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Raskob Foundation for Catholic Activities
The Raskob Foundation for Catholic Activities was founded in 1945 by John J. Raskob and his wife, Helena. Raskob's fortune stemmed from senior financial roles...
Raskob Foundation for Catholic Activities
The Raskob Foundation for Catholic Activities was founded in 1945 by John J. Raskob and his wife, Helena. Raskob's fortune stemmed from senior financial roles at DuPont and General Motors, as well as his role in developing the Empire State Building. The foundation is a private, independent family foundation, and its board remains populated by descendants of the founders, including Chairman Patrick W. McGrory and President Lucia R. Nemeth. The foundation's $170 million portfolio (Altss estimate) blends grantmaking with an investment strategy that prioritizes buyout and credit exposures. The corporate stock and bond portfolios, alongside government obligations, fund grants directed toward Catholic education, social services, and emergency relief. Unlike a pure pass-through vehicle, the foundation's investment posture targets sustained capital growth to secure multi-decade grantmaking capacity. Geographic reach spans North America and concentrated mission territories in Africa and Asia. The foundation operates from a single headquarters in Wilmington, Delaware. In September 2023, the foundation became a signatory to the Catholic Impact Investing Pledge through the Catholic Impact Investing Collaborative, aligning its investment policy with faith-driven outcomes. The investment committee is chaired by family member Molly Harmon. The foundation is a prominent member of FADICA, a network of philanthropies engaged in Catholic activities. The foundation bridges family governance with institutional investment discipline. A distinct structural feature is its dual posture: it operates both as an independent endowment with rigorous buyout allocations and as a networked grantmaker deeply embedded in the Catholic Church's operational ecosystem through FADICA and the Leadership Roundtable. This hybrid structure allows the foundation to influence Church resource management beyond its own balance sheet.
General information
Firm type
Endowment / Foundation
Year founded
1945
Location
Region
North America
Country
United States
City
Wilmington
Corporate office
Wilmington, DE, United States
Principals
Patrick W. McGrory
Chairman
Lucia R. Nemeth
President
Molly Harmon
Investment Committee Chair
Sector focus
Frequently asked questions
Who runs investment decisions at the Raskob Foundation?
Investment decisions are overseen by the Investment Committee, chaired by family member Molly Harmon. The committee governs a portfolio of corporate stocks, corporate bonds, and government obligations. Individual portfolio manager names are not publicly disclosed by the foundation.
Is the Raskob Foundation structured as a single-family foundation or an institutional grantmaker?
It is structured as an independent, private family foundation. While founded by the Raskob family, it operates with a professional governance structure that includes family members in board and committee chair roles, such as Chairman Patrick W. McGrory and President Lucia R. Nemeth.
How does the Raskob Foundation source its grants?
Grants are directed to Catholic Church-related institutions worldwide, focusing on education, social services, health, and emergency relief. The foundation does not accept unsolicited inquiries broadly; it works through established Church networks and collaborates through FADICA and the Leadership Roundtable.
What is the foundation's known posture on faith-aligned investing?
In September 2023, the foundation became a signatory to the Catholic Impact Investing Pledge, indicating a shift toward aligning its investment portfolio with Catholic social teaching. This move integrates faith values with the management of its stock and bond holdings.
Where does the underlying wealth come from?
The wealth originates from John J. Raskob, a financial executive for DuPont and General Motors. He also conceived and financed the construction of the Empire State Building. The foundation was established in 1945 by John and his wife, Helena Raskob.
Does the foundation invest directly in private companies or mainly in public securities?
Its known investment assets include corporate stock, corporate bond, and government obligation portfolios, as well as direct ownership of its headquarters in Wilmington. The core liquid portfolio suggests a focus on public equities and fixed income, though a buyout tag indicates exposure to private market strategies.
How is the Raskob Foundation connected to other Catholic philanthropic networks?
It is a prominent member and partner of FADICA (Foundations and Donors Interested in Catholic Activities), a professional network of philanthropies. It also participates in the Leadership Roundtable, which promotes management best practices within the Church.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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