Our History
Dr. and Mrs. Buck are not only responsible for the establishment of the Marin Community Foundation, but their generosity and care for the County has resulted in more than $1 billion being directed towards those who face the greatest challenges.
overview
The Marin Community Foundation (MCF) first opened its doors in January 1987 with an initial responsibility of assuming the role of Distribution Trustee for the Leonard and Beryl Buck Foundation (Buck Trust).
The Buck Trust previously had been administered by the San Francisco Foundation. In 1986, the Superior Court overseeing the probate of Mrs. Buck’s final will accepted the resignation by the San Francisco Foundation of its role as Distribution Trustee, and designated the newly-formed MCF as the Successor Distribution Trustee. Over the intervening years, MCF has evolved into one of the country’s largest community foundations.
background
The shift for the Buck Trust came as a result of a decision arising from a request that the San Francisco Foundation had filed in 1984 asking the Court to alter a key provision of Mrs. Buck’s will—namely that all grants made from the Buck Trust be distributed solely within Marin County.
The San Francisco Foundation had asserted in its filing with the Court that because of the increased value of the Buck Trust and the relative affluence of Marin County compared to surrounding counties, it would be “impracticable, inexpedient and inefficient” to continue to honor that geographic restriction.
In making its case, the San Francisco Foundation appealed to the Court to exercise its “cy pres” authority and allow grant distributions to communities throughout the Bay Area. The filing by the San Francisco Foundation sparked a spirited rebuke by many individuals and groups decrying an attempt to break a central covenant of the will. A complex and contentious trial was underway in the courtroom of Judge Homer B. Thompson, entering its sixth month, when the process turned to talk of settlement. The trial was suspended, and shortly thereafter was concluded, when the parties agreed to settle. The Court issued its Statement of Decision in August 1986. Subsequent actions of the Court followed, including designation of the Marin Community Foundation as the newly designated Distribution Trustee for the Buck Trust, as well as a series of Court Orders that included establishing the role of the Court’s Special Master, and designating three Buck Trust Major Projects.
distribution trustee of the buck trust
At the time of the transfer of assets to MCF in 1987, the Buck Trust market valuation was approximately $450 million.
In the intervening years. the market value of the Trust has grown considerably to a current valuation of over $1 billion. And during those years, the Foundation has distributed over $1 billion in Buck Trust grants to nonprofit charitable organizations and public schools in Marin, touching the lives of thousands of individuals and families.
a new foundation evolves
The creation of MCF as the vehicle for administering the Buck Trust also brought the concurrent status and responsibility, as a community foundation operating under State and Federal regulations, for the Foundation to actively solicit and facilitate the creation of a growing number of additional philanthropic funds.
Started with the legacy of a single family, MCF is now home to over 850 charitable funds established by individuals, families and organizations. These funds, have a current aggregate market valuation of $2 billion. Thus, the total assets of the Foundation are currently valued at approximately $3 billion, making MCF one of the largest community foundations in the world.
As a key metric of impact, the Foundation has distributed a grand total of approximately $2.7 billion in grants to a broad array of charitable and educational endeavors, locally, nationally and internationally, all as a direct result of the generosity of spirit of its many donors.
On March 2, 2016, MCF made a key change to its structure to enable growth, focus, and innovation. To maintain fiduciary oversight of the entire foundation and to help it grow well into the future, MCF appointed a new board of directors. The members of this MCF board are seasoned and respected individuals who have deep roots in the Bay Area and who share a fundamental belief in the power of philanthropy. They have brought expertise and experience to the governance of the organization. Three members of the previous board, which had sole responsibility for the oversight of the Buck Trust, transitioned to the new board in June 2023, resulting in the current 11-person structure
leadership transition
In June 2020, Dr. Thomas Peters, announced his retirement after 22 years at the helm of the Foundation.
He had successfully grown the organization to one of the largest and most active in the country during his tenure, establishing himself as a fierce champion for social justice and community equity along the way.
Following a comprehensive nationwide search, the MCF Board identified a worthy successor to guide the organization into a new era. Rhea Suh is a seasoned philanthropic, environmental and public policy expert. Most recently she had led the National Resources Defense Council, one of the largest nonprofit organizations in the country, and before that, she was the assistant secretary for policy, management, and budget at the U.S. Department of the Interior in the Obama administration.
The organization-wide strategic plan that she launched in early 2022 was the foundation’s first. Its comprehensive, 18-month arc delivered a new vision and mission for MCF and a laser focus on creating impact. New strategic initiatives were introduced in 2023, establishing a new approach to grantmaking and working relationships with nonprofit partners. And new donor offerings are designed to inspire, engage and inform.
The organization is in a superb position for the future and is set to make measurable impact on the challenges the community is facing.
