NET WORTH: Unknown
SOURCE OF WEALTH: Summit Partners
FUNDING AREAS: Education & Youth, Arts & Culture, Health & Human Services, Animals
OVERVIEW: E. Roe Stamps and his wife Penny conduct their philanthropy through the Stamps Family Charitable Foundation. A major component of the couple's philanthropy involves their Stamps Scholars Initiative, which partners with colleges and universities across the country. From their initial gifts to their alma maters, the initiative has grown and partnered with over 40 schools. The couple has also heavily supported Penny's alma mater, University of Michigan. Apart from education, the Stamps also support the arts, health, human services and more. Southern Florida and Chicago are important sites of philanthropy. The foundation is accessible to grantseekers, with a website and a contact page. While there are guidelines for applying for a Stamps scholarship, guidelines for applying for Stamps Foundation grant are less clear.
BACKGROUND: Born in Georgia, E. Roe Stamps IV received B.S. and M.S. degrees in industrial engineering from Georgia Institute of Technology, and in 1974 an MBA from Harvard Business School. He also served in the U.S. Navy. Stamps worked in such roles as general partner at TA Associates, and senior investment manager at First Chicago Investment Corporation, before co-founding Summit Partners, a Boston-headquartered private equity and venture capital firm. Stamps relocated to South Florida with his wife Penny in the early 1990s.
EDUCATION & YOUTH: A centerpiece of the Stamps' education philanthropy is their Stamps Scholars Initiative, which partners with over 40 colleges and universities across the country to provide merit scholarships. The initiative began in 2006 at their alma maters (University of Michigan and the Georgia Institute of Technology) and has grown to include Caltech, LSU, Mercer University, Tulane, UC Berkeley, UCLA, Darmouth, Morehouse College, and UT Austin, among others.
Apart from this scholarship program, Stamps and Penny have heavily supported Penny's alma mater University of Michigan. Their $32.5 million gift in 2012 resulted in renaming the art and design school the Penny W. Stamps School of Art and Design. Penny earned a B.A. in design from the School of Art and is a former interior designer. Through through their foundation, the couple also supports education outfits such as Columbia University (which received $2.5 million in the most recent fiscal year available), Duke University, Killington Mountain School, University of Wisconsin Foundation, Women of Tomorrow Mentor & Scholarship Program, City Year Miami, Woodward Academy in Georgia, and Hurricane Island Outward Bound School, which "challenges students to achieve more than they ever thought possible and empowers them to be a positive force for change in their world."
Through their Stamps Family Charitable Foundation, the couple also earmarks support for youth oufits. Recent grantees include Key Children's Foundation (which received $200,000 in the most recent tax year available), and Kristi House Child Advocacy Center.
ARTS & CULTURE: Given Penny's background in the arts, it is no surprise that the couple's philanthropy features arts and culture. Recent grantees include Concert Association of Florida, Lowe Art Museum - University of Miami, Museum Of Contemporary Art in North Miami, Museum of Science, Musical Arts Association of Miami, MoMA, Miami City Ballet, and The Wolfsonian-FIU.
HEALTH & HUMAN SERVICES: Health has not been a huge part of the couple's charitable donations through their foundation, lately. Recent grantees, however, include National Diabetes Foundation, Cancer Research Institute, Baptist Health Foundation, Miami Transplant Institute, and Muscular Dystrophy Association. In human services, meanwhile, recent Stamps Foundation grantees include Community Partnership For Homeless, and Chapman Partnership, which provides homeless services. An element of the couple's philanthropy also includes support for people in the armed forces, which is no surprise given Stamps's own Navy service. The couple has recently bankrolled Armed Forces Foundation and Intrepid Fallen Heroes Fund.
ANIMALS: Recent grantees include Alley Cat Allies, a "nonprofit advocacy organization whose mission is to transform and develop communities to protect and improve the lives of cats," Best Friends Animal Society (which received close to $230,000 in the most recent fiscal year available), Grayvik Animal Care Center, and ORCAT - Ocean Reef’s Trap-Neuter-Release (TNR) program for cats.
OTHER: Apart from Florida and the nationwide scholarship program that the Stamps run, the Chicago area is also another important target of the couple's giving. Penny was born in Chicago and Stamps worked in the region for a time. The couple through their foundation gave Chicago Community Foundation $2.9 million in a recent fiscal year. They have also given millions to Chicago Community Trust.
LOOKING FORWARD: Expect the Stamps' national scholarship initiative to continue to grow. On a more regional level, the couple's other philanthropy will likely stay focused on the Sunshine State. Down the line, we'll have to keep apprised of the next generation of the Stamps' philanthropy. Daughter Annie Stamps serves as vice president of the foundation.