# Baum Family Fund

Baum Family Fund is an Endowment / Foundation based in Deerfield, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Deerfield, United States
- **Region:** North America
- **Address:** Deerfield, IL, United States
- **Founded:** 1981
- **Assets under management:** $47M (Altss estimate)
- **Website:** baumfund.org
- **LinkedIn:** https://www.linkedin.com/company/alvin-h-baum-family-fund

## Regulatory record

- **Reports private funds:** No

## About

The Alvin H. Baum Family Fund was established in 1981, formalizing the philanthropy of Alvin H. Baum and his wife Ann. The wealth originates from Baum's career in investment and real estate. Today, the Fund operates under President Joel M. Friedman, a partner at the accounting firm Warady & Davis LLP, with several family members — including Iris, Ross, and Kevin Friedman — serving on its board. Executive Director Loretta Namovic manages day-to-day operations from the Fund's Deerfield, Illinois office. The Fund maintains a dual mandate, blending grantmaking with a financial investment portfolio. Its assets, estimated at $47M (Altss estimate), are held in a mix of corporate stocks and government obligations alongside direct community grants. Grantmaking is concentrated entirely within Illinois, with a particular focus on workforce development and safe, affordable housing. The Fund participates as a member of several local philanthropic collaboratives, including the Partnership for Safe and Peaceful Communities and Chicago Funders Together to End Homelessness, pooling resources with over 50 other foundations to address regional challenges. The Fund is a lean operation, governed by a board composed of Friedman family members and administered by a small staff. It is a member of Forefront, Illinois's primary network for philanthropic education and advocacy. The investment portfolio, managed alongside its grant commitments, provides the financial base for its annual giving. The Fund's activities are rooted in the Chicago metropolitan area, with no disclosed offices or programming outside Illinois. Structurally, the Baum Family Fund is a traditional endowed foundation, distinct from a single-family office, without separate investment vehicles or co-investment clubs. Its legacy is defined by a single-region focus rather than a global mandate — unusual for an institution of its scale. Succession appears tied to the Friedman family's ongoing board governance, with Joel Friedman at the center of both the Fund's investment and grantmaking strategies.

## Sectors

- Real Estate

## People

- Joel M. Friedman — President
- Loretta Namovic — Executive Director

## Questions

### Does the Baum Family Fund make grants outside of Illinois?

No. All of the Fund's disclosed grantmaking is concentrated in Illinois, with a specific focus on the Chicago area. The Fund's mission statement and all public affiliations, such as the Partnership for Safe and Peaceful Communities and Chicago Funders Together to End Homelessness, confirm a purely local operational footprint.

### Who runs investment decisions at the Fund?

Joel M. Friedman, the Fund's President, is responsible for overseeing investments in addition to his role in setting grantmaking strategy. Friedman is also a partner at Warady & Davis LLP, an accounting and advisory firm. There is no indication of a dedicated internal investment team or an outsourced chief investment officer relationship.

### What is the Fund's known posture on co-investments alongside external partners?

The Baum Family Fund does not participate in co-investments. It operates purely as a grantmaker, deploying funds through contributions to local community organizations, not through equity investments or joint ventures. Its structure as a private foundation, rather than a family office or venture firm, precludes taking direct equity stakes in operating companies.

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/baum-family-fund

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology