preview

Cathy Fink Case Study

Decent Essays

Cathy Fink- after spending more time than I probably should have, I was able to track-down the original source of her money. (I didn’t see anything about this in Rick Jacob’s RE record). It turns out that Cathy is the granddaughter of Theodore Baumritter, the co-founder of what today is known as Ethan Allen Interiors-the well-known furniture retailer. The Baumritter Corporation was established in 1932, later changing its name to Ethan Allen Inc. in 1969. In 1980, Interco Inc. bought the company for $150 million in a “private deal.” It’s not known if the acquisition was an “all cash” deal, or how “Ted” and his brother-in-law and co-founder Frank Ansell may have divided up the proceeds. In any case, Ted Baumritter died in 1994 just five weeks after his wife Florence. Cathy’s mother Aline “Bunny” Fink and Aunt Shamita “Sookie” Jacobs (Rick Jacobs’ mother), were Ted and Florence’s only children, and Cathy was one of only four grandchildren-so there were relatively few heirs. …show more content…

So a wealth estimate is a bit tough to determine. Larkspur Data estimates that Cathy is “worth” $2,000,000-$3,999,999-(this seems low to me). Wealth Indicators include real estate ($859,494), estimated income $200,000-$250,000, estimated liquid assets $250,000 - $499,999, “Power Spenders $10,000 - $49,999” and Savvy Investor. If you use the $2,000,000-$3,999,999 wealth estimate, Cathy could give $100,000-$199,999 over five years. Unfortunately, she has at least two DAF’s, so not much is known about her philanthropy, other than a few gifts in the $1,000-$9,999 to the Capital Area Food Bank, the National Gay and Lesbian Task Force, the Parkinson’s Action Network Foundation and gifts of unknown sizes to the Washington Area Women's

Get Access