It is with great sadness that we share the news of the passing of Bernard (Bernie) Marcus, a supporter of The Fund for American Studies (TFAS), founder of Home Depot and chairman of The Marcus Foundation. He passed away on November 4, 2024, at the age of 95 in Boca Raton, Florida.
An extraordinary entrepreneur and philanthropist, Bernie co-founded The Home Depot in 1979, serving as its first CEO and chairman until his retirement in 2002. Under his leadership, The Home Depot became the world’s largest home improvement retailer.
The core values of The Home Depot – taking care of its people, giving back to its communities, and doing the right thing – also became the guiding principles of The Marcus Foundation, which Bernie founded in 1989. His entrepreneurial spirit shaped his unique brand of hands-on philanthropy.
Since its founding, The Marcus Foundation has granted more than $2.7 billion through 3,500+ grants. Their contributions support a wide range of causes, including medical research, Jewish causes, free enterprise, veteran initiatives and support throughout the Atlanta community.
I want to extend my heartfelt gratitude for your generous donation, which made it possible for me to be a part of this incredible program. Your support has had a profound impact on my educational journey and career aspirations.” – Brent Kang ’24
The Marcus Foundation has supported TFAS student scholarships and academic programs for nearly seven years, contributing to both high school and college programs. Bernie was a strong believer in free enterprise and understood the importance of supporting organizations that teach young people to appreciate the connection between economic freedom and prosperity.
Brent Kang ’24 reflected on the impact of the generous donation from the Marcus Foundation, expressing his heartfelt gratitude for the scholarship that enabled him to attend the TFAS Public Policy + Economics program track in the summer of 2024 and pursue his educational and career goals.
“I want to extend my heartfelt gratitude for your generous donation, which made it possible for me to be a part of this incredible program,” Kang said. “Your support has had a profound impact on my educational journey and career aspirations.”
In 2019, The Marcus Foundation sponsored the inaugural class of TFAS Leadership Scholars, a group of exceptional students selected to receive scholarships to attend the TFAS summer programs in Washington, D.C. These students also participated in additional educational training and TFAS programs during the same year, further developing their leadership skills and deepening their understanding of free-market principles and public service.
Emily Schroen ’19 reflected on the impact of the generous scholarship that enabled her to attend the TFAS program.
“I am beyond grateful,” Schroen said. “A whole world has opened to me, and this has been one of the most, if not the most, impactful experiences of my life. I’ve loved living and learning in such a passionate environment and I’ve learned so much about economics.”
As part of the program, students also attended two three-day retreats, one in Washington, D.C., and the other in Atlanta, Georgia, both sponsored by The Marcus Foundation. Building on lessons from the TFAS classroom, the retreats provided an opportunity to engage in in-depth discussions on public policy, individual liberty and leadership development.
Lydia Kotowski ’19 reflected on the impact of these retreats and how they enhanced her TFAS experience.
“My biggest takeaway is a reaffirmed belief in decisions I made over the summer and the extent to which I am connected to the other scholars,” Kotowski said. “I also have a much better appreciation for the TFAS alumni network.”
TFAS President Roger Ream ’76 attended the service for Bernie Marcus at the Temple in Atlanta. He noted that Bernie’s impact on the world was reflected by the turnout of leaders from Georgia and nationally and the words expressed in the eulogies. He added, “Bernie was an entrepreneur in building a remarkably successful business and in the discerning way he used his wealth to empower people and create a better world.”
TFAS staff and board are keeping Bernie’s family in our thoughts during this difficult time.