The Jim and Margaret Krum Foundation has set aside $8.4 million to provide college and graduate-school scholarships for local students. Carolyn Torgersen, a spokeswoman for the Community Foundation of the Lowcountry, said that it is the largest legacy gift a fund under the Community Foundation's umbrella has received.
Martin Cohn, chairman of the new foundation's board said that the scholarships are awarded to students who excel in school, are ambitious and are active in community service.
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William D. Eggers and Paul Macmillan of Dowser write about the social entrepreneurs slowly and steadily dirsupting the world of philanthropy. According to Forbes, philanthropy disruptors are those that believe “no one company is so vital that it can’t be replaced and no single business model too perfect to upend.”