The Tata family of India is among the 2007 recipients of the Andrew Carnegie Medal of Philanthropy, awarded every two years to families and individuals worldwide who have dedicated their private wealth to the public good, the Carnegie Corporation of New York announced.
The Tata family donates between 8 percent and 14 percent of the annual net profits from its holding company, Tata Sons Ltd., to a variety of causes, including science, medicine, social services, rural welfare, performing arts, education and the needs of children. Tata family philanthropy also has established pioneering institutions in the fields of social science, cancer research and treatment and tropical disease research.
Cornell trustee Ratan Tata '59, B.Arch. '62, is the company's chief executive officer. He also was recognized in March by Barron's magazine as one of the world's 30 most respected CEOs.
Other 2007 Carnegie Medal recipients are Eli Broad, the Heinz family and the Mellon family. The medals will be presented Oct. 17 at Carnegie Music Hall in Pittsburgh.
"The impact this year's laureates have had on the well-being of families around the world has taken philanthropy to new heights for commitment, daring and vision," said Vartan Gregorian, president of Carnegie Corporation and chair of the executive selection committee for the medals. "These philanthropists have used far more than their collective wealth to introduce change. They have put their conviction and courage to work embracing seemingly impossible challenges that many others have avoided."