Hollingsworth Funds
John D. Hollingsworth’s Legacy.
Hollingsworth Funds was established in 1976 by John D. Hollingsworth, Jr., successful textile industrialist. Upon his death at the end of 2000, almost all of his estate, valued at approximately $290 million, passed to this foundation. Under provisions of Mr. Hollingsworth’s wishes, 45% of the annual income distributions are designated for Furman University; 10% to the Greenville YMCA; and 45% to other 501(c)(3) charities operating within Greenville County. To date, Hollingsworth Funds has distributed more than $22.7M dollars in financial support.
Where do the annual funds for Grants come from?
Over a period of approximately forty years, beginning in 1940, John D. Hollingsworth, Jr. quietly went about amassing 42,000 acres, the largest holding of privately owned land in South Carolina. Verdae Properties, LLC was established in 1983 as a wholly-owned subsidiary to develop and manage Mr. Hollingsworth’s lands, keeping with his wishes that his name not be used publicly or on any advertisement. Though he passed away in 2000, Verdae Properties, LLC continues to manage large parcels across the state. The development of these properties has been purposeful and strategic. At the time of Mr. Hollingsworth’s death, Verdae Properties included a resort hotel and golf course, shopping centers, apartments and a technology business park. Long term leases are still in effect along with several thousand acres of timber managed properties.
A key example of maximizing the value of Mr. Hollingsworth’s holdings was the sale of a 407 acre parcel of property South of I-85 to develop CU-ICAR and the Millennium Campus. Additionally, an adjacent 1,100 acre tract that lies North of I-85, known as Verdae, is being developed as a master planned, mixed-use community by Verdae Development, Inc. This prime piece of real estate is a unique infill project that will add a broad range of housing and employment opportunities within the City of Greenville, and its success will provide an additional long term revenue stream to Hollingsworth Funds for its charitable activities. For more information please visit hollingsworthfunds.org.
