Next generation of leaders take the helm at Kozmetsky Family Foundation and Reissa Foundation.
The board of trustees of RGK Foundation, a family foundation formed in 1966 by Ronya and George Kozmetsky, announced today that they are facilitating the creation of two new foundations in order to better serve their families and communities. Kozmetsky Family Foundation and Reissa Foundation will receive equal distribution of all assets from the endowment; RGK Foundation is winding down operations and has awarded their final grant of $750,000 to the RGK Center for Philanthropy and Community Service at The University of Texas at Austin’s LBJ School of Public Affairs.
“Our family has grown significantly over the 50 years that we have served our grantees and communities,” said Greg Kozmetsky, chairman and president of RGK Foundation. “The third and fourth generations of our family are ready to contribute and are excited about giving back to their communities in ways that better align with their respective interests,” he added. “It was the right time to create new giving mechanisms, allowing for deeper engagement by more family members and enabling us to better serve our respective communities.”
The Kozmetsky Family Foundation will be based in Texas and led by Sarah K. Miller, daughter of Cindy and Greg Kozmetsky. The Reissa Foundation will be based in California (investing both there and in Texas), and led by Jordan Scott, son of Nadya and Michael Scott. Each foundation will share details once they have been finalized, including their respective areas of focus, grantmaking processes, and staffing and board structures.
“All of our family members, board of trustees and staff continue to have a deep and abiding respect for the tireless work and dedication of our grantee nonprofit organizations, and we are proud of what we have accomplished together,” said Kozmetsky.
Since 1966, RGK Foundation has awarded over 3,500 grants around the U.S. totaling more than $133 million, with particular emphasis on programs that serve vulnerable populations such as women and children and that build institutional capacity for the nonprofit community. In the medical and healthcare arena, RGK Foundation has made significant investments in medical research including scleroderma and ALS; programs addressing middle school obesity; and a variety of programs that increase access to healthcare services for disadvantaged populations. Related to education, the foundation has had a strong commitment to improving the quality of PreK-12 public education, primarily through professional development for teachers; literacy programs; and programs that prepare students for lifelong success through STEM education, college readiness, access and completion. The community has also benefited from long-term funding for systems change and program services for individuals and families affected by abuse and neglect.
RGK Foundation has made signature investments over the years in programs that advance philanthropy and prepare the next generation of nonprofit leaders through the establishment of the RGK Center for Philanthropy and Community Service at the University of Texas at Austin’s LBJ School of Public Affairs. Their final capstone grant of $750,000 to this program – made in conjunction with what would have been George Kozmetsky’s 99th birthday – is to a fellowship named in honor of Ronya and George. The grant supports graduate students’ participation in the RGK Center’s Portfolio Program in Nonprofit Studies, helping ensure a strong pipeline of philanthropic leaders for the future.
RGK Foundation will honor all of its funding commitments and current grantees will continue to submit reports through RGK Foundation’s website. Kozmetsky Family Foundation and Reissa Foundation will post their respective strategies and processes for future grants at www.rgkfoundation.org as soon as they are finalized.
For more information, please refer to the Frequently Asked Questions document at www.rgkfoundation.org.