Estate gift from Paramount philanthropist is largest ever for Paralyzed Veterans
PARAMOUNT (CNS) – The estate of Jeffrey M. Carlton, who founded Paramount-based steel processor Press Forge, gave or pledged more than $3 million to Paralyzed Veterans of America, and the amount could swell by tens of millions of dollars in coming years, it was announced today.
The gift is the largest in the group’s 67-year history.
“It is estimated that by the end of the next decade Paralyzed Veterans may receive $50 million from the Jeffrey Carlton Trust/Foundation,” according to a statement from the veterans group.
“This enormous financial gift will help us to continue our mission of ensuring that veterans of every generation get the healthcare and benefits they’ve earned through service, and are able to live full and productive lives,” said Bill Lawson, president of the congressionally chartered, Washington, D.C.-based Paralyzed Veterans of America.
In his will, Carlton, who died Sept. 24, 2012, at age 61, set up his estate to evolve into a foundation to carrying on his philanthropic work.
A recent $53 million gift to the Hoag Hospital Foundation — also its largest gift ever — will fund the creation of the Jeffrey M. Carlton Heart & Vascular Institute in Newport Beach.
Press Forge, founded in 1978, is one of the largest U.S. suppliers of conversion forging services to commercial and military, aerospace, nuclear, oil and gas exploration and industrial markets.