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Monumental announcement doubles his lifetime giving
Press Release
Tom Golisano, entrepreneur, philanthropist and civic leader, on Tuesday announced an unprecedented and historic series of major awards totaling $360 million to 82 nonprofit organizations in Rochester, Buffalo and Syracuse. This commitment nearly doubles Golisano’s lifetime giving, bringing the total to $775 million, with more to be expected. The announcement was made at the Golisano Institute for Business & Entrepreneurship.
The unrestricted, multiyear awards range from $250,000 to $20 million each, paid over four to five years, spanning health care, education, animal welfare, disability services, and other crucial community needs. Almost all of the organizations who learned that they are receiving a major award have been recipients of prior awards by Golisano and/or the Golisano Foundation.
This significant financial commitment represents support for a diverse range of causes, all of which are meaningful to Tom and follow suit with prior awards given. Awards received may be used at each organization’s discretion.
Capping the monumental nature of this initiative, Golisano is also making a transformative $52 million award to the Golisano Foundation by increasing the total investment assets to $120 million. This infusion of funding will increase the Golisano Foundation’s giving from approximately $3 to more than $5 million annually, allowing even more opportunities for new and current organizations to access crucial grant funding that falls within the foundation’s established mission.
“I’m thrilled to provide support to the upstate New York community, to the region where I built my life and my business,” Golisano said. “I know that there are many organizations doing great work, and understand that running a nonprofit is not easy – facing both opportunities and challenges, like raising money. These awards are the result of relationships I’ve formed over the years. I am impressed with these organizations’ dedication and innovation. It is extremely rewarding to see what they have been able to accomplish with my financial support over the years. I hope this unexpected, unrestricted funding helps them build on their successes and broaden their impact.
“One of my favorite sayings is ‘The only wealth you keep is that which you give away,’ and I’m so lucky to be able to live that out. The success of Paychex and the hard work of the employees there are ultimately what makes these donations possible, and I am beyond grateful that I have the ability to do so. I look forward to seeing how this will be used to strengthen their organizations and better the communities they serve.”
The $360 million commitment brings Golisano’s overall philanthropy to $775 million. This includes more than $41 million in grants made by the Golisano Foundation, which he founded in 1985, primarily to organizations devoted to supporting people with intellectual and developmental disabilities (IDD). It also helps animal welfare organizations through Bailey and Friends, an initiative of the Golisano Foundation founded in honor of Golisano’s two dogs, both of whom were named Bailey.
"We encourage nonprofit organizations to visit our website to learn more about Tom's personal giving and the foundation's mission,” said Erica Dayton, executive director of the Golisano Foundation. “We look forward to the new influx of agencies we'll be introduced to through the widespread news of Tom’s most recent giving. Understanding the needs of the communities we support and the organizations that devote their expertise to serving them is a constantly evolving process. We are always looking to learn more and determine how we can be supportive with the resources available."
This announcement follows Golisano’s June commitment of $50 million to the University of Rochester Medical Center to establish the Golisano Intellectual and Development Disabilities Institute – his largest single gift to date.
$360 million in gifts to 82 organizations
Gifts by region
•Rochester – $201 million
•Buffalo – $66.5 million
•Syracuse – $40.5 million
•$52 million to the Golisano Foundation, which serves the Rochester, Buffalo and Syracuse regions, and Southwest Florida
Community – 8 organizations – $25 million
Education – 16 organizations – $86 million
Health – 9 organizations – $69 million
Intellectual & developmental disabilities (IDD) – 26 organizations – $104 million
Animal welfare – 23 organizations – $24 million
More about Tom Golisano and the Golisano Foundation
Tom Golisano – entrepreneur, philanthropist and civic leader – is the founder of Paychex Inc., the nation’s largest human resource company for small- to medium-sized businesses, providing integrated human capital management solutions for payroll, benefits, human resources, and insurance services for more than 745,000 clients in the U.S. and Europe.
Golisano’s vision, perseverance and action have left an indelible mark on a broad spectrum of issues that touch our lives – in business, health care, education, voter policies, politics, and tax reform. His continuing investments are helping to advance entrepreneurship through the 2023 establishment of the Golisano Institute for Business & Entrepreneurship, as well as driving the success of numerous businesses and start-ups.
His philanthropic contributions to hospitals – including three children’s hospitals that bear his name – and numerous educational institutions, his foundation, and other organizations – now exceed $775 million. He has dedicated more than $145 million to advancing inclusive health around the world, helping to close the significant gap in access to care for people with intellectual disabilities.
A fierce advocate for dignity and inclusion, in 1985, Golisano applied his pioneering spirit to establish the Golisano Foundation to make the world a better place for people with intellectual and developmental disabilities. With more than $60 million in gross assets, it is one of the largest private foundations in the U.S. devoted to supporting programs for people with intellectual and developmental disabilities, awarding about $3 million annually to nonprofit organizations in Western New York and Southwest Florida.
Golisano is the author of two books, “Built Not Born,” a bestseller, and “The Italian Kid Did It.” He is the former owner of the Buffalo Sabres and is listed on the Forbes 400.