 Philanthropist Joan Palevsky Leaves $257 Million Bequest, California Community Foundation's Largest Gift to Date
On Monday, October 30, 2006, the California Community Foundation (CCF) announced that the late philanthropist Joan Palevsky left a bequest of over $200 million -- the single largest gift the foundation has received since its establishment in 1915.
Having come from humble beginnings, Joan Palevsky understood the importance of giving back to the community. Despite having been one of the most generous philanthropists supporting causes as diverse as Islamic art to combating homelessness, Ms. Palevsky never sought the lime light.
Born in Omaha, Nebraska and raised in Los Angeles, Ms. Palevsky lived through the Depression, attended Los Angeles High School and became the first in her family to graduate from college. At UCLA, she studied languages, classics and history, and later became a teaching assistant there. Known as an avid reader by family and friends, Ms. Palevsky never lost her passion for education, books and the humanities -- frequently contributing throughout her lifetime to support libraries and professorships.
In addition to its sheer size, this historic gift was significant in many ways.
The gift is unrestricted -- Ms. Palesvky entrusted CCF to put it to good use. The gift also catapults the community foundation's assets to over $1 billion.
Perhaps most importantly, the gift enabled CCF to double its competitive grantmaking to about $20 million a year. The donation established the Joan Palevksy Endowment for the Future of Los Angeles, which will invest in areas that were closest to her heart: civil liberties, civic participation, arts and culture, public education and empowering seniors, women, children and families of underserved communities.
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