Marcus and Carole Weinstein
/SOURCE OF WEALTH: Weinstein Properties
FUNDING AREAS: (International) Education, Jewish Causes, Virginia Community
OVERVIEW: Marcus Weinstein and his wife, Carole, do not appear to have a formal charitable vehicle, but they’ve given big gifts to their mutual alma mater, the University of Richmond. They’ve also engaged in philanthropy along with their daughter, Allison, and son-in-law.
BACKGROUND: Marcus M. Weinstein graduated with his B.A. from the University of Richmond in 1949. Weinstein began his career in real estate in 1952, building single-family homes largely in the Richmond, Virginia area. He later expanded into the apartment and commercial real estate markets. Weinstein launched Weinstein Properties which owns and manages over 18,000 apartment homes.
ISSUES:
EDUCATION: The Weinsteins are steady patrons of University of Richmond, their mutual alma mater. Carole also taught English at the university and was on the board of trustees; their daughter Allison is a current trustee. Carole pledged $9 million for the new Carole Weinstein International Center at the school. Through the years, the family, along with son-in-law Ivan Jecklin, have donated more than $50 million to the University of Richmond, home to other outfits such as Weinstein Hall, Carole and Marcus Weinstein Learning Center, and the Weinstein Center for Recreation and Wellness. The family also backs Davidson College, including supporting capital projects, student initiatives and financial aid, The Weinsteins gave a $1 million gift to further support Davidson’s Weinstein International Programs, which include the Weinstein Travel Fund, offering international students resources to travel and experience more of the United States during breaks in the academic calendar. Other higher education grantees include the the Brooklyn College Foundation, Virginia Commonwealth University, Florida Southern College and the Medical College of Virginia Foundation.
The Weinsteins also give to a range of K-12 initiatives. Recent recipients include the Appomattox Educational Foundation and the Children’s Museum of Richmond.
JEWISH CAUSES: Weinstein chairs the board of the Virginia Holocaust Museum. The family strongly supports the Jewish Community Federation of Richmond and the Weinstein Jewish Community Center. Other grantees have included the American Society of the University of Haifa.
RICHMOND COMMUNITY: The Weinsteins support several organizations that work to improve the greater Richmond community. Past recipients include the Central Virginia Food Bank, the Greater Richmond Chamber of Commerce, the Library of Virginia, the Richmond SPCA and the Virginia Home for Boys and Girls.
OTHER: The Weinsteins have supported national organizations including the American Heart Association, the the American Cancer Society, the American Red Cross and the United Way.
LOOKING FORWARD: Expect the family to continue with their established interest areas for now, particularly at select Virginia universities and in the Jewish community. Allison, Co-President and Chief Executive Officer of Weinstein Properties, should be watched carefully down the line as the family’s philanthropy shifts to its next generation. She’s described herself as a “staunch supporter of GLBT equality” and has been involved with organizations like Equality Virginia.
LINK: Weinstein Properties
