Izzo family establishes endowment to support Lansing area causes
EAST LANSING — The Izzo family has broadened its community support efforts in the Lansing-area with a new initiative to keep the family's charitable giving going far into the future.
The Izzo Legacy, the nonprofit organization of the Izzo family, has established an endowment fund with the Capital Region Community Foundation that will go towards supporting mid-Michigan causes.
“Tom and I feel it’s important to give back to our community that has given us so much over the years,” Lupe Izzo, founder of the Izzo Legacy and wife of Tom said in a statement. “Starting the Izzo Legacy with my family has been a dream come true.”
Since its founding in 2019, the organization has raised over $450,000 for various MSU and Lansing-area causes. Organizations that have received funding include the Greater Lansing Food Bank, MSU Safe Place, the Cristo Rey Community Center and the Lansing Promise Program.
Raquel Izzo McDonald, executive director of the Izzo Legacy and daughter of Lupe and Tom, said in the statement that the initiative will extend those efforts far into the future.
“The Izzo Legacy Endowment will ensure that my parents’ commitment to charitable giving will last forever,” she said. “Partnering with the Community Foundation was an easy choice because of its strong connection to the communities and charities we support.”
Laurie Baumer, president of the Capital Region Community Foundation, said the organization maintains over 530 funds that they invest in the market for growth over time. Portions of these earnings are reinvested and other portions are given to the community though grants to nonprofits.
Last year, the Community Foundation received nearly $7 million in donations to new or existing funds and awarded $5.5 million in grants to local organizations. The Izzo family and foundations no longer have ownership over the money they’ve donated but would be able to direct the funding towards their own charitable priorities, Baumer said.
“They want to make an impact today and always forever, not just during their lifetime, and I think that speaks volumes,” Baumer said of the Izzo family. “I think it also sets a wonderful example to the rest of us in the community to think beyond our lifetime.”
“I feel honored on behalf of our foundation that the family trusts the Community Foundation,” she said. “They know that we will always protect their fund so that it lasts forever.”
Baumer said the Community Foundation doesn’t disclose the size of individual endowments but said they range from tens of thousands to millions of dollars.
The Izzo Legacy raises significant funding through the Izzo 5K Run, Walk and Roll event that takes place annually. The event had nearly 5,000 participants in April 2023.
Contact Sheldon Krause at skrause@lsj.com. Follow him on Twitter @sheldonjkrause.
This article originally appeared on Lansing State Journal: Tom Izzo family establishes endowment to support Lansing area causes
