David Packard - Philanthropy

Philanthropy

From the early 1980s until his death in 1996, Packard dedicated much of his time and money to philanthropic projects. Prompted by his daughters Nancy Packard Burnett and Julie Packard, in 1978 Dave and Lucile Packard created the Monterey Bay Aquarium Foundation. The couple eventually donated $55 million to build the new aquarium, which opened in 1984 with Julie Packard as executive director. In 1987, Packard gave $13 million to create the Monterey Bay Aquarium Research Institute, and the David and Lucile Packard Foundation has since provided about 90% of the Institute's operating budget.

In 1964, the couple founded the David and Lucile Packard Foundation. In 1986, they donated $40 million toward building what became the Lucile Packard Children's Hospital at Stanford University; the new hospital opened in June 1991. Packard and Hewlett made a combined donation of $77 million in 1994, for which the university named the David Packard Electrical Engineering Building in his honor. The building is located adjacent to the William Hewlett Teaching Center.

Packard was a member of the American Enterprise Institute's board of trustees. He died on March 26, 1996 at age 83 in Stanford, California, leaving the bulk of his estate to the David and Lucile Packard Foundation.

On his death, approximately $4 billion was given to the Packard Foundation, including large amounts of valuable real property in Los Altos Hills. All three Packard daughters sit on the Foundation's board of trustees.

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