Billionaire philanthropist Tom Golisano has made headlines with his remarkable announcement of a $360 million donation to 82 non-profit organizations across upstate New York. The event, held at the Golisano Institute for Business and Entrepreneurship, was filled with emotion as Golisano expressed his belief in the power of giving.
Key Takeaways
- Golisano’s donation will be distributed over four to five years.
- The funds will support various sectors, including healthcare, education, and animal welfare.
- Each organization will receive unrestricted funds, allowing them to allocate resources as needed.
A Momentous Announcement
During the event, Golisano, visibly moved, shared his philosophy on wealth: "The only wealth you keep is that which you give away." This sentiment resonated deeply with the audience, as he revealed that the donations would range from $250,000 to $20 million for each organization.
Golisano emphasized that this funding is unrestricted, allowing the organizations to decide how best to utilize the resources. He stated, "I hope this unexpected, unrestricted funding helps them build on their successes and broaden their impact."
Beneficiary Organizations
The $360 million donation will benefit a wide array of organizations across different sectors. Here’s a breakdown of some of the key recipients:
Health Organizations
- Rochester Regional Health: $20 million
- Oishei Children’s Hospital: $10 million
- Niagara Falls Medical Center: $10 million
- American Red Cross Rochester: $5 million
Educational Institutions
- Rochester Institute of Technology: $10 million
- Niagara University: $10 million
- Canisius University: $5 million
- Daemen University: $5 million
Disability Services
- Arc of Monroe: $5 million
- Best Buddies WNY: $1 million
- Heritage Christian Services: $5 million
Animal Welfare
- SPCA Serving Erie County: $1.5 million
- Lollypop Farm: $2 million
- Chautauqua County Humane Society: $1.5 million
General Community Support
- Foodlink: $5 million
- Veterans Outreach Center: $2 million
- Child Advocacy Center of Greater Rochester: $5 million
The Impact of Golisano’s Philanthropy
This donation is not just a financial boost; it represents a significant commitment to the communities of Rochester, Buffalo, and Syracuse. Golisano’s previous philanthropic efforts have already made a substantial impact, and this latest gift brings his total lifetime donations to approximately $775 million.
Golisano also announced a $52 million contribution to the Golisano Foundation, which will increase its annual grant-giving capacity from $3 million to $5 million. This move will further enhance the foundation’s ability to support various initiatives, particularly those focused on individuals with intellectual and developmental disabilities.
Conclusion
Tom Golisano’s generous donation is a testament to the power of philanthropy in transforming communities. By providing unrestricted funds to a diverse range of organizations, he is empowering them to make a lasting impact in their respective fields. As Golisano himself stated, "I can’t take it with me," highlighting the importance of giving back while one can.
Sources
- Tom Golisano donates $360M to upstate NY non-profits: The list, Democrat and Chronicle.
- ‘I can’t take it with me’: Tom Golisano gives millions to New York non-profits, WKBW.
- Tom Golisano donates to upstate NY non-profits. See beneficiary list, Democrat and Chronicle.
- Tom Golisano donates $360M to 82 Upstate New York non-profits | Fingerlakes1.com, Fingerlakes1.com.
- Tom Golisano bequeaths $360M to west NY nonprofit organizations, Rochester Business Journal.
