SunAmerica, KB Home founder
2004-08 Giving* $589 million
This year, the Broads announced a $400 million commitment from their foundation to endow the Cambridge (Mass.)-based Broad Institute, making permanent a leading genomics and biomedical research institute. With a previous $200 million investment in the Institute, their total $600 million gift is the largest ever to an academic biomedical research institute. The Broads also recently announced the creation of the Education Innovation Laboratory at Harvard, a new education research and development institute that will “identify and advance ways to improve student achievement in America’s public schools.” The Broads, who own some 800 pieces of contemporary art (plus 1,200 works in The Broad Art Foundation collection), funded a new 60,000-square-foot contemporary art wing at the Los Angeles County Museum of Art (LACMA), which opened this year. In 2007 they gave $26 million to Michigan State University (Mr. Broad’s alma mater) to build The Eli and Edythe Broad Art Museum. Last year the three Broad foundations, which focus on education, science and the arts, as well as funding civic initiatives, merged into two: the Eli and Edythe Broad Foundation and the Broad Art Foundation.
*Based on public records and interviews with donors
Data: BusinessWeek, The Chronicle of Philanthropy and the Center on Philanthropy at Indiana University