Hershey Trust: A SEVEN BILLION Enterprise
December 16th, 2009 | by BGuzzardi |
Hershey Co. is a SEVEN BILLION dollar profitable nonprofit with near iconic status in mid state Pennsylvania. Hershey Co. provides many very valuable community services including education. It is, nevertheless, in many respects very analogous to a profitable business and there is a profit motive for many masked by the charitable nature of the enterprise.
Ex-leader criticizes Hershey Trust Co. Former president O’Brien says the 8-member board that oversees the Derry Twp. school’s endowment and operation needs to be more transparent.“The recently retired president of the Milton Hershey School is criticizing the organization that oversees the school’s $7 billion endowment and operation for failing to be more transparent in its decision-making processes. Some alumni and community members have voiced similar complaints about the Hershey Trust Co. But it is unusual to hear such comments from an insider like John O’Brien, who retired in June after leading the school for seven years. “