SOURCE OF WEALTH: Goldman Sachs
FUNDING AREAS: Education, Policy, Human Services & Health, Religious, Environment & Animals
OVERVIEW: E. Gerald Corrigan and family move their philanthropy through the Challenger Foundation, which has given around $1 million annually of late. Corrigan's philanthropy involves his alma maters, various policy shops, and more. The foundation has a minimal web presence and does not accept unsolicited proposals.
BACKGROUND: E. Gerald Corrigan received a bachelor's degree in economics from Fairfield University and an M.A./Ph.D. in economics from Fordham University. Corrigan served as president of the Federal Reserve Bank of Minneapolis and special assistant to Federal Reserve chairman Paul A. Volcker. He also served as president and chief executive officer of the Federal Reserve Bank of New York. Corrigan joined Goldman Sachs in 1994.
EDUCATION: Corrigan has steadily supported alma maters Fordham University and Fairfield University. In 2007, he gave $5 million to each school and continues to support them via Challenger Foundation. Other grantees have included Classroom Inc., Inner-City Scholarship Fund, The Episcopal Academy, and Roca, whose mission is to "disrupt the cycle of incarceration and poverty by helping young people transform their lives." The family has also supported the University of Rochester, Corrigan's wife Cathy's alma mater.
POLICY: Not only does Corrigan have a long background with the Fed, but Cathy was also president and CEO of the Federal Reserve Bank of Boston. It's no surprise then that a component of this family's giving involves supporting policy institutions. Grantees have included The Trilateral Commission, "a non-governmental, non-partisan discussion group to foster closer cooperation among North America, Western Europe, and Japan," The American Academy of Arts and Sciences, and Volcker Alliance, "launched in 2013 to address the challenge of effective execution of public policies and to rebuild public trust in government."
HUMAN SERVICES & HEALTH: Grantees have included Boston Food Bank, John's Island Community Service, Indian River Medical Center, and Mass General Hospital Cancer Center.
RELIGIOUS: The Corrigans via Challenger Foundation have supported Jesuits USA Northeast Province, and Our Lady of Perpetual Help.
ENVIRONMENT/ANIMALS: The Challenger Foundation's grantmaking has involved Nature Conservancy, Animal Rescue Services, and National Park Foundation.
LOOKING FORWARD: Expect this family to stick with their established interest areas.
The Challenger Foundation does not provide a clear avenue of contact but below is address and phone:
P.O. Box 73, Bowling Green Sta.
New York City, NY 10274