OVERVIEW: The Resnick Foundation supports art institutions, including museums and theater companies in the Los Angeles area. It makes a few grants to education and health organizations, but those are fewer and farther between.
IP TAKE: Lynda Resnick’s foundation prioritizes the arts scene in Los Angeles.
PROFILE: The Resnick Foundation was established by Lynda R. Resnick, the entrepreneur, businesswoman, writer, and philanthropist who made her stamp in the world through a variety of businesses, including Roll Global, FIJI Water, POM Wonderful, Franklin Mint, Teleflora floral wire service, and large industrial nut and citrus farms in California. She co-authored a book called Rubies in the Orchard: How to Uncover the Hidden Gems in Your Business, in which she explains her philosophy of making a lot of money while still being a good citizen of the planet.
Resnick views philanthropy as part of being a good citizen, and she has been making grants to art and medical organizations since the late 1990s. While the foundation's assets of over $83 million may not compare to some other grantmakers in the city, Resnick has been making quite a few grants each year. Some are over $7 million.
Past grantees include the Los Angeles County Museum of Art, which received a $7 million grant and the California Institute of Technology, which received more than $5.9 million. Smaller grants include $70,000 each to the Gabriella Axelrad Education Foundation and the Usual Suspects Theater Company, both based in Los Angeles. When it comes to Resnick's grantmaking strategy, there is a large disparity between high-dollar grants to well-established institutions and more modest grants to seemingly unknown arts groups.
Resnick, whose net worth is around $5.6 billion, collects and admires art, and as a consequence, most of the foundation's grantmaking supports museums. She is both vice chairman of the Los Angeles County Museum of Art and trustee of the Philadelphia Museum of Art. She is also on the executive board of UCLA Medical Sciences, the Prostate Cancer Foundation, the Milken Family Foundation, and the Aspen Institute.
The Resnick Foundation does not have a website, and provides no clear guidelines for grant seekers.
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