# George Family Foundation

George Family Foundation is an Endowment / Foundation based in Minneapolis, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Minneapolis, United States
- **Region:** North America
- **Address:** Minneapolis, MN, United States
- **Founded:** 1994
- **Assets under management:** $68M (Altss estimate)
- **Website:** georgefamilyfoundation.org
- **LinkedIn:** https://www.linkedin.com/company/george-family-foundation

## Regulatory record

- **Reports private funds:** No

## About

Founded in 1994 by former Medtronic CEO Bill George and his wife, integrative health advocate Penny George, the George Family Foundation channels a wealth base built at the helm of one of the world's largest medical-device companies. The Minneapolis-based foundation operates with a tight family governance structure: Penny George serves as board chair, while sons Jeffrey George (Treasurer) and Jonathan George (Director) hold formal oversight roles. The foundation's philanthropic identity centers on fostering wholeness in mind, body, spirit, and community. The foundation's investment strategy spans buyout, distressed debt, growth, mezzanine, secondaries, special situations, and fund-of-funds commitments. Geographic deployment concentrates primarily in Minnesota, with select national programmatic partners. The portfolio includes a position in King Street Global Drawdown Fund II, and the foundation holds direct real estate through its mixed-use headquarters at 1818 Oliver Avenue South. The family's broader capital presence extends through Jeffrey George's vehicle, Maytal Capital, where he serves as Managing Partner. With an estimated $68 million in assets (Altss estimate), the foundation runs with a lean operational footprint from Minneapolis. Bill George maintains deep ties to Harvard Business School as a professor and to the World Economic Forum USA as a trustee. The family's philanthropic architecture is integrated through the George Family Foundation itself, with no separately disclosed charitable subsidiaries. The foundation's programming targets authentic leadership development and integrative medicine, backing initiatives that prioritize sustainable community health outcomes. A distinguishing structural feature is the foundation's hybrid posture: it is neither a pure grant-making charity nor a full-scale family office, yet it directly executes private-market investments while advancing the family's social mission.

## Sectors

- Healthcare Services
- Education

## People

- Penny George — Board Chair
- William W. George — Founder
- Jeffrey George — Treasurer
- Jonathan George — Director

## Questions

### Who controls investment decisions at the George Family Foundation?

The foundation operates under a family-governed board structure. Penny George serves as Board Chair, and sons Jeffrey George (Treasurer) and Jonathan George (Director) hold formal fiduciary roles. Bill George, the founder, remains a guiding influence through his board participation.

### How is the George family wealth managed outside the foundation?

Jeffrey George, the founders' son and foundation treasurer, runs Maytal Capital as Managing Partner. Maytal operates as a separate family investment entity, though its precise mandate and relationship to the foundation's portfolio are not publicly detailed.

### What is the foundation's known posture on co-investments alongside external GPs?

The foundation's strategy includes fund-of-funds and special situations allocations, which can include co-investment rights. A confirmed holding is King Street Global Drawdown Fund II, though the foundation has not publicly specified whether it pursues direct co-investment sleeves alongside such managers.

## Related profiles

- [Aslan Foundation](https://altss.com/profile/aslan-foundation)
- [Harold & Mimi Steinberg Charitable Trust](https://altss.com/profile/harold-mimi-steinberg-charitable-trust)

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Last updated: 2026-08-11T02:43:31.692Z

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

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