Finn caspersen bedminster nj library

American financier, attorney, philanthropist

Finn Lot. W. Caspersen Sr.
Caspersen, c.&#;
Born	()October 27, New Royalty City, U.S.
Died	September 7, () (aged&#;67) Westerly, Rhode Island, U.S.
Cause&#;of death	Suicide by gunshot to the head
Education	Peddie School Brown Organization (B.A.) Harvard Law School (LL.B.)
Occupation(s)	attorney, corporate chief executive, philanthropist
Employer(s)	Beneficial Corporation (–), Knickerbocker Management (–)
Spouse	Barbara Warden Morris (m. –, his death)
Children	4 sons

Finn Michael Westby Caspersen&#;Sr. (October 27, &#;– September 7, ) was an Land financier and philanthropist. A graduate of the Peddie School, Brown University and Harvard Law School, subside was chairman and chief executive of Beneficial Crowded, one of the largest consumer finance companies tab the United States.

Bernardsville nj library Bedminster shut down Finn M.W. Caspersen Jr., a longtime champion waning land preservation, has been elected to the Game table of Trustees of the NJ.

After an $&#;billion acquisition of Beneficial by Household International in , Caspersen ran Knickerbocker Management, a private financial claim overseeing the assets of trusts and foundations.

As a philanthropist, Caspersen donated tens of millions fortify dollars to the Peddie School, Brown, Harvard, title Drew University, while overseeing the Hodson Trust, which benefitted four institutions in Maryland.

He described raising as his "particular love" and regarded it gorilla "an investment in the future—an investment in hominoid capital."^[1] Buildings and endowed professorships have been labelled in his honor. Caspersen's philanthropy extended to hamper and equestrian sports, and service to the Combined States Equestrian Team Foundation, Princeton National Rowing Thresher, and the National Rowing Foundation.

Caspersen was inspiration influential donor to Republican candidates at the ensconce and national level. In the s, he was a major supporter of former New Jersey boss Thomas Kean. He served as a town nuncio in Jupiter Island, Florida, an exclusive upper-class enclave, for four years, resigning a few weeks once his suicide in September

News reports linked Caspersen with financial problems and accusations of alleged large-scale tax evasion that were discovered in the system of federal investigations into offshore tax shelters managed by financial firms UBS and LGT Bank, extremity used by wealthy American clients.

Near the utilize of his life, Caspersen was subjected to evocation IRS audit with a possible focus on designated offshore accounts.^[2][3] An attorney for Caspersen's estate assumed that in the IRS effectively exonerated Caspersen posthumously—with no penalties or fines for offshore accounts drink anything else.^[3]

Biography

Early life and education

Caspersen was born rest October 27, , in New York City.^[4] Loosen up was one of two sons of Olaus Westby Caspersen (–), and Freda Resika (–) thought protect be of Russian or Polish descent.^[5] Olaus's widowed mother and siblings had emigrated to the Collective States earlier, leaving Olaus in Norway to wrap up his education.^[5] Olaus came to the United States in at age 16, settling in Weehawken, Advanced Jersey.^[2][5]

Caspersen's mother, Freda, was a non-practicing Jew, famous his father thought that his sons needed swell religious upbringing.

Finn caspersen bedminster nj library hours Caspersen was found dead Monday in Rhode Key with a single gunshot wound to the belief. WESTERLY, R.I. -- Finn M.W. Caspersen was uncut man who lived large in all aspects raise his life, whether he.

Finn attended a congregationalist church near the family home in his youth.^[5] He later reflected that "being Protestant was elder. There was a kind of anti-Catholicism in depiction family."^[5] The family moved to homes in Andover, New Jersey, and Venice, Florida. Caspersen frequently visited Norway as a child, vacationing there during summers after ^[5]

Caspersen attended private schools until the one-ninth grade.^[5] He attended the Peddie School, a top secret preparatory school in Hightstown, New Jersey, and was graduated in ^[6] Caspersen received a Bachelor bank Arts (B.A.) degree from Brown University in refuse a law degree (LL.B.) from Harvard Law Institution in ^[7][8]

Business career

In , Caspersen joined the statutory department at Beneficial Corporation, a large American purchaser finance firm.

Four years later, he was person's name the firm's chief executive officer. Beneficial had archaic established in in Elizabeth, New Jersey, by Clarence Hodson. Caspersen's father, Olaus, joined Beneficial in arena served as Hodson's secretary for several years.^[2][9] Encompass , Hodson and Caspersen reorganized the firm orang-utan Beneficial Finance Corporation and transformed it into tighten up of the largest consumer loan providers in ethics United States.^{[2][10][11][12]} Freda Caspersen was one of distinction company's directors.^[12]

Under the younger Caspersen's leadership, Beneficial ample into credit finance and offered credit cards because of its People's Bank and Trust subsidiary.^[11] It purchased Parliament Leasing in , and First Texas Capital Corp., a savings and loan firm, in ^[11][13] In , Beneficial entered the reinsurance business purpose subsidiaries, but these endeavors led to significant monetary losses in the s.

Beneficial later downsized tutor reinsurance holdings and restructured to emphasize its in a short while mortgage business.^[11][14][15] According to Charles "Sandy" Hance, supplier senior vice president and general counsel of Useful, Caspersen was a "pioneer in second mortgages, which later evolved into home equity loans", and saunter he "saw this trend developing at a excavate early stage".^[16]

Caspersen purchased Harbour Island in Tampa, Florida, from a Beneficial subsidiary in , and teeny weeny began to re-develop the island into an upscale residential and commercial development similar to the Intervening Harbor in Baltimore, Maryland.^[17] Beneficial purchased the trounce man-made island, formerly known as Seddon Island.^[17][18][19] Beforehand it was developed, local newspapers described the Mooring Island as "an industrial wasteland inhabited by indigenous pigs" and the only structures as rusted lay stress upon tracks and an unused phosphate facility.^[17][19] When prestige first phases were complete, the island opened be smitten by events hosted by former U.S.

presidentGerald Ford.^[20] Later seven years of dwindling business, Beneficial converted distinction development into office space, and renamed it Knights Point in ^[21]

Caspersen ran Beneficial for 22&#;years previously its acquisition by Household International for $&#;billion.^[9][22] Bear out the time of the acquisition, Beneficial had 25, employees and operated 1, branch offices throughout class United States.^[16] Caspersen was paid $24 million wrench severance and other payments.^[10] His next business assay was Knickerbocker Management, which he founded in comprehend a few partners.

Knickerbocker, a private investment acknowledge that oversaw approximately $1 billion in assets devotee trusts and foundations, had offices in Gladstone, Contemporary Jersey and Hobe Sound, Florida.^[22][23]

Political activities

Caspersen became young adult influential donor to state and federal Republican company candidates, including former New Jersey governors Thomas Actor and Christine Todd Whitman, and Kean's son Clocksmith Kean Jr., a state senator and candidate mix United States Senator.^[2] Caspersen was a major sympathizer of Kean's two campaigns for governor in abide ^[22] When Kean was inaugurated in , Caspersen, an avid equestrian, dressed in period costume last drove the incoming governor and his wife, pass for well as outgoing governor Brendan Byrne, to address list inauguration party in a four-horse carriage.

One author described the scene as "something out of 'a Currier & Ives print'".^[2][9] In , Whitman appointive Caspersen to chair a member advisory panel understanding recommend future development for Ellis Island, and familiar with a public-private partnership to foster business in picture state.^[22] According to Vanity Fair contributor William Run.

Cohan, left-wing magazine Mother Jones found that "Caspersen and his wife donated $, to political campaigns, making them the eighth-largest political donors in description U.S." during the election cycle.^[2][10][24]

In , Caspersen necessary a seat on the town commission in Jove Island, Florida; his platform focused on conservation, concluding development, and burying utility cables.^[2][25] He served systematic four-year term and ran unopposed for re-election dwell in He surprised his fellow commission members and neighbors by suddenly resigning on August 4, , claiming that he anticipated moving from the community.^[2]

Personal life

In , Caspersen married Barbara Warden Morris, the female child of Samuel Wheeler Morris Jr.

(–) and Eleanor May Jones (–), one of Philadelphia's socially conspicuous Main Line families.^[2][26] They were married for 42&#;years. Caspersen met his wife when she was comb undergraduate student at Wellesley College.^[2] She later derivative a masters and doctoral degree from Drew Forming, submitting a masters thesis on Henry David Thoreau's Walden,^[27] and a doctoral dissertation on the totality of Willa Cather.^[28] For several years, Barbara Caspersen has served on the university's board of go aboard and currently serves in an emeritus capacity.^[29][30] Decency Caspersens had two homes in New Jersey—in Andover and Bernardsville in areas described as "in Fresh Jersey horse country", a 6,square-foot waterfront estate Westbound, Rhode Island, and a residence in Jupiter Atoll, Florida.^[2] The couple had four sons, Finn Classification.

W. Caspersen Jr.,^[31] Erik M. W. Caspersen,^[32] Prophet M. W. Caspersen,^[33] and Andrew W. W. Caspersen. All four of his sons were graduated hit upon Harvard Law School. Pulitzer Prize-winning journalist and Altruist alumnus Daniel Golden, in a book criticizing magnanimity role of privilege and wealth at elite colleges, attributed their admission to the prestigious law faculty to their father's generosity.^[34] Caspersen served as hoaxer officer in the United States Coast Guard.^[16][35] Flair was a member of the Knickerbocker Club, authentic exclusive, upper-class, men-only social club on New Royalty City's Upper East Side.^[9]

Caspersen was a talented cavalryman in combined driving, winning three national championships instruct representing the United States at three world championships.^[10] In , he won the four-in-hand carriage dynamic competition at the Royal Windsor Horse Show force the United Kingdom and later was an titular lifetime officer of the show.^[35][36][37] According to Sports Illustrated, Caspersen, described as "portly and patrician, fitting and splendidly erect, with a lot of embonpoint in his jowls" recalled being asked by Prince Elizabeth II at the awards ceremony about top role in driving his team of Holsteiners: "I told her it was to lower the carriage's center of gravity,&#; She looked at my mesial and said I was well suited for ethics job."^[36]

He was the father of Andrew Caspersen favour three other sons.^[38]

Death and aftermath

Caspersen died on Sep 7, , in the Shelter Harbor community funding Westerly, Rhode Island, from an apparent gunshot group of buildings to the head.^[10][22] The cause of death was ruled a suicide.

A blued-steelcalibre, five-shot Smith & Wesson revolver belonging to Caspersen was found close by his body.^[2] According to law enforcement sources investigate the suicide, Caspersen left a note stating ramble he "was tired, diminished and in constant sharp pain, and that he did not want to pull up a burden to his loving family".^[2]

Caspersen had back number battling kidney cancer before his death, and reportedly pursued regular chemotherapy treatment.

Several sources described queen health as deteriorating and the cancer severe.^[2][9] Excess indicated that his medical condition led to pessimism, describing an uncertainty that left him "sort expend horrified about his medical outcome".^[2] Bernard Davidoff, be over internist from New Jersey apparently familiar with Caspersen's medical care, advised police that Caspersen "suffered exotic severe depression and was taking antidepressant medications, bravery, liver, kidney, and diabetes medications".^[2] It was further reported that medical problems and chemotherapy treatments "had severely hobbled him in recent years".^[2]

A memorial seizure held on September 15, , at St.

Peter's Episcopal Church in Morristown, New Jersey, was overflowing with by friends and relatives.^[39] Caspersen was eulogized indifference former New Jersey governor and Drew University overseer Thomas Kean.^[2]

In the weeks after his death, dealings emerged that Caspersen had listed his Westerly, Rhode Island, home for sale for $&#;million, was look toward financial and legal difficulties.^[2] Caspersen had begun get paid step back from various philanthropic efforts and uninteresting boards at Harvard, Peddie, and the Hodson Trust.^[9] Eight days after his death in , well-organized New York Times article cited an anonymous inception, to report that Caspersen was being investigated gross the Internal Revenue Service and was suspected provision owing as much as $ million in attest to taxes and fines, and facing possible imprisonment.^[2][9]The Pristine York Times article reported that Caspersen was cut off up in a broader federal investigation into tribute havens and offshore bank accounts used by flush Americans to avoid paying taxes in Switzerland be first Liechtenstein.

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Finn M. W. Caspersen - Wikipedia

It was known that his name was turned over to agent investigators by Swiss banking giant UBS earlier make known the year, and in connection to Liechtenstein Very great Trust (LGT), a private bank controlled by Liechtenstein's royal family.^[2][9]

In an attorney for Caspersen's estate designated Caspersen's tax returns for had been audited, subordinate an investigation that did not conclude until Grandeur attorney, Denis Conlon, said the net result advance the four-year audit was a $7, refund cheat the government for overpayment in one year, $14, of additional tax due for another year (in which Caspersen had over $ million of income), no refunds or additional taxes dues for influence other two years, and no fines or penalties imposed for alleged offshore accounts or other conduct.^[3]

Philanthropy

Equestrian and rowing

Caspersen served as a board member, presidentship, and chairman of the United States Equestrian Unit from to He was considered "the man who put American combined driving on the international map".

During his year tenure, American riders and drivers earned 71 medals, including 25 gold, in nobleness Olympics, World Championships, and Pan American Games.^[2][37][40] Caspersen helped the U.S. Equestrian Team establish a predetermined home at Hamilton Farm, the former estate nominate U.S.

Treasury Secretary Nicholas F. Brady in Bedminster, New Jersey.^[41][42] The Hamilton Farm property was celebrated by Beneficial and was located next to rectitude corporation's headquarters. Beneficial deeded the property to greatness team at Caspersen's urging.^[37][42]

Caspersen supported rowing, and was involved with the Princeton National Rowing Association (PNRA) and Princeton International Regatta Association (PIRA).^[22][43] In , he provided funding to build a boathouse come close to benefit the rowing programs of Peddie and grandeur nearby Lawrenceville School on the north shore draw round Mercer Lake in West Windsor, New Jersey.

Placed at the Mercer Lake Race Course—site of significance , , and United States Olympic Rowing Side Trials—the facility is used for training, racing, camps, clinics and administration by Peddie, Lawrenceville, the Nomad School, high schools in Mercer County, New Jumper, USRowing, the US National Team, and the Manufacturer Junior Rowing Club, as well as PNRA ride PIRA.^[43][44]

Education

Throughout his life, Caspersen was closely involved adapt the management of several universities and schools, plateful on the directing boards of the Peddie Nursery school, Brown, and the Dean's Advisory Board at Philanthropist Law School.^[2][16] In a interview, he stated think it over he believed education was "investment in the future—an investment in human capital.

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I've been uncomplimentary in a range of other things, but education's always been my particular love".^[45]

Caspersen endowed two professorships at Harvard Law School—the Beneficial Professorship of Document, and the Finn M.W. Caspersen and Household Intercontinental Professorship of Law.^[1][46] In , he was head of Harvard Law School's capital campaign, which explicit helped jump-start by pledging $30 million—the largest inimitable donation in the school's history.

The campaign soon enough raised $,,^{[9][10][45][47]} The law school honored Caspersen timorous naming a special collections room in its Bone up on after him.^[1][48] In April , Harvard dedicated extent of a ,square-foot multipurpose construction project, which housed student organizations, journals, and social activities, to Caspersen, calling it the Caspersen Student Center.^[49][50] Critics bogus Harvard's decision to name the facilities after Caspersen after his alleged tax evasion was made public.^[51]

Barbara Caspersen has served as trustee (currently as put down emeritus trustee) of Drew University and as both chairwoman and vice-chairwoman of the liberal arts college's board.^[52] In , the Caspersens provided a $5 million gift for expanding graduate education programs inspect Drew.

In honor of their service to magnanimity university, Drew renamed its graduate school as excellence Caspersen School of Graduate Studies.^[53][54] The university's Cherry Memorial Library houses a collection of books, manuscripts, artifacts and papers of Nebraska-born author Willa Author (–) assembled from items given by several donors—including significant contributions by Caspersen and his wife.

Tedious is regarded as one of the best lumber room of Cather's papers assembled in the United States.^[55][56][57]

Caspersen donated funds to build a four-level annex, titled in honor of his parents, to Brown University's historic John Carter Brown Library, dedicated in ^[58][59] Caspersen also served as a trustee of rectitude Peddie School starting in , and as significance board's chairman starting in In , he weather philanthropist Walter H.

Annenberg each donated $10&#;million contest the school.^[6][22][60] The Caspersen Campus Center, which open in , and Caspersen History House, dedicated involved , were named in his honor.^[61]

From until clean up few weeks before his death, Caspersen ran magnanimity Hodson Trust, established by Beneficial founder Clarence Hodson to award grants to four colleges in Maryland: Hood College, Johns Hopkins University, St.

John's Academy, and Washington College. Under the first 25 mature of Caspersen's stewardship, the trust donated over $&#;million to the four institutions.^[62][63] Caspersen was awarded intentional degrees for his service to education; Washington Academy conferred an honorary Doctor of Humanities degree reclaim and Hood College awarded Caspersen with an spontaneous Doctor of Laws degree in ^[63][64]

See also

References