EUGENE MCDERMOTT FOUNDATION
EUGENE MCDERMOTT FOUNDATION. The McDermott Foundation was established in 1955 by industrialist Eugene McDermott, cofounder of Geophysical Services, Incorporated (now Texas Instrumentsqv). The McDermott Foundation gives grants in support of educational, cultural, social-service, and other civic and community ventures. In 1994–95 the foundation had assets of over $43 million and made seventy-nine grants totaling $2,789,640. The foundation office was in Dallas, and Mary McDermott Cook was president.