The William, Jeff and Jennifer Gross Foundation
ABOUT THE FOUNDATION
Over the past several decades, Bill Gross has donated more than $700 million to charity, of which the current Foundation’s $400 million is assets are a significant part. The Foundation annually gifts over $20 million to philanthropic causes.
Mr. Gross oversees the William, Jeff and Jennifer Gross Family Foundation, which donated $21,450,000 to 28 non-profits in 2018, including Doctors Without Borders and the Children's Hospital of Orange County. Mr. Gross actively visits prospective charitable organizations and is passionate about their work.
The Foundation’s contributions have made a meaningful impact to local communities throughout Southern California and provides financial support to those in need through contributions in three primary areas: Humanitarian Efforts, Education and Healthcare.
Mr. Gross has longed believed in the importance of giving back to the community. While at PIMCO, he founded and provided seed funding for the PIMCO Foundation and required all of the firm’s Managing Directors to contribute at least 1% of their compensation every year to ensure ongoing funding for the Foundation.
Throughout the year, Bill, Jeff and Jennifer research ideas for possible donations. At the Foundation’s annual meeting in October, they present their ideas to the Board and vote on which causes and charities to support. Donation checks are sent to the recipients before year’s end. The Foundation does not accept solicitations or grant requests.
The William, Jeff and Jennifer Gross Family Foundation provides financial support to those in need through contributions in three primary areas: Humanitarian Efforts, Education and Healthcare.
Bloomberg, 03/10/2018, Katya Kazakina
Gross, a bond portfolio manager at Janus Henderson Group Plc, has built and sold several top stamp compilations since he began collecting in 1992. He previously raised $27 million for charity from stamp sales, including Swiss and British treasures. Now he’s unloading the U.S. items, his biggest prize. All proceeds from the auctions will go to charities, Gross has said.
Reuters, 08/05/2018, Elizabeth Dilts and Jennifer Ablan
Gross has sold part of his collection before. Between 2007 and 2014, he sold his non-U.S. stamps for a total of $27 million, money he donated to charities including Doctors Without Borders. The proceeds of this sale will also go to charity, which has yet to be named.
Philanthropy News Digest, 16/05/2015, Staff
Bill and Sue Gross have donated as much as $700 million to charity to date and plan to give away $2 billion more, Bloomberg reports. In an interview on Bloomberg TV, Gross said the $2 billion figure was "staggering, even to me." The founder of global investment management firm PIMCO and his wife pledged in 2013 to give away their fortune while declining to sign the Giving Pledge.
Bloomberg, 12/05/2015, Erik Schatzker and Mary Childs
The bond investor has already given away as much as $700 million and eventually will donate his remaining $2 billion fortune, a figure that’s “staggering, even to me,” Gross said in an interview on Bloomberg Television.
Orange County Register, 10/12/2014, Fred Swegles
One of Orange County’s wealthiest couples is donating $10 million to upgrade the hospital in their hometown. Mission Hospital Laguna Beach plans to use the money from Sue and Bill Gross, which was announced Tuesday, to make comprehensive improvements in its emergency room. Those will include new imaging technologies, enhanced facilities and emergency support services to ensure the facility’s sustainability, the Mission Hospital Foundation said in a news release.
The William, Jeff and Jennifer Gross Family Foundation recognizes the significant humanitarian needs around the world and looks to provide meaningful support in this area. In 2018, the Foundation provided more than $2 million dollars to Doctors Without Borders. Over the past two years, the Foundation has provided $3.5 million to the NY Times Neediest Cases Fund, over $3 million to Action Against Hunger and nearly $2.5 million to the SDSN Association, which looks to provide sustainable development around the world. In 2017, the Foundation gave $2 million to the World Central Kitchen to help feed homeless individuals.
Mr. Gross and the Foundation have worked to improve educational opportunities for students and support teachers across the country. The Foundation provides scholarships to students at Duke University and Saddleback Community College to ensure that more student have access to educational opportunities. In 2018, the Foundation provided more than $1 million to Orange County teachers and $2 million to the Harbor Day Endowment.
The William, Jeff and Jennifer Gross Family Foundation has been instrumental is ensuring the local community has access to a strong healthcare system. The Foundation has funded stem cell research at the University of California at Irvine, hospital and nursing programs throughout the area and built hospital facilities, including a new emergency room at a Laguna Beach hospital.
In 2017, the Foundation donated $4 million to renovate the Mission Hospital Emergency Room and in 2018, contributed $5 million to support the Children’s Hospital of Orange County’s Small Baby Unit.
Outside of Southern California, the Foundation built the “Mercy Ship”, which is an entire hospital ship that travels from port to port throughout Africa, healing patients’ facial tumors, cataracts and other serious ailments. Jennifer Gross has spent several weeks on the ship, providing her direct support to this effort.