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The Harry A. and Margaret D. Towsley Foundation

Profile

Last Updated: 2016-06-06

At A Glance

The Harry A. and Margaret D. Towsley Foundation

240 W. Main St., Ste. 2400, P.O. Box 349

Midland, MI United States 48640-5191

Telephone: (989) 837-1100

Type of Grantmaker

Independent foundation

Additional Descriptor

  • Family foundation

Financial Data

(yr. ended 2014-12-31)

Assets: $59,726,402

Total giving: $2,346,600

EIN

386091798

BRIDGE Number

0115120510

Background

Incorporated in 1959 in MI - Harry and Margaret Towsley were both born in the early 1900s and raised in Midland, Michigan. Margaret was a daughter of Herbert Henry Dow, the founder of The Dow Chemical Company. The couple remained residents of Ann Arbor for the rest of their lives until their deaths in 1993 and 1994. They raised five children, three of whom survive and are active trustees of the Towsley Foundation. In 1959, Margaret created the Harry A. and Margaret D. Towsley Foundation with an initial gift of $4 Million in Dow Chemical Company stock. While the foundation's initial goals were typical of general family foundations, its mission later became focused on programs promoting education, health care, shelter, and nutrition for children. As its assets grew, areas of concentration expanded into college and university education, medical education, Planned Parenthood, and interdisciplinary programs with the schools of law and social work. These areas reflected Dr. and Mrs. Towsley's common interest in teaching. Dr. Towsley served as the foundation's manager and president until the mid-1980s when the couple's oldest daughter, Margaret Ann (Ranny) Riecker, took the position. She, in turn, served until 1999 when her sister, Lynn Towsley White, followed her. The foundation's assets grew from the initial $4 million in 1959 to over $81 million at the end of the century. After the death of Dr. and Mrs. Towsley, the foundation's executive offices were moved from Ann Arbor to Midland, Michigan

Purpose and Activities

Support for medical and preschool education, social services, and continuing education and research in the health sciences.

Fields of Interest

Subjects
  • Arts and culture
  • Diseases and conditions
  • Early childhood education
  • Education
  • Higher education
  • Human services
  • Medical education
Population Groups
  • Academics
  • Children and youth
  • Economically disadvantaged people
  • Low-income and poor people

Financial Data

Year ended 2014-12-31

Assets: $59,726,402 (market value)

Expenditures: $2,738,544

Total giving: $2,346,600

Qualifying distributions: $2,412,092