At A Glance
611 Front St.
San Francisco, CA United States 94111-1963
Telephone: (415) 882-7740
Type of Grantmaker
Grantmaking commenced in 1979 - In 1938, Mr. Koret, together with his wife Stephanie, started an apparel firm that became known as Koret of California, one of the major manufacturers of coordinated sportswear in the country. In 1979, the company was sold to Levi Strauss & Co. for $71 million. Stephanie Koret died in 1978, and her entire estate was left to the foundation. At the encouragement of Tad Taube, a trusted family friend and current Pres., Joseph Koret activated a philanthropic foundation, with Stephanie's portion of the family wealth to benefit the Bay Area communities and Israel In 1987, the foundation received final funding of $83 million from the Joseph Koret 1980 Irrevocable Trust. In addition, the foundation is the ultimate beneficiary of the various Charitable Remainder Unitrusts established by the Joseph Koret 1980 Irrevocable Trust. With a real estate portfolio wisely invested by Tad Taube, today Koret has grown into a philanthropy of more than $400 million