29 Aug 2014 | 4:04 PM | CR $69.59  -0.220  volume 141,700
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philanthropy

In 1904, R.T. Crane said “a loyal employee gives something besides his labor and the employer should recognize that fact,” and toward the end of his life he set aside one million dollars as a fund for “the purpose of taking care of my men.” Two years after R.T. Crane’s death, members of his family honored his wish by establishing The Crane Fund to “provide a means for giving support to deserving and needy employees after they have, by reason of age or disability, become unable to engage in active work.” Today that bequest is worth hundreds of millions of dollars, and The Crane Fund, along with two other company-managed charitable trusts, lives on as a lesson in the power of individual leadership and responsibility.