Wayne and Delores Weaver, the former owners of football’s Jacksonville Jaguars, have dissolved their family foundation and donated its $23.7-million in assets to the city’s Community Foundation, writes The Florida Times-Union.
The Weaver Family Foundation gift will be converted into a donor-advised fund administered by the Jacksonville grant maker, which will likely become the second-largest of Florida’s 26 community foundations as a result.
The couple sold the Jaguars for $760-million in January. Their family charity had awarded about $1-million a year in grants, focusing on northeast Florida groups supporting girls, women, and seniors.
Ms. Weaver, who served on the Community Foundation’s board for 10 years, said she and her husband wanted to remain philanthropically active in the area but also “take this time in our lives to enjoy our family, relax, and travel, not to worry about managing a private foundation.”