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New Canaan Man Named No. 3 Philanthropist In The Nation

New Canaan's Ted Stanley was named the third-most philanthropic person in the U.S. in 2014.
New Canaan's Ted Stanley was named the third-most philanthropic person in the U.S. in 2014. Photo Credit: Johns Hopkins University

NEW CANAAN, Conn. -- New Canaan resident and Norwalk businessman Ted Stanley was named the third-most philanthropic man in the U.S. by the Chronicle of Philanthropy on Tuesday.

Stanley, 83, is the founder of Norwalk-based MBI, Inc., a company that develops and markets collectible items, the Chronicle of Philanthropy reported.

Stanley pledged an estimated $652.4 million to several not-for-profits, but the majority of his efforts were directed at Broad Institute in Cambridge, Mass. The $650 million pledge is to help researchers study the genetics of psychiatric disorders. So far, Stanley has made good on $45 million of that pledge and plans to make similar donations annually for the rest of his life, the Chronicle of Philanthropy said.

The remaining $2.4 million went to organizations such as A Glimmer of Hope, a charity that works to fight poverty in Ethiopia; Boys & Girls Clubs of America; the Carter Center, a public-policy institute; and the Jampolsky Outreach Foundation.

The top philanthropists on the list were Bill and Melinda Gates, who donated more than $1.5 billion to charity. Second was the late Ralph Wilson, who donated $1 billion. In all, the top 50 philanthropists in the nation gave away $9.8 billion to charitable organizations in 2014, the Chronicle of Philanthropy reported.

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