NET WORTH: Unknown
SOURCE OF WEALTH: General Electric, Jack Welch, LLC
FUNDING AREAS: Education & Youth, Poverty & Hunger, Health, Animals
OVERVIEW: Jack Welch and family move their philanthropy through the John F. Welch Jr. Foundation, which gave away around $920,000 in a recent year. The family's giving touches a range of outfits, including education, poverty, and health organizations. New York, Boston, and the West Coast are regions of giving.
BACKGROUND: A native of Salem, Massachusetts, John "Jack" Welch graduated with a B.S. in chemical engineering from the University of Massachusetts in 1957 and with M.S. and Ph.D. degrees in chemical engineering from the University of Illinois in 1960. Welch joined GE as a chemical engineer in its Plastics division and from 1981 to 2001 served as CEO and chairman of GE. Welch is the head of Jack Welch, LLC, where he serves as senior advisor with the private equity firm, Clayton, Dubilier & Rice and is an advisor to IAC (Interactive Corp).
EDUCATION & YOUTH: Jack and Suzy Welch recently launched Jack Welch Management Institute at Strayer University, an online MBA and certificate program. Through the John F. Welch Foundation, Welch and family have supported Columbia University, Boys & Girls Club of Greater Salem, Gateway Public Schools, Head-Royce School, A Better Chance of Wilton, Inner-City Foundation, and Sacred Heart University, the recent recipient of a seven-figure gift. Sacred Heart University is home to the Jack Welch College of Business.
Suzy Welch is an author and television commentator who donates the proceeds from her books to scholarships for low-income students. The couple have donated at least $8 million to the University of Massachusetts, primarily through the John and Grace Welch Scholarship fund for Salem High School students.
POVERTY & HUNGER: Grantees include ACCFB Food Bank, Alameda Family Services, Boston Health Care for the Homeless Program, Food Bank Contra Costa, and Food Empowerment Project.
HEALTH: Funds have gone to Cleveland Clinic Florida, Damon Runyon Cancer Research Foundation, JRDF, Jupiter Medical Center Foundation, and NYU Langone Medical Center.
ANIMALS: Suzy Welch is an animal rights advocate who activated Jack's interest in dogs. The family has supported Mercy For Animals, Best Friends Animal Society, Animal Medical Center of NY, LA Animal Rescue, and Catskill Animal Sanctuary.
LOOKING FORWARD: Expect the family's steady giving to continue.
The John F. Welch Jr. Foundation
11935 Lost Tree Way
North Palm Beach, FL 33408