Many well-known asset managers like Greg Mondre of private equity firm Silver Lake Technology Management use their own foundations to dole out their millions to worthy causes. By looking at the 990-PFs of their foundations, we can get some interesting insights into their thinking as far as where they stash their foundations’ cash to earn some nice returns on their investments, enabling them to give away even more.
In Mondre’s case, he added three new funds and Coinbase stock to his foundation’s holdings in 2024.
Background on the Mondre Family Foundation
The Mondre Family Foundation had $51.4 million in assets at the end of the fiscal year -a 226% increase from $15.7 million at the start of the year. It primarily focuses its grant making on philanthropy, voluntarism, private grant making and public. Greg Mondre himself donated $26.1 million worth of publicly traded securities at the end of fiscal 2024.
Only a single grant was listed on the foundation’s 990-PF for 2024. The Mondre Family Foundation gave the Goldman Sachs Philanthropy Fund $2 million for general charitable purposes.
The foundation raked in $13.7 million in capital gains on publicly traded securities in fiscal 2024, on gross sales of $14.4 million against a cost basis of just $713,000 – a gain-to-basis ratio that reflects long-held, highly appreciated positions.
Login required to continue reading.
Setup a free account to get access to this article (no credit card required).
View Full Article
