19-614: The Wolfson Foundation is a large UK registered charity that awards grants to support excellence in the fields of science and medicine, health, education and the arts and humanities. It was established in 1955 and re-registered in 2014. The endowment of the Wolfson Foundation is currently some £900 million, with an annual allocation of approximately £32 million. Since 1955, over £1 billion had been awarded in grants (£2 billion in real terms), with over 14,000 projects funded. The foundation makes awards following
38-802: A baronetcy in the Queen 's 1962 New Year's Honours list, becoming Baronet as Sir Isaac Wolfson of St. Marylebone on 19 February 1962. He was elected a Fellow of the Royal Society in 1963. In 1971 he was awarded the Freedom of the City of Glasgow . He died in Israel in 1991, aged 93. Wolfson's wife, the former Edith Specterman, was a vice-president of the English Jewish Welfare Board . Isaac and Edith Wolfson's only child,
57-516: A chain of suburban cinemas and helped him financially in his early days. In 1930 he was exhibiting at a trade fair in Manchester City Hall . George Rose was then a director of Great Universal Stores , only just renamed from mere Universal Stores. Rose liked Wolfson's display and ordered 500 clocks, which for Wolfson at the time was a big order. Rose took Wolfson to lunch and showed him the G.U.S. Devonshire Street factory. Soon Wolfson
76-419: A gentler growth rate and a more corporate style. By 1970, Wolfson had sold his private business and handed over control of G.U.S. to his son Leonard. Wolfson was a brilliant financier and this was central to his early success. Later he backed French–British financier, tycoon, and politician James Goldsmith with a £1 million loan which Wolfson charged a whopping 100 per cent interest on. He also underwrote
95-546: A number of reasons: financial inexperience, an ill-advised move from Manchester to London, a fire and the recession. These troubles hastened the death of Abraham, who was already a sick man. Wolfson gradually acquired shares from the Rose brothers, using cash lent by his father-in-law and by Archibald Mitchelson , who was a friend. In 1932, he became joint managing director with George and in 1934 sole managing director. In his first eighteen months Wolfson streamlined and rationalised
114-520: A rigorous review process involving expert reviewers and advisory panels, and is recognised in the sector as a funder that listens actively to its applicants. Grants are generally given for capital infrastructure (new build, refurbishment and equipment) supporting excellence in the fields of science and medicine, health, education and the arts and humanities. The foundation was established by and named after Sir Isaac Wolfson , chairman of Great Universal Stores (GUS). His wife and his son Lord Wolfson , were
133-731: A son, Leonard , was born in 1927. Archibald Mitchelson Sir Archibald Mitchelson, 1st Baronet (1 April 1878 – 30 December 1945) was a British investment banker . He was chairman of Mitchelson Partners Ltd, as well as D. Davis & Sons Ltd, the shipbuilders J. Samuel White & Co Ltd, Old Silkstone Collieries Ltd, Admiralty Collieries Ltd, North's Navigation Collieries Ltd, Wharncliffe Collieries Ltd, Yorkshire Collieries Ltd, Great Universal Stores Ltd, Anglo-Continental Guano Works Ltd, Pangnga River Tin Concessions Ltd, Genatosan Ltd, and Kamunting Tin Dredging Ltd. He
152-530: A very strong business and the principal source of his wealth. He also had other successful business ventures. He was succeeded by his son Leonard Wolfson . Isaac Wolfson was the son of a Jewish cabinet maker, Solomon Wolfson, an immigrant from Rajgród , Poland who settled in the Gorbals in Glasgow , Scotland. His mother was Nechi Surah Wilamowski. He was educated at Queen's Park School , Glasgow. He
171-507: The hire purchase agreements of washing machine entrepreneur John Bloom at Rolls Razor but withdrew financial support in 1964, leading to the company's voluntary liquidation . In 1954 Wolfson was part of Kemsley-Winnick Television , which won the initial ITV weekend contracts for the Midlands and the North of England. However, shortly after the award of the contracts the consortium
190-612: The Wolfson Building at Trinity College, Cambridge , and the Wolfson Room at St David's College , among many other projects over the years; he thus became the only non-religious figure to have a college named after him at both Oxford and Cambridge. Professorships named after him exist at Bar-Ilan , Haifa , Jerusalem , Oxford and Tel Aviv . He was also a benefactor of the John Rylands Library donating
209-429: The company. A loss of £55,000 in 1932 became a profit of £330,000 the next year. From 1934 onwards Wolfson acquired companies with large hire purchase debts and property assets, some for G.U.S. and some for his own business. These acquisitions provided cash for more acquisitions. Acquired companies included Midland and Hackney, Drages, Alexander Sloan, Jays and Campbells, British and Colonial and Smart Brothers. Wolfson
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#1732772185441228-523: The cost of a small extension in 1961. The Edith and Isaac Wolfson Trust financed two housing projects in Israel , both called Kiryat Wolfson , and the family supported the founding of Wolfson Medical Center in Tel Aviv . Wolfson is one of a handful of figures to have both Cambridge and Oxford colleges named after them. Until 1960 Wolfson lived in Worcester ; he then moved to London . He received
247-558: The other founder trustees. The current chairman is the Hon Dame Janet Wolfson de Botton DBE, and the chief executive is Paul Ramsbottom. This article about an organisation in England is a stub . You can help Misplaced Pages by expanding it . Isaac Wolfson Sir Isaac Wolfson, 1st Baronet FRS ( / ˈ w ʊ l f s ən / ; 17 September 1897 – 20 June 1991) was a Scottish businessman and philanthropist. He
266-412: Was G.U.S.'s chief buyer but he retained his own business and from G.U.S. took profit share and share options in lieu of salary. Universal Stores was founded in 1900 by Abraham, George and Jack Rose. The company developed a mail-order trade, sending out small (by later standards) catalogues. In 1931, just after Wolfson joined, it went public but got into serious trouble and the shares plummeted. There were
285-649: Was appointed president of the United Synagogue , the first to be selected from descendants of the nineteenth century waves of immigrants. In 1955, Wolfson established the Wolfson Foundation , to aid in the advancement of education, health and youth activities. This supported the establishment of Wolfson College, Oxford (where he was a Founder Fellow ), Wolfson College, Cambridge , the Wolfson Building at Somerville College, Oxford ,
304-466: Was highly capable in mathematics but could not afford to train as an accountant so he became a salesman for his father, who made cheap tables and chairs for local people. He is said to have been a brilliant salesman. At this time he made many business friends who worked with him ever afterwards. In 1920 he left for London . There he started his own business, selling clocks, mirrors and upholstery. In 1926 he married Edith Specterman. His father-in-law owned
323-439: Was managing director of Great Universal Stores (G.U.S. or Gussies) 1932–1947 and chairman 1947–1987. He established the Wolfson Foundation to distribute most of his fortune to good causes. Great Universal Stores was a mail order business. He joined the company as a merchandising controller in 1932, becoming joint managing director in the same year. The company was in trouble when he joined but he turned it round and made it into
342-423: Was shown not to have the financial backing required, causing it to collapse. Wolfson was a devout orthodox Jew. He followed the example of his father and the middle-European community from which he came. He said, "No man should have more than £100,000. The rest should go to charity". He gave immense amounts to charities: from 1948 he included Zionist charities at the urging of his friend Israel Sieff . In 1962 he
361-400: Was too old to go to war. As World War II approached and during the war he continued to buy. He reasoned that if Hitler won the war his businesses would be finished anyway, but, if not, then the opportunities would be enormous. In 1932, G.U.S. was worth £700,000, in 1938 £1,980,000 but by 1948 it was £16 million. This remarkable growth rate and aggressive acquisition plan was then succeeded by
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