Judy Faulkner, the CEO of Epic Systems, has pledged to give away the majority of her wealth through her family foundation, Roots & Wings, run by her youngest daughter Shana Dall’Osto. The foundation has already given $200 million to various organizations focused on early childhood development and plans to grant around $100 million annually in the future.
Roots & Wings operates on the concept of trust-based philanthropy, where nonprofits receive unrestricted grants with minimal reporting requirements. This approach allows organizations to use the funds as they see fit, avoiding restrictions that can hinder their ability to operate effectively. The foundation aims to support the health, education, and wellbeing of children and their families, believing that a strong start in life can help children reach their full potential.
Faulkner and Dall’Osto’s philanthropic strategy mirrors Faulkner’s unconventional approach to business, where Epic has always developed its own products without outside investment. The foundation’s goal is to empower nonprofits to make decisions about how to best use the grant money, trusting that those organizations are best equipped to determine their needs.
Roots & Wings has already made a significant impact on organizations like the Wisconsin Early Childhood Association, providing flexible funds that allowed them to focus on growth and advocacy efforts. By offering general operating support with no strings attached, the foundation has helped nonprofits like the Wisconsin Early Childhood Association navigate challenges and plan for the future.
The foundation plans to continue its giving beyond Faulkner’s lifetime, distributing more than the minimum IRS requirement of 5% annually. By prioritizing community needs and maintaining a lean organization, Roots & Wings aims to make a lasting impact in the philanthropic sector. Dall’Osto hopes that other funders will follow suit and prioritize trust-based relationships with nonprofits to maximize their impact and help save lives.
Overall, Roots & Wings exemplifies a new approach to philanthropy that emphasizes trust, flexibility, and community empowerment. By prioritizing the needs of nonprofits and allowing them to make decisions about how to best use grant funds, the foundation aims to create lasting change in the areas of health, education, and child wellbeing. With a commitment to giving back and supporting the community, Roots & Wings is set to make a significant impact in the philanthropic sector for years to come.
