Judy Faulkner, the CEO of Epic Systems, has recently established the family foundation Roots & Wings, which will be granting around $100 million annually to hundreds of nonprofits. The foundation is run by Faulkner’s youngest daughter, Shana Dall’Osto, who has been overseeing the grant-making efforts focused on early childhood development.
Roots & Wings operates on the principle of trust-based philanthropy, which allows nonprofits to receive unrestricted, multi-year grants with minimal reporting requirements. This approach enables organizations to use the funds in the way they see fit, without restrictive strings attached. The foundation has already given $200 million to various organizations over the past five years, and plans to ramp up its grant-making in the coming years.
Faulkner’s decision to adopt this unique approach to philanthropy is rooted in her own experiences as a software engineer and in Dall’Osto’s work at a literacy nonprofit. The foundation’s focus is on providing children with a strong start in life so they can reach their full potential. Roots & Wings aims to support organizations across the country focused on health, education, and wellbeing of kids and their families.
Despite the foundation’s increasing grant amounts, Roots & Wings will continue to distribute a higher percentage of assets each year compared to most foundations. With an annual distribution of 10% to 15% of total assets, the foundation will continue its giving beyond Faulkner’s lifetime. The organization plans to remain a lean and learning organization that prioritizes listening to the needs of the community.
While some may criticize trust-based philanthropy for lacking strategy and accountability, those who have worked with Roots & Wings, such as Leslie Huber from Way Forward Resources, have noted the effectiveness of the foundation’s approach. Dall’Osto hopes that other funders will follow suit and empower nonprofits to take charge of their work, ultimately benefiting the community and those in need.
Roots & Wings will continue its philanthropic efforts for many years to come, with the goal of giving out $100 million annually within the next five years. By prioritizing the needs of the community and trusting the organizations doing the work, the foundation aims to make a positive impact on the lives of children and families across the country.
