Diversified Financial Services
Company Overview of Koret Foundation
Koret Foundation is a not-for-profit foundation with over $315 million assets under management. The foundation primarily focuses on community development, education, public policy, arts and culture, and youth. It serves the San Francisco Bay Area and Israel. The foundation is based in San Francisco, California.
33 New Montgomery Street
San Francisco, CA 94105-4526
Founded in 1966
Key Executives for Koret Foundation
Director of Finance and Administration
Compensation as of Fiscal Year 2016.
Koret Foundation Key Developments
Joseph Koret Files Suit Against Koret Foundation
Oct 8 14
The widow of Koret Foundation founder Joseph Koret has filed suit against Koret Foundation Board President Tad Taube, accusing him and the Foundation's Board of Directors of conflicts of interest in funding pet projects that include conservative causes in the United States and charities in his native country of Poland. The suit filed October 7, 2014 in San Francisco Superior Court by Mrs. Koret alleges that under Taube's direction the board has ignored the priorities established by her late husband to help the poor and assist Jewish causes in the Bay Area and Israel. Instead, her suit claims, the Koret board is using foundation funds to promote programs closely affiliated with individual board members and is purposely confusing the public by putting signage that prominently features Taube's name alongside the Koret Foundation name on buildings and grants for which the Koret Foundation is the principal funder. "Defendants' duty of loyalty to the Foundation has been corrupted by these directors' close affiliations with many of the Foundation's recent grants, resulting in tens of millions of dollars distributed due to self-interest," according to the lawsuit. The suit demands the removal of board members Tad Taube and his longtime legal counsel Richard L. Greene of Greene Radovsky Maloney Share & Hennigh LLP; board member Anita Friedman, director of Jewish Family and Children's Services; board member Richard Atkinson, former president of the University of California; board member Michael J. Boskin, Senior Fellow at the Hoover Institution; and board member Abraham D. Sofaer, Senior Fellow at the Hoover Institution. The suit calls for their replacement with the appointment of an independent board with a majority of Jewish directors.
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