Caroline Bamberger Frank Fuld (

nickname A nickname is a substitute for the proper name of a familiar person, place or thing. Commonly used to express affection, a form of endearment, and sometimes amusement, it can also be used to express defamation of character. As a concept, it is ...

, "Carrie"; March 16, 1864 – July 18, 1944) was an American businesswoman and philanthropist. She and her brother

Louis Bamberger Louis Bamberger (15 May 1855 – 11 March 1944) was the leading citizen of Newark, New Jersey, from the early 1900s until his death in 1944. He and his sister Caroline Bamberger Fuld co-founded the Institute for Advanced Study in Princeton, Ne ...

co-founded the

Institute for Advanced Study The Institute for Advanced Study (IAS), located in Princeton, New Jersey, in the United States, is an independent center for theoretical research and intellectual inquiry. It has served as the academic home of internationally preeminent schola ...

in Princeton, New Jersey.

Biography

Caroline ("Carrie") Bamberger grew up in Baltimore, the fifth of six children born to Elkan Bamberger, who had emigrated from Bavaria in 1840, and Theresa (Hutzler) Bamberger, who was heir to a large Baltimore department store. Her siblings were Clara "Lavinia" Bamberger; Rosa Bamberger;

; Julius Bamberger; Pauline Bamberger; and Julia Bamberger. Fuld moved with her brother Louis to Philadelphia in 1883, and the two of them, with business partners Louis Meyer Frank and

Felix Fuld Felix Fuld (19 July 1868 – 20 January 1929) built one of America's well-known department stores – L. Bamberger & Company with his partner, Louis Bamberger. He was an early 20th century philanthropist contributing to many local, regional, and ...

, started the business that became L. Bamberger and Co. The four partners all worked in the store and developed new methods of retail advertising and selling. Fuld married Louis Frank in 1883, a marriage that lasted until the latter's death in 1910. In 1913, she married her other business partner, Felix Fuld, outliving also his death in 1929. Neither marriage produced children. Bamberger and Fuld sold L. Bamberger and Co. to R. H. Macy and Co. in June 1929 (for an amount estimated between $25 – 50 million dollars, paid entirely in cash), before the

stock market crash A stock market crash is a sudden dramatic decline of stock prices across a major cross-section of a stock market, resulting in a significant loss of paper wealth. Crashes are driven by panic selling and underlying economic factors. They often foll ...

. After the sale, they shared $1 million of the proceeds with 235 long-time employees. Subsequently, Fuld devoted her energies to philanthropy. With her husband, and continuing after his death, she contributed to Jewish charities, including Newark's Beth Israel Hospital, the Jewish Relief Committee, and Hadassah. In 1931, she was elected national director of the

National Council of Jewish Women The National Council of Jewish Women (NCJW) is a 501(c)(3) tax exempt organization. Founded in 1893, NCJW is self-described as the oldest Jewish women’s grassroots organization in the United States, now comprised by over 180,000 members. As of ...

. Most remembered, however, is the decision in 1929 by Fuld and her brother to seek the advice of

Abraham Flexner Abraham Flexner (November 13, 1866 – September 21, 1959) was an American educator, best known for his role in the 20th century reform of medical and higher education in the United States and Canada. After founding and directing a college-prep ...

, and subsequently to support, and endow financially, his vision for what became the

in Princeton. Fuld and Bamberger contributed $5 million in 1930 for its initial endowment, and approximately $18 million over time. Fuld was vice-president of the nascent Institute until 1933, and thereafter was a life trustee.

References

External links

* Joan N. Burstyn
''Past and Promise: Lives of New Jersey Women''
The Women's project of New Jersey (1997), pp. 142–143.

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The New York Times ''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid d ...

'', July 19, 1944. {{DEFAULTSORT:Fuld, Caroline Bamberger 1864 births 1944 deaths Institute for Advanced Study people American people of German-Jewish descent American women in business Jewish American philanthropists National Council of Jewish Women Hutzler family