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Disney bucks Hollywood trend with big donation.


When Walt Disney Noun 1. Walt Disney - United States film maker who pioneered animated cartoons and created such characters as Mickey Mouse and Donald Duck; founded Disneyland (1901-1966)
Disney, Walter Elias Disney
 Co. Chairman and Chief Executive Michael D. Eisner announced last week that the Burbank-based company plans to donate $25 million to the Wait Disney Concert Hall project, it marked a possible sea change for philanthropic Hollywood.

While the entertainment industry has been generous to AIDS treatment programs and universities, it often has been criticized for not supporting civic projects like Disney Concert Hall.

Prior to last week, the project's biggest donors were Ralphs/Food 4 Less, whose foundation donated $15 million; Atlantic Richfield Co., which gave $10 million; and BankAmerica Corp., Wells Fargo Wells Fargo

armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147]

See : Protectiveness


Wells Fargo

company that handled express service to western states; often robbed. [Am. Hist.
 & Co. and Times Mirror Co., each of which contributed $5 million.

But Disney - as well as other entertainment companies - had been conspicuously absent from the list of corporate donors.

"They have been involved in some of their own projects," said Eli Broad, one of Disney Concert Hall's chief fund-raisers and chief executive of SunAmerica Inc. "But it seems that in many cases they prefer to be with their peers and themselves rather than in a broader community."

Broad attributed the lack of involvement to the constant change of management within the studios, but he added that attitudes may be changing.

Eisner last week said his company waited to donate money to the Concert Hall until a $5 million matching grant matching grant Academia Non-peer-reviewed funding in which a commercial enterprise, foundation, or philanthropy, federal government, contributes a sum of money that 'matches' a financial contribution made by an institution, university or hospital.  from Disney Vice Chairman Roy E. Disney Roy Edward Disney, KCSG, (born January 10, 1930) was a longtime senior executive for The Walt Disney Company, which his father Roy Oliver Disney and his uncle Walt founded.  and his wife Patty could be secured, and a performing arts space designated for the California Institute of the Arts California Institute of the Arts
 known as CalArts

U.S. private institution of higher learning in Valencia. Created in 1961 through the merger of two other art institutes, it was the first in the U.S.
 - a university started with money from company founder Wait Disney - could be arranged.

Eisner acknowledged that Hollywood has not been as involved as other industries in civic projects, but he stressed the industry's philanthropic bent.

"I think the entertainment industry is unbelievably generous philanthropically in all sons of projects, and always has been - maybe the most generous of all industries I've been involved with," Eisner said. "They have not been involved in a major way in downtown L.A. because they've had other priorities."

Disney's philanthropic work includes founding a non-profit athletic program for children in poor neighborhoods; helping rebuild South L.A.'s First African Methodist Episcopal Zion Church African Methodist Episcopal Zion Church, Methodist denomination. It was founded in 1796 by black members of the Methodist Episcopal Church in New York City and was organized as a national body in 1821. , which was damaged in a fire this summer; and selling light bulbs from Disneyland's retired Main Street Electrical Parade The Main Street Electrical Parade is a regularly-scheduled parade, created by Bob Jani, famous for its long run at Disneyland at the Disneyland Resort most summers between 1972-1975, 1977-1982, and 1984-1996.  to raise money for children's charities.

Disney's $25 million donation is a "challenge gift," meaning that another $25 million must be secured - $5 million of which was already given by Roy E. and Patty Disney - before the company is obligated ob·li·gate  
tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates
1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force.

2. To cause to be grateful or indebted; oblige.
 to pay.
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Article Details
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Title Annotation:Walt Disney Co.
Author:Taub, Daniel
Publication:Los Angeles Business Journal
Date:Dec 8, 1997
Words:414
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