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In an unusual union of philanthropic foundations, the Rockefeller Brothers Fund acquired the assets of the smaller Charles E. Culpeper Foundation last week, the organizations have announced.
New program guidelines for the combined foundation will not be available until early next year, but officials of both foundations expressed an interest in continuing their support for at least some higher-education programs.
The unified entity, known as the Rockefeller Brothers Fund Inc., manages investments with a current market value of about $650million. Four trustees of the Culpeper Foundation, which supports projects in health, education, and arts and culture, have...