Arts Groups Could Lose a Key Corporate Supporter
January 5, 2007
The breakup of the Altria Group, which is the parent company of Kraft Foods, Philip Morris International, and Philip Morris USA, could lead to sharply reduced financial support for cultural organizations, reports The Art Newspaper.
Altria’s board of directors plans to spin off its Kraft Foods division to protect it from litigation against Philip Morris. The breakup, which begins this month, would cause contributions policies to change.
Jennifer Goodale, who oversees corporate gifts at Altria, sent grant recipients a letter telling them that their 2007 grants might be the last ones they receive from the company, reports the newspaper.
