Tuesday 17 December 2013

Harry Rady News – Laying The Foundation For San Diego’s Futur

In San Diego, one family has figured prominently, both in business and philanthropy – the Rady Family.

Through the Rady Family Foundation, with the patriarch Ernest Rady at the helm, the family has made considerable donations to a variety of causes and entrepreneurial endeavors, the most notable of which are the donations to the Rady Children's Hospital, the Rady School of Management and the San Diego Zoo. The foundation's main philosophy is to find worthy causes and to come up with a donation plan that will allow the beneficiaries to thrive on their own and, in turn, help the community.

It was through the efforts of Ernest Rady's son, Harry Rady, that the family was able to set up a $60 million donation to the Rady Children's Hospital in 2006. The donation was used for the various needs of the hospital and its stakeholders including the treatment of youngsters, the operation of the pediatric trauma care facility, and toward pediatric clinical research. In return for the generous donation, the hospital has taken up the Rady family name.

The Rady School of Management reflects the passion for entrepreneurship that Ernest Rady has, having built his own fortune through the various companies he has set up or has been involved with including the American Assets, Inc., Wachovia, the San Diego Sockers and the San Diego Padres, as well as various interests in radio and telecommunications and oil and gas. Through the management school, the Rady family seeks to provide a good headstart for tomorrow's entrepreneurs.

Another notable beneficiary of the Rady family is the San Diego Zoo. Looking to update an outdated exhibit, the zoo has found a benefactor in the Rady Family Foundation which has pledged $10 million to replace the outdated exhibit with Africa Rocks. Africa Rocks is an exhibit that features 50 of the continent's animals, with five exhibits featuring these animals in a virtual habitat that mimics those found in Africa, including the Rady Falls. The 65-foot waterfall named after its benefactor will wow visitors with the way it mimics the natural environment where crocodiles live.

With various philanthropic endeavors attached to the Rady family name, the underlying theme that can be gleaned is the empowerment of the beneficiaries, from businesses to non-profit organizations, to become self-sustaining. Instead of merely receiving a sizeable donation, the recipients are enabled to generate their own resources that will ensure that they grow and thrive without having to completely rely on external sources.

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