The Board of Directors approves its first major carve-out.
As Norman’s grantmaking approach matured, the Board of Directors discussed two distinct kinds of philanthropy: grants made by consensus on shared institutional priorities, and grants reflecting the personal interests of individual family members. To formalize this distinction, the Board decided to incorporate five affiliated family funds by 1966: the Emsa Fund (originally the Franklin Fund), the Hickrill Foundation (originally the Hickrill Chemical Research Foundation), the Lassalle Fund, the Lubo Fund, and the Normandie Foundation. They then approved the transfer of $500,000 from Norman to each of the family funds, for a total of $2,500,000 which allowed the Aaron E. Norman Fund to sharpen its focus on shared strategic priorities, while giving individual family members the autonomy to pursue their own interests through their respective funds.