Louis and Harold Price Foundation

Louis and Harold Price Foundation

The Louis and Harold Price Foundation was established in 1951 by Harold Price and his brother Louis, drawing on wealth created in the food and beverage industry. Today, Harold's daughter Linda Vitti-Herbst chairs the board of trustees, while her stepdaughter Bonnie Vitti serves as president. The foundation operates from its Los Angeles headquarters with additional offices in Louisville, Colorado and a registered New Jersey presence, maintaining a lean staff supported by Exponent Philanthropy membership. The foundation deploys capital across a notably diverse strategy for its size, spanning direct co-investments, buyout funds, distressed debt, early-stage venture (seed through start-up), growth equity, fund-of-funds commitments, natural resources, and timber. Geographic concentration runs across California, New York, and Colorado, where much of its grant-making and local investment activity is focused. Confirmed co-investors in its orbit include Bessemer Trust, which manages a dedicated portfolio for the foundation out of New York. Beyond grant-making, the foundation's board carries deep ties to UCLA Anderson, where trustee Alfred E. Osborne Jr. serves as senior associate dean and faculty director of the Harold and Pauline Price Center for Entrepreneurship and Innovation. The Price Institute for Entrepreneurial Studies further extends the family's legacy around entrepreneurship. The structure blurs the line between a pure grant-maker and an operating entity, as board members balance fiduciary oversight with active engagement in the academic and venture ecosystems linked to the Price name. Structurally, the foundation stands apart from the typical perpetual endowment by retaining a family-dominated board spanning three generations — Linda, her stepdaughter Bonnie, and granddaughter Lisa Beshkov — while integrating an academic trustee (Osborne) and a non-family executive director (Timothy Jones) for day-to-day management. This governance architecture fuses direct family oversight with institutional discipline, preserving the original donor intent around education, health, and social services without locking the portfolio into a static allocation.