John D. Rockefeller V Donates 3 Million To Fund Generation Of US Chess Events
The Rockefeller family is one of the wealthiest in American history and one of the most philanthropic. The latest beneficiary of their familial generosity is US Chess who has received a gift of $3 million from John Davison Rockefeller V, the son of former West Virginia Governor and Senator John Davison “Jay” Rockefeller IV and Sharon Percy Rockefeller, CEO of the D.C.-based public radio and TV station WETA.
The donation includes an immediate donation of $624,000 and future donations scheduled through 2045 which would equate to $3 million if transferred today, but the expected value if paid on schedule through 2045 is $4.1 million.
This money provides immediate funding for a series of events and initiatives which have already begun or will begin in 2021 as well as future events that may start as late as 2030. Here is the full list of consequent events and initiatives.
- John D. Rockefeller III National Tournament of Elementary School State Champions (started 2020)
- GM Maurice Ashley National Tournament of K-3 State Champions (to begin by 2030)
- Paul Morphy National Tournament of K-1 State Champions (to begin by 2030)
- John T. Irwin National Tournament of Senior State Champions (renames the existing event in 2021)
- FM Sunil Weeramantry National Blitz Tournament of State Champions (started 2020)
- John D. Rockefeller IV State Invitationals Scholarship Fund (to begin by 2030)
- Sharon Percy Rockefeller State Invitationals Books Fund (to begin in 2021)
Rockefeller has already done much for the US Chess community through his position as the Scholastic Director of the Maryland Chess Association and as the chair of the US Chess Development Committee and vice-chair of the US Chess Scholastic Council (Rockefeller assisted organizationally in getting ChessKid to attend a Baltimore scholastic tournament in 2019).
The complete story of the donation, the forthcoming events, and the Rockefeller's family history and work with chess is detailed in the December cover story for Chess Life magazine.
Major news from US Chess: John D. Rockefeller V has donated $3 million to our 501(c)(3) organization. Read all about it here: https://t.co/QlCMQXUFlh pic.twitter.com/5ee9tgZsMd
— US Chess (@USChess) November 23, 2020
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