Joyce Young
Encyclopedia
Joyce Young is a Canadian
woman famous for a single act of philanthropy
and for being the aunt of Red Hat
Inc. founder Bob Young.
Young and her husband Bill Young, both residents of Ancaster, Ontario
, opted to help their nephew Bob with his high-tech venture shortly after its founding. Red Hat
, Inc. is a company dedicated to open source software such as Red Hat Linux
, and Red Hat Enterprise Linux
.
When Red Hat's stock rose significantly after its initial public offering
in 1999, they were able to sell enough stock to recoup their initial investment, but chose to retain some stocks.
By January 2000, the remaining stock was valued in the millions. This enabled her to make, in June 2000, a donation of $40 million dollars
to the Hamilton Community Foundation
to be used largely in improvement of Hamilton
-area health facilities, an act that represented one of the single largest charitable donations in Canadian history. A long-time volunteer with local community groups, she later claimed her biggest concern was in giving away the money responsibly.
After graduating from Hillfield, Bill went off to war, serving in England
, Italy
, and northwest Europe. The couple met after Bill returned from the war.
Joyce left the University of Toronto to become a full time home-maker. The couple have three children, Douglas, Catherine, and William.
Established by 2552 Major (Ret'd) Bill Young (RMC 1936) and Joyce Young, the J.D. Young Memorial Lecture at Royal Military College of Canada
and other activities by the Young Memorial Visitor honour the memory of 2360 Major John Douglas (Doug) Young (RMC 1937) who was killed in action
on D-Day
, as well as his father, the late Maj.-Gen. James V. Young (RMC 1911). Major Doug Young, having no known grave, is commemorated in the Bayeux Memorial in Calvados, France
.
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
woman famous for a single act of philanthropy
Philanthropy
Philanthropy etymologically means "the love of humanity"—love in the sense of caring for, nourishing, developing, or enhancing; humanity in the sense of "what it is to be human," or "human potential." In modern practical terms, it is "private initiatives for public good, focusing on quality of...
and for being the aunt of Red Hat
Red Hat
Red Hat, Inc. is an S&P 500 company in the free and open source software sector, and a major Linux distribution vendor. Founded in 1993, Red Hat has its corporate headquarters in Raleigh, North Carolina with satellite offices worldwide....
Inc. founder Bob Young.
Young and her husband Bill Young, both residents of Ancaster, Ontario
Ancaster, Ontario
Ancaster is a picturesque and historic community located on the Niagara escarpment, within the greater area of the city of Hamilton, Ontario, Canada. This former town was founded officially in 1793 and was one of the oldest European communities established in present day Ontario along with Windsor...
, opted to help their nephew Bob with his high-tech venture shortly after its founding. Red Hat
Red Hat
Red Hat, Inc. is an S&P 500 company in the free and open source software sector, and a major Linux distribution vendor. Founded in 1993, Red Hat has its corporate headquarters in Raleigh, North Carolina with satellite offices worldwide....
, Inc. is a company dedicated to open source software such as Red Hat Linux
Red Hat Linux
Red Hat Linux, assembled by the company Red Hat, was a popular Linux based operating system until its discontinuation in 2004.Red Hat Linux 1.0 was released on November 3, 1994...
, and Red Hat Enterprise Linux
Red Hat Enterprise Linux
Red Hat Enterprise Linux is a Linux-based operating system developed by Red Hat and targeted toward the commercial market. Red Hat Enterprise Linux is released in server versions for x86, x86-64, Itanium, PowerPC and IBM System z, and desktop versions for x86 and x86-64...
.
When Red Hat's stock rose significantly after its initial public offering
Initial public offering
An initial public offering or stock market launch, is the first sale of stock by a private company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises...
in 1999, they were able to sell enough stock to recoup their initial investment, but chose to retain some stocks.
By January 2000, the remaining stock was valued in the millions. This enabled her to make, in June 2000, a donation of $40 million dollars
Canadian dollar
The Canadian dollar is the currency of Canada. As of 2007, the Canadian dollar is the 7th most traded currency in the world. It is abbreviated with the dollar sign $, or C$ to distinguish it from other dollar-denominated currencies...
to the Hamilton Community Foundation
Hamilton Community Foundation
Hamilton Community Foundation is a Community Foundation that pools donations and Financial endowments into a coordinated investment and grant-making facility dedicated primarily to the social improvement of Hamilton, Ontario...
to be used largely in improvement of Hamilton
Hamilton, Ontario
Hamilton is a port city in the Canadian province of Ontario. Conceived by George Hamilton when he purchased the Durand farm shortly after the War of 1812, Hamilton has become the centre of a densely populated and industrialized region at the west end of Lake Ontario known as the Golden Horseshoe...
-area health facilities, an act that represented one of the single largest charitable donations in Canadian history. A long-time volunteer with local community groups, she later claimed her biggest concern was in giving away the money responsibly.
Projects
Joyce Young graduated from Strathallan School in ’43 and Bill Young graduated from Hillfield in ’35.- $50,000 to Hillfield Strathallan CollegeHillfield Strathallan CollegeHillfield Strathallan College is a Canadian private, co-educational day school in Hamilton, Ontario. The academic program runs from Junior Kindergarten or Montessori, until Grade 12. The current headmaster is Mr...
.
After graduating from Hillfield, Bill went off to war, serving in England
England
England is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west; the Irish Sea is to the north west, the Celtic Sea to the south west, with the North Sea to the east and the English Channel to the south separating it from continental...
, Italy
Italy
Italy , officially the Italian Republic languages]] under the European Charter for Regional or Minority Languages. In each of these, Italy's official name is as follows:;;;;;;;;), is a unitary parliamentary republic in South-Central Europe. To the north it borders France, Switzerland, Austria and...
, and northwest Europe. The couple met after Bill returned from the war.
- $50,000 towards the beautification of the Royal Military College of CanadaRoyal Military College of CanadaThe Royal Military College of Canada, RMC, or RMCC , is the military academy of the Canadian Forces, and is a degree-granting university. RMC was established in 1876. RMC is the only federal institution in Canada with degree granting powers...
Memorial Arch. - $50,000 towards the Juno Beach CentreJuno Beach CentreThe Juno Beach Centre or, in French, Centre Juno Beach, is a museum located in Courseulles-sur-Mer in the Calvados region of Normandy, France...
.
Joyce left the University of Toronto to become a full time home-maker. The couple have three children, Douglas, Catherine, and William.
Established by 2552 Major (Ret'd) Bill Young (RMC 1936) and Joyce Young, the J.D. Young Memorial Lecture at Royal Military College of Canada
Royal Military College of Canada
The Royal Military College of Canada, RMC, or RMCC , is the military academy of the Canadian Forces, and is a degree-granting university. RMC was established in 1876. RMC is the only federal institution in Canada with degree granting powers...
and other activities by the Young Memorial Visitor honour the memory of 2360 Major John Douglas (Doug) Young (RMC 1937) who was killed in action
Killed in action
Killed in action is a casualty classification generally used by militaries to describe the deaths of their own forces at the hands of hostile forces. The United States Department of Defense, for example, says that those declared KIA need not have fired their weapons but have been killed due to...
on D-Day
D-Day
D-Day is a term often used in military parlance to denote the day on which a combat attack or operation is to be initiated. "D-Day" often represents a variable, designating the day upon which some significant event will occur or has occurred; see Military designation of days and hours for similar...
, as well as his father, the late Maj.-Gen. James V. Young (RMC 1911). Major Doug Young, having no known grave, is commemorated in the Bayeux Memorial in Calvados, 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...
.
Quotes
- "While I respect Bob as a businessman, I quite honestly never thought I'd see my money again. I really just wanted to support him. After holding the company's stock for three years, I took out my original investment, and left some money in just for fun."