The Foundation
Mr. Selby died in December of 1956. One year prior to his death, he set up the Charitable Trust with $3,000,000. Mr. Selby set up the trust because he wished to help young people. In his oil business, he encountered a great number of young men with untapped potential who were handicapped by lack of technical education. Not having children of their own, the Selbys were concerned about young people. They wanted to use their money to help the youth of future generations.
After Mr. Selby‘s death, Marie Selby became heavily involved with the activities of the Foundation and encouraged giving to a variety of charitable organizations. She often matched a grant from the Foundation with an equal gift from her own resources.
Marie Selby died in 1971 at the age of 86. She left her home and five acres for the development of a botanical garden, which later became part of the world-renowned Marie Selby Botanical Gardens (a completely separate and unrelated entity from the William G. and Marie Selby Foundation). Marie left $16,500,000 to the Foundation.
The William G. and Marie Selby Foundation has made a significant impact on the lives of thousands of young people and on the operation of hundreds of charitable organizations. Two significant contributions to the Foundation, one in 1955 and one in 1972, totaling $19,500,000 have made possible financial assistance to individuals and organizations in excess of $120,000,000. This insures a continuing contribution of nearly $3,000,000 a year for scholarships and grants to benefit the local community.
USF Class of 1982-83, Selby Scholars
The Selbys
1
Humanity
A virtue associated with basic ethics of altruism derived from the human condition.
The Selbys demonstrated that they cared for and about people in general, and especially for those known to them. They cared about equal opportunity for all. They believed that regular acts of kindness, no matter how great or small, do make a difference in the world.
2
Humility
The state of being humble. Humble can be used to describe what is ranked low by others, as in “persons of humble origins.” … When pride comes, then comes disgrace, but with humility comes wisdom.
The Selbys lived simply, quietly, modestly, and below their means. They did not seek recognition or fanfare in their lives or as a result of their charitable giving.
3
Social Responsibility
An ethical framework and suggests that an entity, be it an organization or individual, has an obligation to act for the benefit of society at large.
The Selbys believed in educating others to provide them with better opportunities to improve their lives and the lives of others. They believed in taking care of one’s community, especially Sarasota County and the surrounding counties.
4
Innovation
To make changes or to do something differently.
The Selbys looked for opportunities to bring about positive change in their community and were willing to invest in new methods, ideas, or products to bring about that positive change.
5
Stewardship
The act of caring for or improving with time.
The Foundation was established to reduce the Selbys’ substantial tax burden on their assets. The professionals they chose whether legal, accounting or banking, were individuals known to the Selbys and they maintained the ability to retain or terminate them according to the needs/goals of the Foundation. The Selbys expected reasonable fees for all services. The Foundation was to be administratively operated in accordance with established best practices and financial standards, and it was organized to maintain its independence and the ability to direct its future. The Foundation was clearly established to be maintained in perpetuity.