Heiresses launch nonprofit for women's issues

updated 1:21 p.m. ET Nov. 14, 2007

NEW YORK - A group of heiresses that includes two sisters from the Hunt oil dynasty announced on Tuesday the creation of a nonprofit fund focused on women's issues that only accepts donations of $1 million or more.

Helen LaKelly Hunt and her sister, Swanee Hunt, a former U.S. ambassador to Austria, founded Women Moving Millions with a combined $10 million donation. The nonprofit will address issues of poverty, education, health care, human rights and violence issues in the U.S. and around the world.

The Hunt sisters are joined by Abby Disney, granddaughter of Roy Disney and grandniece of Walt Disney, as well as former Cisco executive Cate Muther; Margot Franssen, founder of the Body Shop in Canada; and Katie Grover, a former Wall Street executive.

The group's goal is to raise $150 million by April 2009. It will work with the Women's Funding Network to distribute the money.

The Hunt sisters are the youngest of 14 children of the Texas oil tycoon Haroldson Lafayette Hunt Jr., who was known as H.L. Hunt. He made his fortune in oil, starting in Arkansas in the 1920s before moving on to Texas. The Hunt Oil Co. is run today by his youngest son, Ray L. Hunt.

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