Taylor is one of three liberal billionaires who founded the Wellspring Philanthropic Fund, a key funder of voter engagement initiatives, progressive think tanks and movement organizations. She's the daughter of Nicholas and Susan Pritzker, whose Libra Foundation has emerged as a leader in progressive philanthropy. Bohnetts career as an early internet entrepreneur (remember GeoCities?) We were highly aware of all the money stuck in DAFs. Meant to conjure the idea of catalyst, the name emerged serendipitously from the teams initial discussions. She may be related to some of the most prominent figures in conservative philanthropy, but this Wisconsin-based heiress has charted a different course with donations to progressive women'srights groups and Democratic political contributions. Our intention is to be a partner that supports these solutions, leading to lasting regeneration that transforms us all. It also led the team to adopt an integrated capital approach that embraces impact investments and a values-aligned portfolio alongside multi-year general support grants. The third of Katalys primary program areas is Mindfulness and Healing Justice, where Pritzkers husband Chris Olin has focused his efforts. Since 2017, the New York City doyenne of philanthropy has spent more than $100 million fighting mass incarceration with her Art for Justice Fund, which aims to safely reduce the prison population and, like many of her efforts, incorporates art and artists in the solution. McIntosh has headed the environment-focused McIntosh Foundation since her husband Michael passed away in 2015. Spurred by the Covid-19 crisis, Americas racial reckoning, increasingly frequent climate disasters and a profound sense that traditional ways of giving are insufficient to meet burgeoning needs, donors are re-examining not only what but how they give. Check out IPs directory of philanthropy and fundraising consultants. While Jenifer Pritzker doles out money, J.B. Pritzker is changing policy in Illinois to support the familys agenda, Bilek writes. As a fighter for Chicago's environment moves up and on, Pritzker must When we look at the past 18 months, there is a growing awareness that existing approaches to social impact are not enough, says Nicholas A. Tedesco, president and CEO of the, Following the examples of donors like MacKenzie Scott, who has given away more than $8 billion in short order with a no strings attached approach, philanthro. The letter isn't the first time that Disney has spoken out about tax reform. Wong says institutional philanthropy has not only failed to offset skyrocketing wealth inequality, but has actually helped to perpetuate iteither by funding policy advocacy that benefits extractive practices, or simply by failing to properly resource organizations and movements proposing bold alternatives. NCFPs Trustee Education Institute provides a comprehensive overview of the important legal, investment, ethical, grantmaking, and family dynamics issues facing family foundation board members and CEOs. The goal is to spend down (or spend out, as Pritzker prefers to say) within roughly 10 years or so. Following the examples of donors like MacKenzie Scott, who has given away more than $8 billion in short order with a no strings attached approach, philanthropists are revamping their protocols. Jennifer worked for Microsoft early in her career, as did David, and has long shared her largesse with organizations such as Planned Parenthood, the United Way and NPR. When we look at the past 18 months, there is a growing awareness that existing approaches to social impact are not enough, says Nicholas A. Tedesco, president and CEO of the National Center for Family Philanthropy. Its current priorities include organizing around redistricting and the Census. Since then, writes Bilek, the governors cousin has used the foundation to fund institutions that support radical gender ideology, including the Human Rights Campaign Foundation, the Williams Institute UCLA School of Law, the National Center for Transgender Equality, the Transgender Legal Defense and Education Fund, the American Civil Liberties Union, the Palm Military Center, and the World Professional Association of Transgender Health. To offset obstacles imposed by structural racism, Kataly provides non-extractive loans, permitting financial loss in return for greater social impact. Heres a look at how this new activist foundation came to be and where its going. Alongside Regan Pritzker and her husband Chris Olin (in addition to Susan Pritzker, whos also on the new foundations board), Katalys team includes CEO Nwamaka Agbo, an activist and consultant whose restorative economics framework plays a vital part in how Kataly moves its money. The foundations grantmaking interests encompass racial justice, womens rights, environmental justice and drug reform policy. The need for generational movement funding was one reason Kataly and a group of other fundersincluding some big newcomer donors to this workjoined the Libra Foundation last year to set up the Democracy Frontlines Fund. Sir Fazle Hasan Abed Foundation Embarks on New 'Equitable' Approach to Grant Making Norman Lear co-founded People for the American Way, and the Lear Family Foundation frequently supports progressive advocacy, including for the environment. I would love to see Kataly set a tone that its OK and necessary for philanthropy to resource at a big scale these projects that are holding the vision of a transformed society that is regenerative and sustainable, she said. Progressive benefactors are also adding an urgency to their spending, eschewing foundations that operate in perpetuity and creating models to spend their entire endowment in as little as 10 years. Arcus also funds conservation work in Africa and Asia. Warren Buffetts daughter Susan Buffett founded the Omaha-based Sherwood Foundation, another entry in the Buffett familys collection of left-leaning philanthropies. It felt very self-congratulatory, instead of focusing on community and the true root of Jewish philanthropy, which is to be more anonymous in your giving, says Pritzker, who distanced herself by moving to California and working as an elementary schoolteacher. Some of the richest people in the United States support progressive causes and the number of such donors has grown in recent years amid a vast influx of wealth into philanthropy. Co-President, The Libra Foundation; Co-founder, Kataly Foundation. The conversation is very exciting, with donors telling us, This is the nudge I needed, and families talking about values and what they wanted to give, says Jennifer, who delved into issues about money and family dynamics in her 2020 memoir, We Need to Talk. She also told me that transferring wealth to community-owned and governed organizations allows us to build up the financial sustainability of those communities, of those projects. J.B. Pritzker, they wrote an . It feels a little different than having a very top-down mandate with a mission thats then carried out by people slotted into very particular roles, Pritzker said. We need policy changes, Jennifer says. Regan Pritzker Co-President, The Libra Foundation; Co-founder, Kataly Foundation Regan Pritzker is the co-founder of the Kataly Foundation and is currently serving as a board member, as well as a collaborator with the Restorative Economies Fund. Want to get inside funders' heads? We know that what is politically feasible is not what is ultimately necessary.. from the University of Chicago. Explore GrantFinder, a powerful resource for IP subscribers. Along with his wife, Cindy, Jay Pritzker had acted as a surrogate parent during Penny's difficult adolescent years. The former often benefit organizations working for community control of land and resources, such as the Earthseed Land Collective, the Federation of Southern Cooperatives and the Highlander Research and Education Center. Beginning in 2019, she began quietly giving to a variety of progressive causes and signed the Giving Pledge the following year. By clicking Sign up, you agree to receive marketing emails from Insider Kids With Autism Have a Message for Transit Riders. She supports racial justice organizing through the Daphne Foundation and has been critical of corporate compensation at the Walt Disney Company. It is. The founding of the Kataly Foundation in 2018 was a manifestation of her effort to move along that continuum of alignment. president of the Museum of Modern Art in New York. Hes also on the board of the Walton Family Foundation. Robb Report spoke with leaders in the field, including philanthropists and executives, who are addressing pressing issues, notably racism, mass incarceration, education inequalities and the climate crisis, with both sophisticated financial structures and the simplest of tools: the will to effect change, and to do it quickly. The result has been Kataly, a foundation separate from Libra thats out to push boundaries and critique the philanthropic status quo. The Kataly Foundation was created in 2018 by Regan Pritzker and Chris Olin. Facebook co-founder Dustin Moskovitz and his wife Cari Tuna have pledged to give away their entire fortune during their lifetime. The Pritzker family is an American family engaged in entrepreneurship and philanthropy, and one of the wealthiest families in the United States of America (staying in the top 10 of Forbes magazine's "America's Richest Families" list since the magazine began such listings in 1982). In 2002, Forbes reports, she sued her father and the Pritzker family and came away from it with a $500 million payout. Bowditch has previously advocated for raising taxes on the wealthy: In 2010, he signed an open letter to President Obama asking him to allow tax cuts for millionaires to expire, according to a, Sean Zanni/Patrick McMullan via Getty Images. In that sense, one of the most interesting dynamics at Kataly is its status as a democracy fundernot in the typical sense, but in terms of its decision to center grantees proposing radical democratization of the economy. But the amount of money available to donors is only one part of the story. In isolation, a cooperative enterprise or community-governed loan fund can only do so much. Keep reading to learn more about the 18 known people who asked for a wealth tax, listed in alphabetical order. Alongside Regan Pritzker and her husband Chris Olin (in addition to Susan Pritzker, whos also on the new foundations board), Katalys team includes CEO Nwamaka Agbo, an activist and consultant whose restorative economics framework plays a vital part in how Kataly moves its money. The CEO of Universal Remote Control, Inc., Park gives through the eponymous Chang K. Park Foundation. But their financial machinations did not stay private for long. She is on the Democracy Alliance board and has also held leadership roles in Planned Parenthood and the Democratic Party itself. Through investments in the techno-medical complex, where new highly medicalized sex identities are being conjured, Pritzkers and other elite donors are attempting to normalize the idea that human reproductive sex exists on a spectrum, writes Jennifer Bilek. I dont think traditional philanthropy has permission anymore to be holding all the cards, she says. The Jennifer and Jonathan Allan Soros Foundation supports progressive causes like reproductive rights, gun violence prevention and racial justice. But when they eagerly asked if they are part of All Star Code and Giving Gap, her response reflected another value she inherited from her parents and hopes to pass along: hard work and fierce independence. A nonagenarian real estate developer, Weissberg supports efforts to reform the justice system and empower women and people of color through the Weissberg Family Foundation. Were at a point of inflection for philanthropy. Kataly seeks to boost community ownership and governance in alliance with social movements. Contact NCFP for support! J.B. Pritzker signed legislation that amends the state's sports betting law that will finally allow bets to be made on in-state college sports teams while lifting the ban on online . Shechtel is a hedge fund manager and one of three billionaires behind the publicity-shy Wellspring Philanthropic Fund, a font of liberal money. I grew up knowing about my father and his mother and others being Black in segregated Baltimore and having to work all their lives for white people who thought they were inferior, cleaning houses for a buck and change, she says. Transit agencies across the country are broadcasting public service announcements recorded by children with autism for Autism Awareness Month . About Us | Libra Foundation The goal was just to get the money moving.. Rosenstein also helped develop Google Drive, GChat and Facebook pages, according to his LinkedIn profile. Hanauer, 60, is an entrepreneur and investor. Grantees include a strategically and geographically varied set of projects designed, for the most part, with local, grassroots control of economic decision-making in mind. Kataly funds nearly 300 organizations, an eclectic list that ranges from the East Bay Permanent Real Estate Cooperative, which helps BIPOC communities purchase mixed-use and residential properties, and the Asian Pacific Environmental Network, a green advocacy group representing immigrant communities, to the Harvard Divinity School. As with all of Katalys program areas, restorative economics centers racial justice, supporting grantees focused on the financial empowerment of BIPOC communities. Regan Pritzker - San Francisco, California, United States 5 To date, All Star Code has graduated over 1,000 students, nearly 70 percent of whom qualified for free and reduced lunch and 95 percent of whom went on to college. A group of 19 ultra-wealthy Americans signed an open letter to 2020 presidential candidates asking them to support a wealth tax, a copy of the letter published byThe New York Times on June 24 shows. He left the social network in 2007to become the online organizer for Barack Obama's first presidential campaign. Staff of the Boston Impact Initiative, an integrated capital fund working to close the racial wealth divide in Eastern Massachusetts. A Swiss entrepreneur and billionaire, Wyss funds environmental conservation in the U.S., with additional grants going out the door to progressive policy nonprofits and intermediaries like the New Venture Fund. Through the Hull Family Foundation, he supports causes like reproductive rights and drug policy reform. Kataly was created at the end of 2018 with $445 million in assets, a sum that Pritzker indicated represents only a part of her wealth. Liesel Pritzker Simmons, who sued her father and the. Lewiss own family story straddles the opportunity divide: Her father, Reginald Lewis, was raised by his mother and grand- parents. Contact NCFP for support! Three married couples also signed the letter together, as well as one person who remained anonymous. Soros, 34, is the son of billionaire financier and philanthropist George Soros, who also signed the letter. Among those patrons are the Gettys, the Pritzkers and the Fishers, whose families made their respective fortunes in oil, hotels and fashion. The couple support progressive advocacy and movement groups, and have been active with the Democracy Alliance. The hotel heiress Regan Pritzker and her husband, Chris Olin, created the Kataly Foundation in 2018 with $445 million in assets. In addition, the letter argues, a wealth tax is fair, patriotic, and would strengthen our democracy by reducing inequality. It references the Greek root of the word, spelled with a k. Like any chemical catalyst, the Kataly Foundation is intended as a means to an end, not an end in itself. But as part of a nationally energized movement, it can become a mechanism for broader change. Her work at Libra, which seeks to shift traditional philanthropy, with its top-down management and frequently onerous reporting requirements, to a more relationship-based and community-minded endeavor, helped persuade her to start the Kataly Foundation in 2018. Michael and Sukey Novogratz donate through Galaxy Gives, which takes its aim at barriers created by structural poverty, oppression, and racism. Katalys name is a window into its philosophy. In 2012, she advocated for a tax hike in California to boost funding for the state's public schools. She isthe daughter of philanthropist Agnes Gund. When you look at the crises in aggregate, what were seeing is an inability to recover. Join our community! Pritzker Simmons and her mother Irene support similar causes through the IDP Foundation. Louise Gund is an heir to the Gund family fortune and sister to prominent liberal philanthropist Agnes Gund. Despite calling for the company to be broken up in May, Hughes has a stake in Facebook worth $850 million, Lacy O'Toole/CNBC/NBCU Photo Bank via Getty Images. One factor that led Pritzker to dedicate so much of her wealth to this new enterprise was her encounters with the work Agbo and others were spearheading around restorative economics. Nicholas and Susan Pritzker fund through the Libra Foundation, which has grown into a mainstay in the social justice movement space. Scotts divorce from Jeff Bezos secured her a fortune in Amazon stock that placed her among the worlds very richest. For the Kataly Foundation, the practice of restorative economics involves transforming the financial status quo by investing in strategies that uplift sustainable community ownership and governance of resources. Going forward, itll be vital for Kataly not only to help its grantees sustain themselves, but to expand their collective movement and its funding sources. Fran Sussner Rodgers founded WFD Consulting, which she led for many years alongside her husband Charles. The Prtizkers money goes toward not only the creation of new surgeries and drugs, but also toward promotion of cultural and linguistic changes to prop up these new identities and induce institutions and individuals to normalize them, writes Bilek. Philanthropy can no longer afford to have our endowments and investments working at cross-purposes, undermining the campaigns, organizing tactics and strategies that our grant partners are fighting for, Agbo wrote in an introductory primer on Katalys approach. On Tuesday, EPA Administrator Michael S. Regan announced that President Biden will appoint Shore, who has been a leading voice for water quality and management, to become EPA's regional administrator for Region 5, which covers six states, including Illinois, and 35 tribes. What kinds of groups benefit, and which communities and systems are empowered, is arguably the more important conversation. But the pandemic made them rethink their approach to giving. Regan Pritzker grew up in Chicago, vaguely suffocated by seeing her famously philanthropic familys name on schools, hospitals and even parks. (Regan chairs Libra's board, and her mother, Susan, serves on Kataly's board.) Youll have to start your own. . Behind the scenes, he has been ramping up his giving through Start Small, which cut its teeth on COVID-19 relief and began funding social justice movements at a steady clip soon after. Moriah is a policy-oriented grantmaker with a number of program areas, including human rights, reproductive health, economic justice and Israel. His parents are Sue and Donald Pritzker. Comprising a network of over 25 community-rooted loan funds, Seed Commons channels resources in a way marginalized communities will be able to control, sidestepping the usual top-down governance of traditional financeand philanthropic grantmaking. Susie Tompkins Buell founded The North Face along with her first husband Doug Tompkins. Do Not Sell or Share My Personal Information. Seattle-based tech investor Nick Hanauer and venture capitalist Leslie Hanauer support environmental, education and gun control causes. Theres also a focus on food systems, workers rights and, most of all, BIPOC empowerment. on a black and white TV in my . All Star Code has broken this ground with tech and media companies, Lewis says, and has inspired AT&T, JPMorgan Chase, Goldman Sachs and other major corporations to contribute by serving as sites for the courses and helping with college-search and job-placement efforts. Many of these donors don't clearly position themselves as left of center, while others are more explicit in their commitments. He has a masters degree from UC Berkeley and serves on the board of the university's Goldman School of Public Policy. After working as a journalist at The Wall Street Journal for five years, Lewis attended her first tech conference in 2011 and noted the industrys dynamism. This allows me to make immediate impact and pivot more quickly if needed, she says. Pritzker was born in Chicago on 16 October 1945, son of Jack Nicholas Pritzker (1903-1979) and Rhoda Goldberg Pritzker (1914-2007). For Regan Pritzker, a member of one of America's wealthiest families and co-founder of the Kataly Foundation, coming to grips with those questions has been a lifelong project. Liesel Pritzker Simmons' Family Values - Worth A successful investor, Hull sought the Democratic nomination for U.S. Senate in Illinois in 2004, a primary race he lost to a rising Barack Obama. Kataly Foundation Business Insider's Rich Feloni previously reported that Hanauer has said he's not a billionaire, but that, as both he and his wife have signed The Giving Pledge, their combined net worth at least approaches the $1 billion threshold. How the next-gen Pritzkers are spending the family fortune For Regan Pritzker, a member of one of Americas wealthiest families and co-founder of the Kataly Foundation, coming to grips with those questions has been a lifelong project. Its really a collection of activists who have found a home together for a period of time to make the change in the world were all trying to accomplish.. This scion of the Walton family co-founded Wend, a social impact fund that has gotten behind progressive causes like Black-led organizing. They include the environment; youth, arts, and education; corporate and market campaigns; and alternative media. Kathryn and James Murdoch launched the Quadrivium Foundation in 2013, endowing it with nearly $10 million in assets. The Spin: Gov. JB Pritzker signs bill officially legalizing pot use for She has an incredible sense of timing, says Helena Huang, project director of Art for Justice. Qualifying donors nominated nonprofits, and the Rishers selected grantees at random from a vast array of organizations, including the Alzheimers Association, the Chinese Progressive Association, Earthjustice and the Equal Justice Initiative. They fund environmental justice work through the Northlight Foundation, particularly in Alaska. Karen Pritzker Age: 53 Primary residence: Connecticut Married, four children Occupation: Philanthropist Activities: A former editor at Working Mother and McCall's magazines, she is a co-founder. Katalys may end up proving even more so. Regan Pritzker Board Member, Libra Foundation Investor Services Libra Case Study Social Enterprise Amplifier recognized an extraordinary program inside our organization and helped us make it visible on the global stage. The NBA legend once had a foundation, but it dissolved in the 1990s. Its fortune arose in the 20th centuryparticularly through the founding and expansion of the Hyatt hotel . AES Corporation founder Roger Sant gives to support urban sustainability and women and girls rights through the Summit Foundation. For us, thats the clear way to make these resources durable and have a benefit that outlives our foundation.. Regan Pritzker Profiles in CA, IL, and NV - Bizapedia Like her sister Nancy Bagley, Nicole Bagley serves on the board of the Area Foundation, founded by their grandmother. Fundamentals of Family Philanthropy Webinar Series. Decades ago, when Agnes Gund was just beginning to explore charitable giving, her mentor, the late philanthropist Irene Diamond, provided seminal advice. That sense of urgency has propelled Gund, a white heiress to a banking and real-estate fortune, to become a leader in the fight for criminal-justice reform. Gain access to personalized support and a network of peers. Like this article? Together they established the New Community Fund, which supports progressive infrastructure groups. An investor, Albright gives through the ARIA Foundation. As the founder of the Marisla Foundation, this below-the-radar donor gives to environmental causes and human services in southern California. This is the moment. A month after covid hit San Francisco, Jennifer and David Risher found themselves ensconced in their Napa Valley home, discussing how they could step up during the crisis. from the University of Chicago. Following husband Steve Jobs death, Laurene Powell Jobs has pursued interests in education, immigration and the environment via the Emerson Collective.