Founded in September YC110 by Commander Edward Adams, son of Wilhuff and Hana Adams, the Mantel Global Industries Dependants Benevolent Fund was established to provide educational and financial support to those dependants and orphans of the staff of the Ishukone research group Mantel Global Industries, headquartered on Itamo IV.
The Malkalen Incident resulted in the deaths of several hundred thousand people on board the Ishukone Headquarters orbiting Malkalen V, including the majority of the Caldari and the Gallente delegations present. Amongst their number was the entire research and development team as well as the executive board of the Mantel Global Industries, having been invited as part of the Caldari economic delegation.
The loss of so many talented individuals that composed over seventy-five percent of the employees of the company was a crippling blow from which MGI never really recovered from, despite the availability of capital injection from Hyasyoda. Ishukone officials overseeing subsidiaries affected by the events at Malkalen undertook an executive decision to formally dissolve the company, redirecting its assets and surviving personnel elsewhere into a new firm as part of a phoenix redevelopment plan.
However, the spouses of those MGI staff that perished on board Malkalen, as well as those children that were orphaned, were left without much in the way of support in regards to their emotional and financial wellbeing, as well as employment prospects for the latter. This predicament was further compounded by the potential for those orphans to end up in the Caldari Orphanage System, which was infamous for its failings reported on several years earlier.
Eager to prevent such an occurrence from happening, and acting out of a sense of duty to his mother’s corporation, Commander Adams established the Dependants Benevolent Fund, financed primarily through his own capital initially through his means as an independent capsuleer, then through revenue generated through a series of investments and acquisitions in multiple enterprises within Caldari space. Initially they were centred on Itamo IV, with significant shares purchased in enterprises such as the Itamo Naval Rum Distillery and agricultural firms. As time passed, investments in the greater State and the Federation were made to increase the amount of revenue available to support the goal of the Fund. Corporate records also indicate the purchase of a remote part of Itamo IV along the coastline near Kallaste Metropolitan City, leased under a ninety-nine year agreement through the Fund. As Commander Adams remains a board member of the Fund, it can be speculated this was a legal manoeuvre on his part to secure a permanent planetary abode.
Over a period of ten years, the Fund has established itself as a representative of MGI descendants and survivors on the Caldari political scene as well as conducting a large portion of their retirement and wealth management. Most of them had placed their money in investment schemes operated by Caldari Funds Unlimited, or had their pension plans with them. During the Heth years, wary of the of the CPD control of Kaalakiota and cognizant of the fact that CFU was influenced heavily by KK officials, Commander Adams undertook an executive decision to divest from CFU and transfer their assets to State and Region Bank’s investment division. To this day, State and Region Bank continue to act as their financial services provider.
As of YC121, the Benevolent Fund continues to provide financial and professional assistance to those dependents of the deceased that were in need of psychological support and employment retraining, as well as providing in full the educational costs of those eligible children, orphaned or otherwise, in helping them achieve their chosen career tracks. Several of the recipients have continued their education at State-wide institutions such as the Science and Trade Institute and School of Applied Knowledge, as well as the State War Academy in a few instances. The first beneficiary to graduate from their education was Mauno Kandel, who passed out with top honours from the State War Academy in the class of October YC120.