The sale of LORD Corporation, the century-old, privately-held manufacturing company, to Parker-Hannifin has led to the distribution of more than $1 billion to four charitable foundations that support institutions seeking to advance education and research.
Cleveland Clinic, Duke University, the Massachusetts Institute of Technology (MIT) and the University of Southern California (USC) will benefit from the distribution of $261 million to each of the four foundations that were the recipients of gifts of stock from Thomas Lord, who led the family-owned company until his death in 1989.
Lord’s estate plan created a holding company, Jura Corporation, which owned all
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