Ashe Foundation for Defeat of AIDS will close; to give $1 million for endowment at New York Hospital-Cornell Medical Center

Jet, Feb 6, 1995

Jeanne Moutoussamy-Ashe, widow of tennis great Arthur Ashe, recently announced The Arthur Ashe Foundation for the Defeat of AIDS Inc. will cease operation and a $1 million endowment will be created at New York Hospital-Cornell Medical Center, where he was treated for AIDS.

Ms. Moutoussamy-Ashe said she reached this decision oly after the foundation had raised the $5 million that her husband had set out to raise when he established the foundation in late August 1992. In making the announcement, Ms. Moutoussamy-Ashe assured the effort to combat and defeat AIDS would be carried on by the endowment.

She said, "I don't see it as a closing down of the foundation so much as a transitional thing." She continued, "I wanted Arthur's idea to continue. Setting up an endowment seemed to be the best way to do it. Arthur set a goal and the goal was met."

Ashe established the foundation in August of 1992 after announcing he was HIV positive. He died of AIDS Feb. 6, 1993 (JET, March 1, 1993).

With the $1 million endowment from the foundation, the medical institution has committed to raising another $1 million which will be paid to the endowment as a matching contribution.

Ms. Moutoussamy-Ashe stated, "This endowment will be entrusted to an institution that will implement a program to support appropriate activities reflecting the full scope of the mission of The Arthur Ashe Foundation for the Defeat of AIDS as defined by Arthur."