SOURCE OF WEALTH: MSC Direct; private equity
FUNDING AREAS: Jewish Causes, Education & Youth, Health, Arts & Culture
OVERVIEW: Mitchell Jacobson and Kathy Howard-Jacobson move their philanthropy through the Jacobson Family Foundation, which gave away around $3 million in 2017. The Jacobsons steadily support select Jewish organizations. He supports his alma mater NYU. Another interest is health, including cancer research. New York City is a region of giving.
BACKGROUND: Mitchell L. Jacobson graduated from Brandeis University and received a law degree from New York University. He began working for MSC Direct, an office and industrial equipment distributor founded by his father Sidney, in 1976. In 1995, Jacobson took over as CEO and held that position until 2005. He’s an Executive Officer of Central Street Capital, a private equity firm specializing in acquisitions, add-on acquisitions, organic growth, distressed debt, recapitalization of private companies, and management buyouts of public, private, and underperforming companies.
ISSUES:
JEWISH CAUSES: The couple supports Sid Jacobson Jewish Community Center on Long Island, named in honor of Jacobson’s father. In life, Sidney Jacobson was an active philanthropist and gave generously to the UJA-Federation of New York. Kathy is a vice president of the board of Sid Jacobson JCC. Other grantees have included UJA Federation of New York, Friends of Israel Defense Forces, American Friends of Hebrew University, The Jewish Museum, PEF Israel Endowment Funds, and The Shefa School, a Jewish day school in Manhattan.
EDUCATION & YOUTH: Jacobson strongly supports his alma mater NYU School of Law, home to the Jacobson Leadership Program in Law and Business. The couple recently directed a seven-figure gift to NYU via their foundation. Other grantees have included Citizens’ Committee for Children of New York, Prep for Prep, and Harlem Village Academies. These other outfits are supported on a much more modest level.
HEALTH: Sidney Jacobson had cancer and that experience appears to have been a force in some of the family’s giving. Grantees have included New York Presbyterian Fund, which has received particularly strong support of late; American Cancer Society; Susan G. Komen for the Cure; and Lymphoma Research Foundation. Support has gone to American Diabetes Association and George Polli Foundation, which raises money to find a cure for diabetes. Additionally, the Jacobsons support Northwell Health, which was created from the merger of North Shore Health System and LIJ Medical Center. Sidney was heavily involved with the outfit in life.
ARTS & CULTURE: Grantees have included Lincoln Center for the Performing Arts, Norton Museum of Art, Central Park Conservancy, and Aspen Art Museum.
LOOKING FORWARD: Expect the couple’s strong support of Jewish, educational, and health organizations to continue in particular.
CONTACT:
The Jacobson Family Foundation does not provide a clear avenue of contact but below is an address:
Jacobson Family Foundation
c/o Proskauer Rose LLP J Waxenberg
11 Times Square
New York, NY 10036
