Raskob Foundation

The foundation operates with a family-led governance structure. Patrick W. McGrory, a Raskob descendant, serves as Chair, while Noelle Robinson acts as President. Trustee Kerry A. Robinson brings additional leadership in Catholic philanthropy. The foundation does not publicly detail a separate investment committee, and its grantmaking decisions appear to flow through this compact board and executive structure rather than a large professionalized staff.

The endowment traces to John J. Raskob (1879-1950), a financier who served as CFO of both DuPont and General Motors. He was a principal figure in the early 20th-century American industrial economy and personally directed the financing and construction of the Empire State Building in New York. He and his wife Helena established the foundation in 1945, endowing it with the fortune accumulated across those ventures.

The foundation's benefactor, John J. Raskob, was the driving force behind the Empire State Building's construction. He organized the financing, assembled the land, and oversaw the project as president of Empire State, Inc. The building itself is not a foundation asset — it was sold by the Raskob interests in 1952, two years after his death — but the wealth generated from that and his other ventures forms the basis of the foundation's endowment.

The foundation itself is a grantmaking entity, not an operating business. There is a related but distinct philanthropic vehicle called the Bill Raskob Foundation Inc. The family also holds commercial real estate, including the William Raskob House in Wilmington, Delaware, though these assets are separate from the foundation's endowment corpus. Patrick W. McGrory's role at Liberty Point Advisors represents a distinct professional activity outside the foundation.

Grantmaking is concentrated on Catholic and broader charitable initiatives, with a focus on education, healthcare, and church ministries. The foundation is a long-standing member of FADICA, the network of Catholic philanthropies, which provides shared due-diligence and co-funding pathways. Its historical giving footprint is concentrated in the Mid-Atlantic and Northeast United States, reflecting the Raskob family's geographic roots in Delaware and New York.

The foundation does not disclose its endowment asset allocation or investment policy statement. As a private foundation, it is not subject to FOIA and has historically maintained minimal public reporting beyond its IRS Form 990-PF filings. What is observable is a posture of steady grant distribution rather than aggressive capital deployment into venture, private equity, or direct investments — consistent with a mature foundation preserving intergenerational purchasing power.

The foundation remains tightly held by descendants of John J. and Helena Raskob. Three named family members hold formal leadership roles as of the most recent public records: Noelle Robinson (President), Patrick W. McGrory (Chair), and Kerry A. Robinson (Trustee). This structure — a third and fourth generation governing board with direct decision-making authority — is typical of single-family foundations that have not professionalized into a large staff or outsourced investment office model.