The story
The Buck Foundation Trust was created by Beryl Hamilton Buck after the death in 1953 of her husband, pathologist Leonard W. Buck. Leonard's father, Frank Buck, was one of the founders of Belridge Oil. When Beryl Buck died in 1975, the bulk of the estate became part of the San Francisco Foundation, about $7.6 million dedicated to "charitable purposes in Marin County" including, "extending help to the problems of aging." The Belridge Oil stock in the trust was bought in 1979 by Shell Oil for $253 million, increasing the trust's value substantially.
Attempts by the San Francisco Foundation to use the cy pres doctrine to spend outside of Marin County resulted in litigation which the SF Foundation lost. As part of a 1986 court settlement, the Marin Community Foundation was established to administer the trust, valued in 2013 at approximately $1 billion. The settlement required that 80% of the trust's annual earnings be distributed to causes specific to Marin County. The remaining 20% is to be distributed among three Marin County organizations:
The Buck Institute for Research on Aging
The Buck Institute for Education
Alcohol Justice, formerly named The Marin Institute, which deals with alcohol-related problems.
In 2016, the institute began talks with the Gladstone Institutes, a San Francisco-based foundation, regarding a possible research alliance or merger. That discussion ended in October 2016.
In December 2022, the institute hosted The Longevity Summit, a two-day conference on ageing, the emerging new biotech companies in the field, and their innovations.
From Wikipedia’s article on Buck Institute for Research on Aging, shared under CC BY-SA 4.0.5
