George Eastman - Later Years

Later Years

Eastman was associated with Kodak company in an administrative and an executive capacity until his death; he contributed much to the development of its notable research facilities. In 1911 he founded the Eastman Trust and Savings Bank. While discouraging the formation of unions at his manufacturing plant, he established paternal systems of support for his employees.

He was one of the outstanding philanthropists of his time, donating more than $100 million to various projects in Rochester; Cambridge, Massachusetts; at two historically black colleges in the South; and in several European cities. In 1918, he endowed the establishment of the Eastman School of Music at the University of Rochester, and in 1921 a school of medicine and dentistry there.

In 1925, Eastman gave up his daily management of Kodak to become treasurer. He concentrated on philanthropic activities, to which he had already donated substantial sums. For example, he donated funds to establish the Eastman Dental Dispensary in 1916. He was one of the major philanthropists of his time, ranking only slightly behind Andrew Carnegie, John D. Rockefeller, and a few others, but did not seek publicity for his activities. He concentrated on institution-building and causes that could help people's health. From 1926 until his death, Eastman donated $22,050 per year to the American Eugenics Society.