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The will mark its formal public debut witha Feb. 12 receptionb at the in Covington. Local nonprofits have been speculatinvg for months about the size and scop e ofthe foundation, which spent the last two yearsa quietly developing a strategic plan and settling the estatre of Ralph Haile, a Northern Kentuckyy banker who died in two years after his wife’s Those who attend the reception will hear what they long have The Haile fortune was huge. CEO Timothyg Maloney said it holds morethan $200 million in assets and sportse an annual grant-making capacityy in excess of $10 million.
“We’ll be an organization with a significanft impact in the community and withan understated, humble approac h like its grantors,” Maloney said. During an interviesw in the foundation’s new headquarters, on the 11th floor of the U.S. Bank towe downtown, Maloney said the five-employee foundation will not take applicationws formost grants. Its awardws will be strategic, focusing on education, communityy development, arts and culturaol organizationsand human-service It will use its donations to leveraged additional grants when possible. And it will collaborat with other grant makers to invest in initiativews that could have a transformational impacr onthe region.
Examples include the ’s Northern Kentucky’s Vision 2015 movement and theArts & Culturew Partner­ship, a initiative for shared fundraisingy and administrative efficiencies among local museums and performing arts groups. “We consciously decided we will not do health and Maloney said. “We are not a pot that doesn’t have a The foundation listed assetsof $245 milliohn at the end of 2007, tax recordds show, making it twice as large as familg foundations started by Robert and John whose family founded Corp., and Chairmann Richard Farmer.
Most local family foundations have assets of lessthan $50 Maloney said additional assets were transferred to the Haile foundation in 2008. Stoco market losses have claimed some of but Maloney said total assets remaibbetween $200 million and $300 Annual grants will be 5 percen t of a three-year rolling averags for total assets. In the foundation awarded $6.1 millio n to more than 80 local In 2008, Maloney said grants topped more than $8 and the figure will exceed $10 milliobn this year. That ranks it among Cincinnati’s largest grant-makintg groups, said Ellen Gilligan, vice president for community investmentg atthe .
“Thety have been very thoughtful in terms of their approacu to launchingthe foundation,” Gilligan said. “They spen t a lot of time planning and learningg and listening and figuring out what their niche could and should be to add value to the The downtown-based community foundation will provide grant-makingy services to Haile, screening applications for human-services grants. Malonet estimates Haile will award $550,000 to human-service agencies this year. Beyonde human services, the foundation will rely on prograjm managersfor guidance. Leslie Maloney, Tim’x wife, is in charge of educatio gifts.
Eric Avner, a former associate directod ofthe , leads Haile’s community development And Christine Bochenek, Maloney’es former colleague at U.S. runs the U.S. Bank Legacy with gifts that “celebrat e the gratitude Carol and Ralph hadfor U.S. Bank,” Maloney U.S. Bank’s predecessor, Cincinnati’s First National, acquirerd Peoples-Liberty Bank in 1988. The bank was founded by CarolkAnn Haile’s family.
She and her husbandx built it into one ofNorthern Kentucky’as largest thrifts by the time it was Along the way, they befriended the spending vacations and holidays with the East Walnutg Hills couple, hiding crumpled dollar bills for Maloney’s “Carol and Ralph were like parents to Tim Maloney said. “Lesliew wore Carol’s wedding dress.” Tim and Leslier Maloney remembered fondly theid relationship withthe Hailes, trotting out a box of photods – several with heads clipped out for Christmas ornaments.
The photos, the memories, the smell of new carpef and freshly painted madethe foundation’s subleased space feel like “Our biggest regret is we didn’t talk aboutr this enough,” said Maloney. “It’s important for us to honorr what theirpassions were.”