James Cash Penney

James Cash Penney Jr. (September 16, 1875 – February 12, 1971) was an American businessman and entrepreneur who founded the JCPenney stores in 1902.[1]

Early life and education

Penney was born on September 16, 1875, on a farm outside of Hamilton, Missouri, the seventh of twelve children, only six of whom lived to adulthood, born to James Cash Penney and Mary Frances (born Paxton) Penney. Penney's father was a Primitive Baptist preacher and farmer whose strict discipline included making his son pay for his own clothing once he reached eight years of age.

After graduation from Hamilton High School, Penney intended to attend college with hopes of becoming a lawyer. His father's untimely death, however, forced a change in plans, and Penney was forced to work as a store clerk to help support the family. Penney's tuberculosis caused him to venture west to Longmont, Colorado.[2]

J. C. Penney stores

In 1898, Penney began working for a small chain of stores in the

Affiliations

Freemason

Penney was a Freemason most of his adult life, initiated into Wasatch Lodge No. 1 Free and Accepted Masons of Utah, on April 18, 1911.[19][20] A member of both the Scottish and York Rites, Penney was coroneted a 33rd Degree on October 16, 1945, and received the Gold Distinguished Service Award by the General Grand Chapter, Royal Arch Masons, in Kansas City, Missouri, in 1958. He typically wore a large ring showing his Masonic degree.

Professional fraternities

Penney was a member of two professional collegiate fraternities: Alpha Gamma Rho for agriculture and Alpha Kappa Psi for business.

University of Miami

Penney was involved with the founding of the University of Miami, and served on its Board of Trustees from 1926 to 1930.[21]

40Plus

At the end of the Great Depression in 1939, Penney teamed with Thomas J. Watson, president and founder of IBM, Arthur Godfrey, the radio and TV personality; and Norman Vincent Peale, a minister, inspirational speaker, and author of The Power of Positive Thinking, to help Henry Simler, an executive with Remington Rand [22] form the first board of 40Plus, an organization that helps unemployed managers and executives.

Awards and philanthropy

In 1953, the Springfield, Missouri Chamber of Commerce presented Penney with a "Ozark Hillbilly Medallion" and a certificate proclaiming him a "hillbilly of the Ozarks."[23]

Penney founded the James C. Penney Foundation in 1954. The foundation was restructured in 1999, with half the proceeds going to the Penney Family Fund, which is not affiliated with J. C. Penney Co., Inc., or its corporate giving program. The Penney Family Fund supports national organizations and state-based ones in Georgia, North Carolina, Arizona, and New Mexico that work to advance racial and environmental justice.

In 1960, Penney teamed up with the University of Missouri to establish the Penney-Missouri Awards to recognize excellence in Women's Page journalism, hoping to improve the sections where his stores most often advertised.[24]

birth name	James Cash Penney Jr.
birth date	September 16, 1875
birth place	Hamilton, Missouri, U.S.
death date	February 12, 1971
death place	New York City, U.S.
resting place	Woodlawn Cemetery (The Bronx, New York City)
occupation	Businessman
years active	1898–1971
known for	Establishing JCPenney department stores in 1902

Early life and education

J. C. Penney stores

Personal life

Death

Affiliations

Freemason

Professional fraternities

University of Miami

40Plus

Awards and philanthropy

Commemoration

Further reading

External links

References