The older daughter of R.J. Reynolds (1850-1918), founder of R. J. Reynolds Tobacco Company, and Katharine Smith Reynolds (1880-1924), Mary Reynolds Babcock was born in Winston-Salem, North Carolina, on August 8, 1908. She had two brothers, R. J. Reynolds Jr. (1906-1964) and Zachary Smith Reynolds (1911-1932), and a younger sister, Nancy Susan Reynolds (1910-1985). Her childhood years were spent at the family’s home on West Fifth Street and then at Reynolda, the family’s estate located just north of Winston-Salem. She attended elementary school at Reynolda School, followed by Salem Academy, Miss Mason’s School in Tarrytown, New York, and Miss Wright’s School in Pennsylvania (now the Bryn Mawr College dormitory for graduate students). After graduating from Miss Wright’s School in 1927, she lived in Paris and New York and studied art and other subjects. In December 1929, she married Charles Henry Babcock (1899-1967), an investment banker from Philadelphia. They lived in Philadelphia, New York, and then Greenwich, Connecticut. The couple had four children: Mary Katharine, Barbara Frances, Charles Henry, III (1932-2005), and Betsy Main (1937-2001).

In 1934, the Babcocks acquired the Reynolda Estate from the other Reynolds heirs. Mary worked to modernize the estate without changing its character. She and Charlie streamlined the farm operations and made several changes and additions to the bungalow, in keeping with the interests of their young family and their frequent house guests.

Initially the Babcocks spent only holidays and vacations at Reynolda, living primarily in Greenwich, Connecticut. As a founding partner of the brokerage firm Reynolds and Company, Charlie commuted daily to his office in New York. During World War II, while her husband served in the U.S. Army, Mary and their four children—Katie, Charles, Barbara, and Betsy—lived in a cottage in Reynolda Village. In 1948, the family relocated to Reynolda year-round.

Mary Reynolds Babcock, who inherited $30 million from her father’s estate in 1936, became a noted philanthropist, contributing to many worthy recipients. It has been estimated that she gave close to $7 million during her life in supporting the arts, education, and civic projects. Over the years, the Babcocks donated or sold much of the estate’s acreage. The largest transformation came with the gift of 350 acres to Wake Forest College in 1946 for the relocation of the campus from Wake Forest, North Carolina to Winston-Salem. On October 15, 1951, President Harry S. Truman arrived in Winston-Salem to give the keynote address at the groundbreaking ceremony. Ultimately, the Babcocks gave 605 acres of Reynolda land to Wake Forest University, including Reynolda Gardens and Reynolda Village, now home to shops and restaurants.

Mary Reynolds Babcock died in New York City on July 17, 1953, at the age of 44. A foundation was created by her surviving husband, Charlie Babcock. Since 1954, the Mary Reynolds Babcock Foundation has supported many organizations and people suffering economic hardships throughout North Carolina and the Southeast, with a mission focused on helping people move out of poverty and achieve greater social and economic justice.