In 1895, Julius Rosenwald becomes a partner in Sears, Roebuck, and within a year is named Vice-President. He grows annual sales from $750,000 to $50 million. In 1908, Rosenwald is named President of Sears, Roebuck.
1912: Tuskegee Institute
After meeting Booker T. Washington, Julius Rosenwald joins the Board of Directors of the Tuskegee Institute in 1912, a position he would hold for the rest of his life. In 1924. A generation later, his son-in-law, Edgar Stern would also be elected to the Board.
1912: New Orleans Philanthropy Impact Grows
In 1912, Edgar Stern is elected to the New Orleans Parish School Board and the Charity Hospital Board. In 1915 he becomes President of the New Orleans Association of Commerce, and one year later is appointed Director of the New Orleans Public Belt Railroad. In 1926, Edgar Stern will run for and win Presidency of the New Orleans Cotton Exchange. At 27, he is the youngest person to hold this title.
1913: Rosenwald Schools Established
Inspired by his meeting with Booker T. Washington, Julius Rosenwald funds the construction of six schools for African-American students in rural Alabama in 1912, including the New Hope Rosenwald School in Fredonia, Alabama. Over the next two decades, more than 200 Rosenwald Schools were built throughout the United States.
1917: Creation of the Rosenwald Fund
Rosenwald establishes the Rosenwald Fund, “for the well-being of mankind,” with all funds being spent on philanthropic causes. Edgar Stern eventually becomes a trustee. By 1948, the fund would be exhausted. In total, $70 million funded public schools, colleges, universities, museums, Jewish charities, and African-American institutions.
1919: Sears Bailout
The economic impact of World War I drains Sears, Roebuck. Rosenwald pledges $21 million in personal cash, plus personal stocks and assets, to keep the company out of bankruptcy. Sears regained financial stability in three years.
1921: Rosenwald-Stern Marriage
Julius' Rosenwald's daughter Edith marries Edgar Stern.
1927: Distinguished Achievement in Race Relations and President of Museum of Science and Industry
Julius Rosenwald receives a special gold medal from the William E. Harmon Awards for Distinguished Achievement in Race Relations for his contributions to the education of African-American youth. He also becomes the President of the Museum of Science and Industry in Chicago.
1929: Construction of Mixed Use Housing
The Michigan Boulevard Garden Apartments, one of the first mixed-use housing developments in America, is built in Chicago, using a $2.7 million investment from Rosenwald. Free Hills Rosenwald School is built in Free Hill, Tennessee.
1929: US Chamber of Commerce
Edgar Stern joins the Board of Directors of the United States Chamber of Commerce.
1929: Petitioning the President
On Edgar Stern's recommendation, the Rosenwald Fund writes to U.S. President Herbert Hoover to suggest that the welfare of African-Americans, particularly regarding unemployment, "be included in the matters to which the President and his advisors are giving attention."
1930: Critical Role in Establishing Dillard University
Dillard University is chartered by historically Black colleges Straight University and Union Normal School/New Orleans University. Edgar Stern serves on the Board of Trustees. Main campus construction will begin in 1934 and classes will begin a year later. In subsequent years, the school year will traditionally end in a deficit, which Stern will help cover from his personal funds. Additionally, the Stern Family Fund makes possible the construction of the school's auditorium and gymnasium, the Stern Science Hall, assorted building improvements, and a $3 million endowment, which is later increased to $4.5 million.
1931: Flint-Goodridge Hospital
Flint-Goodridge Hospital in New Orleans (formerly the Phyllis Wheatley Sanitarium and Training School for Negro Nurses) comes under the purview of the newly formed Dillard University. The 80-bed Flint-Goodridge Hospital will open in 1932. The Hospital will provide unprecedented opportunities for African-Americans to become medical providers.
1936: Stern Fund Established
Edith Rosenwald Stern and Edgar Stern establish the Stern Fund, with the stipulation that the fund would go out of existence in 50 years. The Stern Fund closes down in 1986, having disbursed $25 million.
1948: The Founding of WDSU-TV in Nola
Edgar Stern and his son, Edgar B. Stern, Jr., found WDSU-TV, Channel 6 in New Orleans. It is the first commercial station in the Gulf Coast area.
1948: Royal Street Corporation Founded
The Sterns diversify WDSU Broadcasting Services by creating the Royal Street Corporation. RSC goes on to invest in luxury hotels and resorts, charter airplane services, brewing companies, and restaurants.
1960: Construction of the Royal Orleans Begins
Edgar B. Stern, Jr. develops the Royal Orleans hotel on the site of the former St. Louis Hotel in New Orleans, commencing a legacy of hospitality and "experience" investing. In 2008, the Royal Orleans would become the 345-room Omni Royal Orleans.
1966: Develops One of Country's First Shopping Malls
Edgar B. Stern, Jr. develops Oakland Shopping Center in the New Orleans metropolitan area. It is the one of the first shopping malls in the country to feature air conditioning.
1968: Park City Resort Established.
Edgar B. Stern, Jr. moves to Aspen, Colorado. He purchases Treasure Mountains Resort and transforms it into Park City Resort. He also develops the Starwood residential subdivision and the Red Mountain Ranch.
1969: The Royal Sonesta New Orleans Developed
Edgar B. Stern, Jr. develops the Royal Sonesta New Orleans hotel on Bourbon Street.
1972: Hotel Development Expands to San Francisco
Edgar B. Stern, Jr. develops the Stanford Court Hotel at 905 California Street in San Francisco.
1978: Deer Valley Land Purchased
Edgar B. Stern, Jr. sells the Park City Resort and acquires 1,700 acres that, in 1981, will become the Deer Valley Resort.
1977: Sterns Named "Leading Philanthropists" of Nola
The New Orleans States-Item names Edith and Edgar Stern New Orleans' leading philanthropists of the past hundred years, further noting, “every city should have its own Sterns.”
1998: Stern Home Converted to Public Garden and Museum
The Discovery Garden, a one-half acre educational and interactive garden for children of all ages, opens in the garden of Longue Vue, the former home of Edith and Edgar Stern.
2012: Royal Street Corporation Founds RSIIC
Royal Street Corporation creates the Royal Street Investment & Innovation Center, an angel and venture capital fund with a portfolio of over 20 companies.
2015: A Skiing Legacy Cemented
Edgar B. Stern, Jr. is inducted posthumously into the U.S. Ski and Snowboard Hall of Fame Museum.
2015: Royal Street Ventures Founded
Royal Street Ventures, an investment fund focused on entrepreneurship, is created out of the Royal Street Innovation and Investment Corporation. The company is headquartered in Park City, Utah.
2016: Royal Street Ventures Expands Into Kansas City
Royal Street Ventures launches a $25 million fund in Kansas City, focused on early-stage growth companies.