SOURCE OF WEALTH: Luminus Management, LS Power Development
FUNDING AREAS: Health & Human Services, Arts & Culture, Jewish Causes, Education & Youth
OVERVIEW: Paul and Jenna Segal conduct their philanthropy through the Paul and Jenna Segal Family Foundation. According to available tax filings, the foundation awarded $458,000 in grants in 2017. The couple’s giving centers around the Northeast United States. Jenna serves on several key boards, which influences the family’s giving.
BACKGROUND: Paul Segal graduated from the Rutgers College of Engineering with a B.S. in biochemical engineering. He began his career at Smith Barney as a generalist in the mergers and acquisitions investment banking group. He joined LS Power in 1998 and founded Luminus Management in 2002, a hedge fund that invests across the capital structure of publicly-traded power, energy, utility and related companies.
ISSUES:
HEALTH & HUMAN SERVICES: The Segals have supported Digestive Disease Research Foundation, Food Allergy Research & Education, The Arnold P. Gold Foundation, which “sustains the commitment of healthcare professionals to provide compassionate, collaborative and scientifically excellent patient care,” and A Better Balance, “an expert legal team fighting to give American workers the time and flexibility they need to care for their families.” Jenna Segal sits on the board of A Better Balance.
ARTS & CULTURE: Jenna Segal runs Segal NYC Productions which develops and produces theater, as well as film, and other media with a focus on women. The couple has supported Women’s Project Theater (Jenna sits on the board), Signature Theater, and Ars Nova, “NYC’s premier hub for emerging artists and new work.”
JEWISH CAUSES: Grantees have included Birthright Israel Foundation, UJA Federation, Congregation Rodeph Shalom, Friends of Rodeph Shalom School, and JCC Manhattan, with which Jenna has been involved.
EDUCATION & YOUTH: Segal supports his alma mater Rutgers University. The family has supported NYU Law School (Segal sits on the advisory board of the Institute of Policy Integrity), Baby2Baby, Weill Cornell Medical College, and Situation Project, which “provides arts-deprived public school students access and exposure to world-class New York City arts and culture experiences.”
LOOKING FORWARD: Segal is still very much engaged in business, so perhaps this family’s philanthropy will deepen down the line. The civically active Jenna Segal should be watched, too.
CONTACT:
The Paul and Jenna Segal Family Foundation does not provide a clear avenue of contact, but below is an address:
Paul and Jenna Segal Family Foundation
1700 Broadway, 35th Fl.
New York City, NY 10019
