Hillman Family Foundations to receive $800M from late philanthropist's estate

When Henry Hillman prepared his will, the billionaire philanthropist told estate planners he had two goals: take care of his family and take care of Pittsburgh.

The price of Hillman's posthumous devotion to his hometown of black and gold?

Almost $700 million, local foundation executives announced Thursday.

Nearly a month after Hillman died at age 98, the Henry Hillman Foundations are set to get $800 million from what remains of Hillman's estate, foundation officials said.

Collectively, the gift will nearly triple the value of the nationwide cluster of 18 private grant-making foundations — from $435 million up to an estimated $1.2 billion, according to foundation executives.

About $695 million alone from Hillman's estate will go to the Henry L. Hillman Foundation — the grant-making arm focused on projects to improve communities and foster innovative ideas in greater Pittsburgh.

The boon propels the Pittsburgh-based foundation into the ranks of the region's top funders and will balloon its grantmaking capacity by 125 percent — from $18.2 million last year to more than $41 million, according to initial estimates by Hillman Family Foundations President David K. Roger.

“Henry was committed to Western Pennsylvania,” Roger said. “He believed in the generosity of the people here and wanted to be a part of that.”

Hillman — whose net worth Forbes estimated at about $2.6 billion — began sitting down with foundation officials to discuss ramping up his contributions back in 2013, Roger said.

The windfall means the Henry L. Hillman Foundation not only can dole out more money at a time, but also can take on more promising projects and ideas from Western Pennsylvania, Roger said. For the past few years, the foundation has doled out between $14 million and $19 million in grants to about 80 recipients per year.

“We would absolutely be open to new grantees,” Roger said. He noted the seven-employee foundation arm does not have any imminent plans to increase staffing.

Among its priorities: access to healthy food; maternal and child health care; and innovative solutions to solving social issues.

Grants have ranged from a $150,000 grant in 2015 for the launch of 412 Food Rescue , which works to reduce food waste by picking up and donating surplus food; to a $300,000 grant to help infants with nutritional deficits through the Strip District-based Three Rivers Mothers Milk Bank .

Hillman was especially fond of investing in technology and “smart transportation” initiatives, noted Roger. He pushed the foundation to “try to find opportunities for momentum and leverage” and never shy away from taking risks, Roger said.

Another $105 million from Hillman's estate will go to foundation branches in communities where Hillman's four children and nine grandchildren reside, including New York City, Portland, Ore., Boulder, Colo., Los Angeles, San Francisco and central New Hampshire.

Together, the Hillman Family Foundations have given $430 million to organizations and projects throughout the country since 1951, Roger said. He estimated Hillman gave tens of millions of dollars more in personal contributions.

Hillman gave $10.1 million to the foundation last year alone, Internal Revenue Service records show.

Per Hillman's wishes, more than 90 percent of all the family's grant-making will remain in greater Pittsburgh.

Natasha Lindstrom is a Tribune-Review staff writer. Reach her at 412-380-8514, nlindstrom@tribweb.com or on Twitter @NewsNatasha.