Charles L. Barancik
In Memorium
Chuck Barancik was the founder and vice chair of the Charles & Margery Barancik Foundation, established in 2014. He had a diverse background in accounting, private industry, and entrepreneurship and brought vast experience to his philanthropic endeavors.
Chuck earned a B.S. in Business Administration from Northwestern University and began his career as a Certified Public Account with Miller Copper & Co. In 1956, he entered private industry, and for over 30 years, he purchased and operated 10 manufacturing companies. There were three major companies his family’s portfolio: Justrite Manufacturing Company, Mayline Company, and Hamilton Industries.
Justrite was the first company the Barancik family acquired in 1965. Half of the company’s sales were carbide lamps and lanterns, while the rest was in a limited line of fire prevention equipment. Chuck’s vision was to become the foremost force in fire prevention and he credits the company’s dedicated management team for achieving dominance in this niche market. Federal Signal purchased Justrite in 1994. Next came Mayline, an office furniture manufacturer, which was acquired in 1975, and sold in 2007, to Robert Baird Venture Capital. The third major company owned by the Barancik family was a laboratory solutions company and office furniture manufacturer called Hamilton Industries. They owned it from 1982 to 1992, at which time it was purchased by Fisher Scientific.
These companies grew substantially over the years and great recognition is given to the contributions of their outstanding management teams. Chuck instituted a program of paying out at least 25 percent of each year’s earnings in the form of bonuses and defined benefit plans—often times reaching the maximum allowed by statute in profit sharing fund contributions. He is particularly proud of the fact that officers’ compensation was more than prevailing wages, resulting in tremendous loyalty and tenure among the members of the leadership teams.
Starting in the early 1990’s, all of the companies were sold in order to embark on a new career path. His focus transitioned to philanthropy where he gave generously of his time and resources. Chuck served on the boards of Asolo Repertory Theatre, National Multiple Sclerosis Society, Ravinia Festival, and Sarasota Orchestra.
He and his wife, Margie, married since 1960, had many philanthropic passions. Of greatest interests, are the health and welfare of children and families, education, appreciation for the arts, and supporting medical research. Chuck and Margie established the Charles & Margery Barancik Foundation to carry out their philanthropic vision in Sarasota, Florida, and beyond. They were keenly aware of the permanence of the Barancik Foundation and have entrusted its future care to their family and professional managers. It was Chuck’s sincere hope that they will carry out its mission to make a meaningful difference.
