Major family foundation moving $25 million endowment to Austin Community Foundation

austin fall volunteering
KDK Harman

After a lengthy period of family discussion and discernment, the KDK-Harman Foundation today announced the transfer of its $25 million endowment into the newly established donor advised fund, entitled the Harman-Mayes-Sooch Family Fund, at the Austin Community Foundation (ACF). After 13 years of service to and investment in the Central Texas community as a private family foundation, the founder and board decided, for a variety of reasons, to partner with ACF.

Janet Harman founded the KDK-Harman Foundation in 2004, naming it in honor of her three children, Kevin, David and Kelly. It was created to support K-12 educational opportunities for economically disadvantaged students and their families. Since 2005, the Foundation has awarded approximately $10.5 million to organizations throughout the Central Texas community that share a similar mission. These organizations do amazing work in the areas of K-12 STEM programs, Out-of-School-Time and Summer education, systems change, and education-focused advocacy.

“Our work has always been rooted in the belief that education is the key for economically disadvantaged children and families to escape poverty and access higher-paying employment opportunities”, said Janet Harman, president and founder of the Foundation. “I am incredibly proud of what we have accomplished at KDK-Harman and humbled by the amount of support we have received from the community over the years. Partnering with and transferring our resources to the Austin Community Foundation is the right move to ensure this important work continues in ways that our entire family can be involved.”

Over the years, the Foundation expanded its services as it pursued a high-engagement model of philanthropy. Services to grantees included consulting in the areas of fund development, volunteer management, communications, and strategic planning, as well as advocacy in an effort to shine a brighter light on the correlation between education and ending the cycle of poverty.

“We could not be more honored by Janet’s and her board’s decision to partner with ACF. Janet has always been a leader in the philanthropic community and this is a transformative gift for ACF,” said Austin Community Foundation CEO Mike Nellis.

“It has been a privilege to found and lead this organization over the last 13 years – one of the most meaningful experiences of my life,” said Harman. “I cannot adequately express my gratitude to my board, staff, volunteers, and countless supporters for their belief in our mission and their generosity of time, money, and wisdom in our shared desire to help others. I’m looking forward to continuing my family’s philanthropic work and investments in Austin and beyond through this new partnership.”

austin fall volunteering
About givingcityaustin 734 Articles
GivingCity is Austin's only cause-focused media company helping people and organizations understand our community and inspiring them to make it better. Online, in print, broadcast and live. Learn more.

1 Comment on Major family foundation moving $25 million endowment to Austin Community Foundation

Comments are closed.