S.F. Philanthropists Goldmans’ Fund to Be Split Among Their Childrens’ Foundations

The Richard and Rhoda Goldman Fund, which has disbursed almost $700-million to hundreds of organizations in its 60 years, will close at the end of 2012 and divide its assets among the foundations of the late couple’s children, reports the San Francisco Chronicle.

The fund, which currently has about $280-million, will continue making grants over the next two years, said Amy Lyons, its executive director. At the end of 2012, all remaining assets will be split among foundations run by the Goldman children, John and Douglas Goldman and Susan Gelman.

Richard Goldman, who died in November, and Rhoda Goldman, who died in 1996, were major donors to environmental and Jewish organizations, the arts, and groups that support reproductive health, among other causes.

They were perhaps best known for endowing the Goldman Environmental Prize, awarded annually for grass-roots activism. Winding up the Goldman Fund will not affect the prize, which is run by a separate organization, Ms. Lyons said.

From The Chronicle’s archive: Read an essay by Mr. Goldman explaining why he believed foundations should give away more annually.