Leon Levine Foundation Increases Assets to $2 Billion

News Summary

The Leon Levine Foundation’s assets have surged to $2 billion following the passing of co-founder Leon Levine. This growth enables an increase in annual grant distribution from $34.6 million to $100 million, significantly enhancing support for underserved communities in North Carolina and South Carolina. The foundation’s restructured leadership is focused on strategic grantmaking to address social challenges, with a commitment to impactful solutions, including funding mental health programs. As the second-largest private foundation in North Carolina, it aims to sustain community improvement efforts in line with Levine’s vision.

North Carolina – The Leon Levine Foundation has announced a substantial increase in its assets, reaching $2 billion following the death of its co-founder, Leon Levine, in April 2023. This significant financial growth allows the foundation to ramp up its annual grant distribution to $100 million, a marked rise from the $34.6 million awarded in the fiscal year 2023. The Charlotte Business Journal reported on this development, outlining how the foundation’s financial strategies will enable more extensive support for underserved communities in North Carolina and South Carolina.

The foundation’s previous total assets hovered near $700 million, indicating a remarkable increase in its financial backing. In the 2025 fiscal year alone, the foundation allocated a record $101.7 million in grants, more than doubling the $42.2 million awarded the previous year. While some of these grants are granted as multi-year commitments, leading to fluctuations in grant amounts from year to year, the overall trajectory indicates a proactive approach to philanthropy.

Since the foundation’s inception in 1980, it has contributed a cumulative total of $590 million, with a significant $80 million directed towards Atrium Health, the largest health care provider in North Carolina. The foundation’s focus remains on underserved communities, particularly among Jewish populations in South Carolina and North Carolina.

Under the leadership of CEO Tom Lawrence and board chair Michael Tarwater, the Leon Levine Foundation is undergoing a restructuring to enhance its impact. After Levine’s passing, the foundation has increased its staff size from 15 to 30 and expanded its board from five to nine members. Plans are in place to strategically adjust grantmaking efforts towards innovative and impactful solutions that address current societal challenges, particularly in response to political pressures and funding cuts affecting community support initiatives.

An example of the foundation’s commitment to social improvement is its funding of Kintegra Health’s school mental health program, which aims to enhance mental health services in underserved regions. This initiative aligns with the foundation’s broader mission of using its resources to create measurable social change that benefits the community.

Leon Levine, who founded the Family Dollar discount retail chain in Charlotte in 1959, played a pivotal role in the operational success that led to the foundation’s eventual financial ascent. Family Dollar was sold to Dollar Tree for $9.2 billion in 2015. However, Dollar Tree has faced challenges integrating Family Dollar into its operations, resulting in the latter’s sale earlier this year for approximately $1 billion, significantly lower than its initial acquisition cost.

The Leon Levine Foundation is also noted for its intention to gradually spend down its sizeable assets over the next 50 years, adhering to Levine’s directive. This intentional approach is a part of the foundation’s strategy to ensure that its financial resources effectively support the communities it serves until its closure 50 years after Levine’s death, projected for 2073.

Currently, the Leon Levine Foundation ranks as the second-largest private foundation in North Carolina and one of the top ten in the Southeast. As it evolves, the foundation aims to refine its focus on grantmaking strategies that create significant and sustainable impacts for the communities it serves. By addressing current challenges and leveraging its growing financial footprint, the foundation underscores the legacy of its founder and the enduring commitment to philanthropy and community improvement.

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