Richard K. and Shirley S. Hemingway Foundation

Investment oversight falls to the foundation's board of trustees, which comprises family members including Richard K. Hemingway (President), Hank Hemingway (Immediate Past President), and trustees Helen Cardon, Henry S. Hemingway, and Jane Mason. The foundation does not disclose a dedicated chief investment officer or external outsourced-CIO relationship, suggesting investment decisions are made collectively by the board with possible input from the family's broader financial relationships, including ties to Wasatch Global Advisors and Zions Bancorporation.

The foundation's endowment originated from Richard K. and Shirley S. Hemingway. Richard Hemingway served as Chairman of Commercial Security Bank, a Utah-based institution that eventually merged into Zions Bancorporation. The family maintains multiple philanthropic vehicles, including the Henry S. and Patrice Hemingway Foundation and the Jeffrey S. and Helen H. Cardon Foundation. Jeffrey Cardon, Richard and Shirley's son-in-law, is the former CEO of Wasatch Global Advisors, a Utah-based asset manager, further embedding the family in the regional financial and philanthropic ecosystem.

The foundation's private-capital strategy includes buyout, venture capital, and fund-of-funds commitments, according to its disclosed investment posture. The portfolio also holds corporate stock, corporate bonds, and government obligations, giving it a hybrid allocation model. With an estimated $20 million in assets, the foundation likely accesses private funds through manager relationships rather than direct company investments, though specific fund names have not been publicly disclosed.

Grantmaking concentrates on organizations in Utah and Idaho, consistent with the foundation's founding mission. The foundation maintains its sole office in Salt Lake City and has not disclosed international or broader national grantmaking programs. Recipient organizations typically align with the founders' values and are selected by the family trustees.

Yes. The foundation operates alongside the Henry S. and Patrice Hemingway Foundation and the Jeffrey S. and Helen H. Cardon Foundation. These entities are listed as co-donors in some philanthropic initiatives, suggesting coordinated giving among branches of the Hemingway family. Millburn & Company, a real estate investment firm, also appears as a co-donor and partner in certain charitable efforts.

The foundation does not publicly disclose its AUM, specific portfolio holdings, or detailed investment performance. Its Form 990-PF filings—available through public record for a private foundation of this type—provide a general breakdown of asset categories and grant recipients, but the foundation does not publish an annual report or maintain a detailed investor-relations presence. The foundation's assets are estimated at roughly $20 million based on public filings.

The foundation appears designed as a multi-generational vehicle, with second- and third-generation family members serving as trustees alongside the founder, Richard K. Hemingway. The existence of multiple sibling foundations and the inclusion of descendants on the board suggests an intention to sustain the giving mandate across generations, though no formal perpetuity statement has been made public.