# Cline Family Foundation

Cline Family Foundation is an Endowment / Foundation based in Palm Beach Gardens, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Palm Beach Gardens, United States
- **Region:** North America
- **Address:** Palm Beach Gardens, FL, United States
- **Assets under management:** $40M–$50M (Altss estimate)
- **Website:** theclinefoundation.org

## Regulatory record

- **Reports private funds:** No

## About

The Cline Family Foundation formalizes the philanthropy of the late Chris Cline, the West Virginia entrepreneur who built Foresight Energy into a major Illinois Basin coal producer before selling a majority stake to Murray Energy in 2015 for $1.4B. His daughter Candice Cline Kenan serves as Executive Director, overseeing a grant-making strategy that channels capital toward orthopaedic surgery research, sports medicine programs, and educational access — a focus shaped in part by Cline's own relationship with the Marshall University athletic program and the West Virginia communities where his operating businesses were rooted. The foundation's investment portfolio, managed by CIO Mike Murgio, reflects a diversification away from the fossil-fuel wealth that created it. Confirmed positions include a Fidelity digital-asset vehicle and equity holdings through Fidelity-managed accounts, alongside residential and commercial real estate spanning Palm Beach, the Bahamas, and Nova Scotia. Grant-making concentrates on human services, education, and medical research, with notable commitments to institutions advancing musculoskeletal health. Murgio runs roughly $40M–$50M across a blend of public equities, digital assets, and private real estate. The foundation maintains a lean operational footprint from Palm Beach Gardens, with family members Christopher Logan Cline and Alex Tanner Cline holding officer roles. The late patriarch's legacy remains visible in the foundation's governance structure: three of his four children sit in leadership, and the grant-making priorities mirror the causes Cline supported during his lifetime, including substantial gifts to Marshall University and orthopaedic research centers. The Cline family also controls a portfolio of personal assets — including the Big Grand Cay archipelago in the Bahamas and Cape Breton Island properties — but these sit outside the foundation's formal endowment. What distinguishes this foundation from other single-family philanthropies is the tight coupling of its grant-making thesis to a single medical sub-specialty. Candice Cline Kenan's leadership has steered the foundation toward orthopaedic surgery and sports medicine rather than broad-based charitable giving, creating a focused institution that deploys both financial capital and family conviction into a narrow set of musculoskeletal research priorities. This specificity makes the foundation a concentrated — if modestly sized — funder in a field where few family offices operate with comparable thematic commitment.

## Sectors

- Education
- Healthcare Services
- Real Estate

## People

- Candice Cline Kenan — Executive Director
- Mike Murgio — Chief Investment Officer
- Christopher Logan Cline — Officer

## Questions

### Who runs investment decisions at the Cline Family Foundation?

Mike Murgio serves as Chief Investment Officer, managing an estimated $40M–$50M portfolio across equities, digital assets, and private investments. Murgio also holds a Managing Director role at A&M Private Wealth Partners. The investment function operates separately from the grant-making side, which Candice Cline Kenan directs as Executive Director.

### Is the Cline Family Foundation structured purely for grant-making, or does it also make direct investments?

The foundation operates a dual structure — a grant-making arm focused on orthopaedic surgery, sports medicine, and education alongside an investment portfolio that holds public equities and digital-asset positions through Fidelity. The investment side is managed by CIO Mike Murgio and includes allocations to digital assets and traditional equity accounts, though the primary public identity remains philanthropic.

### How did Chris Cline's death affect the foundation's governance?

Chris Cline died in a July 2019 helicopter crash alongside his daughter Kameron and five others, leaving his remaining three children — Candice, Christopher Logan, and Alex Tanner — as the beneficiaries of his estate and governing officers of the foundation. Candice Cline Kenan emerged as Executive Director, and the foundation has continued its philanthropic operations without public interruption, though the family tragedy undoubtedly shaped the institution's leadership succession.

## Related profiles

- [Adolf Øiens Fond](https://altss.com/profile/adolf-iens-fond)
- [Maltz Family Foundation](https://altss.com/profile/maltz-family-foundation)

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

Canonical page: https://altss.com/profile/cline-family-foundation

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