NET WORTH: Unknown
SOURCE OF WEALTH: Carlyle Group
FUNDING AREAS: Healthcare, Education, TBD
OVERVIEW: Glenn Youngkin and his wife Suzanne move philanthropy through the recently-minted Phos Foundation, which gave away $250,000 in a recent year. The Youngkins have given big gifts to schools with which they have a personal connection.
BACKGROUND: Glenn A. Youngkin has a B.S. in mechanical engineering and a B.A. in managerial studies from Rice University, and an MBA from Harvard Business School. He was a management consultant with McKinsey & Company and worked in the investment banking group at CS First Boston. He joined Carlyle Group in 1995, where he recently assumed the position of co-Chief Executive Officer.
ANIMALS: The Youngkins gave a major gift to create the Youngkin Equine Soundness Clinic in the Fout Barn at Virginia Tech’s Marion duPont Scott Equine Medical Center (EMC). The clinic is dedicated to the comprehensive care and treatment of the whole horse.
EDUCATION: The couple gave a $1 million gift to Suzanne’s alma mater, Southern Methodist University, toward the renovation of Moody Coliseum. Suzanne has strong ties to Texas; the couple’s son Grant attends the school. The family has supported Youngkin’s alma mater, Rice University, home to the Youngkin Center, which provides a place for student-athletes to gather and get help and support. Grant once attended Rice University, and played basketball there, following in the footsteps of his student-athlete father. The Youngkins have supported Norfolk Academy in Virginia, where Youngkin graduated.
LOOKING FORWARD: Grantmaking out of the Phos Foundation is just kicking off, but the establishment of this family foundation could mean that the Youngkins are ready to personalize and deepen their giving. Religious causes could also emerge as important interest areas: Youngkin is involved with the Vestry of Holy Trinity Church and through their foundation the Youngkins recently gave a modest grant to FOCUS North America, “a national movement of Orthodox Christians, united in faith and joined by a desire to provide action-oriented and sustainable solutions to poverty in communities across America.”
The Phos Foundation does not provide a clear avenue of contact but below is an address:
9640 Georgetown Pike
Great Falls, VA 22066
LINK: Carlyle Group