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Late San Diego philanthropist Joan B. Kroc
san diego
Joan B. Kroc estate gives $500,000 to Mama’s Kitchen
Gift is the largest Mama’s has ever received
Published Thursday, 29-Jan-2004 in issue 840
Mama’s Kitchen received a $500,000 bequest from the late philanthropist Joan B. Kroc’s estate last week — the single largest gift ever bestowed on Mama’s. Kroc’s bequest will go into Mama’s Promise Fund, an endowment fund recently established by the nonprofit meal-delivery organization.
“We are so thrilled,” said Edith Glassey, director of development at Mama’s Kitchen. “We’re very humbled by her gift and we’re very honored.”
Kroc was first introduced to the organization in 1995 when she attended an event put on by Mama’s at Los Coronado. “Mayor Susan Golding was really instrumental in putting our name in front of Mrs. Kroc, and since that time, the Kitchen has really kept in touch with her, although she wanted her gifts to be anonymous,” Glassey said. “I think that what she knew about the Kitchen at the time really impressed her.”
Kroc contributed regularly to Mama’s from 1995 until her death last year. “I think our continued communication with her was very instrumental in [allowing] for her to decide on Mama’s Kitchen,” Glassey said of the bequest.
Alberto Cortés, Mama’s executive director, said that they had no knowledge of the gift before it was announced.
Mama’s Promise Fund was established in June 2003 to increase the stability of operating funds. All monies deposited into the fund are invested in various capacities. Income generated from the investments is then funneled into Mama’s $1.7 million yearly operating budget.
“Basically, those dollars are invested and the interest earned from those dollars goes into the general fund of the organization, so that we can benefit from the interest created by those dollars over a long period of time, or in perpetuity,” Cortés explained.
He added that Kroc’s gift will have its own name as part of the endowment fund. “This will be called the Joan B. Kroc fund, to honor and acknowledge her gift.”
The endowment, though sizeable, does not ensure the future stability of Mama’s on its own. “It helps,” Cortés said. “It certainly won’t be our sole source of income. An endowment of this size, if you estimate a five-percent return on your investment, you’re maybe looking at about $25,000 a year, of dollars that go in to help support the operation and the execution of the mission.”
Better medical care and new drug therapies that help people with HIV/AIDS to live longer guarantee the continued need for the services Mama’s offers. Mama’s delivers three meals a day to 700 clients, 365 days a year, with 11 staff members and 500-600 volunteers throughout San Diego County.
“In volunteer hours alone, we get about the equivalent of 22 full-time employees in hours per year,” Cortés said. The bequest will ensure that Mama’s does not have a waiting list of clients.
“We are in the league of organizations that are stable, efficient, have been around for a long time, and for her to put us in that family — when someone makes a bequest, you’re considered a family member,” Glassey said. “Most people who put together their will and estate, the first thing [they] think about is family, and the fact that we were one of the twelve [organizations] that she had selected, it really means a lot to the Kitchen. It gives us a stamp of approval, and validates everything that we do and how we’ve done it. It’s an inspiration to us.”
Mama’s has also gotten help from other areas. Part of last year’s annual Tree of Life tree lighting ceremony, held Dec. 1 at the Hillcrest Village Retail Center in conjunction with World AIDS Day, included a five-minute video about Mama’s, created at no fee by Time Warner Cable and Groovy Like A Movie to spread awareness and support for organizations like Mama’s Kitchen and for people with HIV/AIDS.
The video has been broadcast in a series of 30-second public service announcements on cable channels throughout San Diego County. Cortés said that the response from those announcements has been helpful. “It has certainly created greater awareness of our existence and what our mission is and what we do for our community of people that are living with HIV,” he said.
Mama’s has gotten new volunteers and numerous inquiries about volunteering due to the commercial spots.
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