NET WORTH: $1.39 billion
SOURCE OF WEALTH: Computer Discount Warehouse (CDW)
FUNDING AREAS: Education, Jewish Community, Medical Research, Community Services
OVERVIEW: Michael Krasny and family move their philanthropy through Circle of Service Foundation, which makes grants to support organizations to enhance community, opportunity, and well-being. The foundation gave about $27 million in a recent year.
BACKGROUND: Michael P. Krasny graduated from University of Illinois. He founded Computer Discount Warehouse (CDW) in 1984 as an online store for IT products. In 2007, his company was bought out by Madison Dearborn Partners for $7.3 billion.
EDUCATION: Circle of Service education programs support "organizations that optimize opportunities for low-income youth to live engaged and productive lives." Support has gone to Teach for America, Advance Illinois, Chicago Public Education Fund, Erikson Institute, University of Chicago, and University of Illinois Foundation.
JEWISH COMMUNITY: Millions have gone to the Jewish Federation of Metropolitan Chicago. Other grantees include Birthright Israel, American Joint Distribution Committee, Chicago Jewish News, Council for Jewish Elderly, and Holocaust Memorial Foundation of Illinois.
MEDICAL RESEARCH: The foundation "supports organizations that seek to advance scientific and medical research focused on the diagnosis, prevention, treatment and cure of cancer and other diseases." Millions have gone to Shirley Ryan Ability Lab (formerly Rehabilitation Institute of Chicago). Other grantees include Duke University, American Heart Association, and Cancer Research Fund of the Damon Runyon-Walter Winchell Foundation.
COMMUNITY SERVICES: Circle of Service "supports organizations in Cook and Lake Counties, Illinois that help individuals achieve stability in their lives and grow to achieve increasing self-reliance and independence." Support has gone to Cabrini-Green Legal Aid Clinic, Adler Planetarium, AIDS Foundation of Chicago, Center for Enriched Living, and Museum of Science and Industry.
LOOKING FORWARD: Expect Krasny and family to stick with these interests.