initial endowment (equivalent to $76,524,000 in 2019) to be used for "preventing and curing disease and relieving human suffering."[2] The foundation was enormously successful. Within 15 years, its endowment had grown to $7 million and it had given away from $4.5 to $5 million to various causes, primarily to universities and agencies around the world. One of its earliest grants was in 1930, to fund a fellowship for a "competent collaborator" for Albert Einstein. The foundation funded research and studies on health topics including the process of aging, endocrinology, nutrition, and convalescent care.[1]
After World War II began, the foundation provided aid for war veterans but also launched specific research into treatments for surgical shock and burns, antibiotics such as sulfa and penicillin, and biological studies on the use of heavy hydrogen. In 1943, with the United States fighting in the Pacific theater, the foundation endowed $150,000 to create a five-year research and teaching in program of tropical medicine at the Columbia-Presbyterian Medical Center. It also invested $1 million into a research service to distribute medical literature to armies and navies of the United States, Canada and the United Kingdom.[1]
In addition to her own foundation, Ladd gave generously to other charities.[1][3][4]
She died in 1945 in Far Hills, New Jersey, and left a further $2.5 million to the Macy foundation.[5]
Natirar estate
The Ladds turned their Peapack-Gladstone, New Jersey estate, Natirar, into a convalescent home, which was used to give free two-week vacations for working class New Yorkers. It was shut down after the war began as it was set aside as an emergency shelter for New York City, which was making preparations for a possible blitz like Britain was experiencing.[1]
On Walter Ladd's death, and in accordance with his will, Natirar was sold to King Hassan II of Morocco. On the king's death in 1999, it was inherited by his son, Mohammed VI.[6] More recently, Natirar has been leased by billionaire industrialist Sir Richard Branson of the Virgin Group. It is set to be converted into a spa, restaurant, and hotel complex called The Virgin Spa at Natirar.
References
- "Mrs. W. Ladd Dies; Philanthropist, 82; Widow of Lawyer Established Josiah Macy Jr. Foundation --Aided Many Charities". The New York Times. August 28, 1945. Retrieved July 6, 2017.
- "Mrs. Ladd Creates $5,000,000 Health Fund As Memorial to Her Father, Josiah Macy Jr". The New York Times. April 25, 1930. Retrieved July 6, 2017.
- "Hospitals Receive $20,000 Donation; Mrs. Kate Macy Ladd's Gift Is Largest of Day in United Campaign for Funds". The New York Times. December 20, 1936. Retrieved July 6, 2017.
- "$56,000 Gift Aids Hospitals' Drive; Mrs. Kate Macy Ladd Heads New List of Contributors Announced by Davis". The New York Times. 9 November 1937. Retrieved 6 July 2017.
- "Willed For Health Study; Mrs. Kate Macy Ladd Left Her Residuary Estate To Josiah Macy Jr. Foundation". The New York Times. September 14, 1945. Retrieved July 6, 2017.
- Natirar.com History Archived 2012-06-28 at the Wayback Machine