Kaneohe Ranch

Castle Foundation has given more than $168M since 1963

December 26, 2012

Pacific Business News

 

The Harold K.L. Castle Foundation has given more than $168 million to thousands of local nonprofits spanning the past five decades.

The Harold K.L. Castle Foundation will celebrate 50 years of giving in 2013.

The Kailua-based foundation has given more than $58 million to organizations serving Windward Oahu, and it gives an average of $6 million in grants each year.

“What a gift Harold Castle has left for our children, families and communities of Hawaii,” COO and Executive Vice President Terry George said in a statement. “I continue to marvel at the generosity of Mr. Castle and his family, and at the power of a perpetually endowed foundation to do good in this world.”

When Harold K.L. Castle died in 1967, he gave his Kailua real estate assets to the foundation, which provides funding for the grants. Today, those assets are valued at $162 million, according to a statement.