SOURCE OF WEALTH: Avenue Capital
FUNDING AREAS: Education & Youth, Health
OVERVIEW: Marc and Cathy Lasry, and their family, move philanthropy through the Lasry Family Foundation. Foundation grantmaking has been rather modest in recent years. Available tax filings indicate that the foundation did not award any grants in 2017 and awarded $250,000 in grants in 2016. Marc steadily supports his alma mater Clark University. The foundation lacks transparency and does not maintain a website, restricting information about grant guidelines.
BACKGROUND: Born in Morocco, Marc Lasry graduated with a B.A. from Clark University in 1981 and a J.D. from New York Law School in 1984. In 1995 he co-founded investment firm Avenue Capital with his sister Sonia. Lasry serves as CEO of the firm, which manages some $10 billion in assets.
ISSUES:
EDUCATION & YOUTH: Lasry graduated Clark University, as did Cathy and Sonia. In 2005, Marc and Cathy Lasry contributed $5 million to Clark University for the construction of the “Cathy ‘83 and Marc ‘81 Lasry Center for Bioscience. The family continues to support their alma mater via their foundation. Marc and Cathy Lasry have also supported UPenn and are UPenn parents. They’ve supported New York University, Leonard N. Stern School of Business, as well.
OTHER: Lasry is a member of the board of trustees of The Mount Sinai Medical Center. He also participates in Portfolios with Purpose Classic Contest competition, a charity stock picking competition with all proceeds going to charity. He is a prominent Clinton and Democratic donor.
LOOKING FORWARD: Lasry is only in his 50s and very much engaged in business. Perhaps foundation giving will ramp up in the coming years.
CONTACT:
The Lasry Family Foundation does not provide a clear avenue for getting in touch with the family but below is an address:
Lasry Family Foundation
399 Park Ave.
New York, NY 10022
(212) 878-3572
