De Rance Corporation
Encyclopedia
The De Rance Corporation was the world's largest Catholic
charity
until its dissolution in 1992. It was named for Armand Jean le Bouthillier de Rancé
, the 17th-century abbot of the monastery at La Trappe
, France
.
Begun in the early 1950s by Harry G. John
, a grandson of Miller Brewing
founder Frederick Miller
, De Rance was at one time worth $188 million. In 1983-1984, the charity's value plummeted to $83 million as a result of Harry John's questionable expenditures and investments of its assets. John's wife, Erica, and Dr. Donald Gallagher, two of the three foundation directors, subsequently sued to have John removed as a De Rance director. Harry John was found guilty of gross mismanagement and was permanently removed from the De Rance board in August, 1986.
When Harry John died in 1992, the De Rance board voted to award $30 million of the charity's $100 million in assets to several of John's favorite causes. The remaining $70 million was used to create a new charitable organization, the Archdiocese of Milwaukee Supporting Fund.
Catholic
The word catholic comes from the Greek phrase , meaning "on the whole," "according to the whole" or "in general", and is a combination of the Greek words meaning "about" and meaning "whole"...
charity
Charitable organization
A charitable organization is a type of non-profit organization . It differs from other types of NPOs in that it centers on philanthropic goals A charitable organization is a type of non-profit organization (NPO). It differs from other types of NPOs in that it centers on philanthropic goals A...
until its dissolution in 1992. It was named for Armand Jean le Bouthillier de Rancé
Armand Jean le Bouthillier de Rancé
Armand Jean le Bouthillier de Rancé , abbot and founder of the Trappist Cistercians....
, the 17th-century abbot of the monastery at La Trappe
La Trappe Abbey
La Trappe Abbey or La Grande Trappe is a monastery in Soligny-la-Trappe, Orne, France, and the house of origin of the Order of Cistercians of the Strict Observance , Reformed Cistercians or Trappists, to whom it gave its name.-History:The site of the famous La Trappe Abbey was for centuries...
, France
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
.
Begun in the early 1950s by Harry G. John
Harry G. John
Harry G. John, Jr. was an American philanthropist, founder of the De Rance Foundation and heir to the Miller Brewing Company fortune through his grandfather, Frederick Miller.- Early years :...
, a grandson of Miller Brewing
Miller Brewing
The Miller Brewing Company is an American beer brewing company owned by the United Kingdom-based SABMiller. Its regional headquarters are located in Milwaukee, Wisconsin and the company has brewing facilities in Albany, Georgia; Chippewa Falls, Wisconsin; Eden, North Carolina; Fort Worth, Texas;...
founder Frederick Miller
Frederick Miller
Frederick Edward John Miller was a brewery owner who founded the Miller Brewing Company at the Plank Road Brewery in 1855. He learned the brewing business in Sigmaringen.Miller was born in Germany, and was married to Josephine Miller in Friedrichshafen, Germany on June 7, 1853...
, De Rance was at one time worth $188 million. In 1983-1984, the charity's value plummeted to $83 million as a result of Harry John's questionable expenditures and investments of its assets. John's wife, Erica, and Dr. Donald Gallagher, two of the three foundation directors, subsequently sued to have John removed as a De Rance director. Harry John was found guilty of gross mismanagement and was permanently removed from the De Rance board in August, 1986.
When Harry John died in 1992, the De Rance board voted to award $30 million of the charity's $100 million in assets to several of John's favorite causes. The remaining $70 million was used to create a new charitable organization, the Archdiocese of Milwaukee Supporting Fund.