Harry Rady Online – San Diego, CA

Ernest Rady, the father of Harry Rady of Rady Asset Management, continues a trend begun in the late 1990s of charitable giving, according to Bob Kelly, president of The San Diego Foundation.

The $60 million donation by Ernest Rady creates a new reality for San Diego County as far charitable support is concerned.  “We have jumped into the big leagues of charitable giving,” said Kelly.

According to Donald Fellows of Marts and Lundy, a New Jersey-headquartered fundraising consulting firm to nonprofits, San Diego is finally showing signs of growing up as far as the city’s philanthropic community is concerned.

“It was sort of like San Diego hadn’t grown up yet from a philanthropic standpoint,” said Fellows. “That has clearly changed.”

San Diego is hopeful that additional donations will be forthcoming on the heels of the generous gift of Ernest Rady to the Children’s Hospital and Health Center of San Diego.  The $60 million gift “…really does set a new benchmark, and it gives everybody in the (nonprofit) community more hope,” said Bob Kelly, president and chief executive of The San Diego Foundation, and organization which raises money for a variety of institutions in the San Diego area.

For many years San Diego County has lagged behind other regions as recipients of philanthropic generosity.  Since the late 1990s San Diego has experienced a large increase in the number of donations exceeding $10 million. At the end of the ‘90s San Diego began to benefit from the stock market boom plus many more wealthy people began moving into the area. In addition, the widow of the founder of McDonald’s, Joan Kroc, made an $80 million donation to the San Diego branch of the Salvation Army, which many believe helped turn the tide for philanthropic giving in San Diego.