Richard and Alison Ressler
/SOURCE OF WEALTH: CIM Group, Orchard Capital
FUNDING AREAS: Education, Health, Justice
OVERVIEW: Richard and Alison Ressler move their philanthropic contributions through the Ressler Family Foundation. Available tax filings show that the foundation awarded just under $7 million in grants in 2017. The couple prioritizes education, health and justice, and much of their philanthropy remains in the greater Los Angeles area. Richard Ressler is the brother of Antony Ressler, and the brothers support some of the same causes and organizations.
BACKGROUND: Richard Ressler graduated from Brown University and earned J.D. and M.B.A. degrees from Columbia University. Early in his career, he worked at Cravath, Swaine and Moore, specializing in public offerings, private placements, and merger and acquisition transactions. Ressler is a cofounder of both CIM, a real estate investment firm, and Orchard Capital, an investment company. Alison Ressler is also a graduate of Brown and earned a J.D. from Columbia University. She is a partner at the international law firm Sullivan & Cromwell.
ISSUES:
EDUCATION: The Resslers’ education funding has prioritized higher education and Los Angeles-based charter schools. The couple’s alma maters—Brown and Columbia, have each received millions in contributions over the past decade, and Alison Ressler is a member of the corporation of Brown University. Another past higher education grantee is the UCLA’s David Geffen School of Medicine, where the Resslers have supported cancer research. Charter school recipients include KIPP LA and the New Village Girls Academy. The couple has also supported Homeboy Industries, which provides educational services and job training to former gang members in the greater Los Angeles area. Outside of Los Angeles, the Resslers have supported New York Junior Tennis and Learning, which aims to “develop the character of young people through tennis and education for a lifetime of success.”
HEALTH: The Resslers have supported health broadly. Past grantees include the Children's Hospital Los Angeles, FasterCures, the Lupus Foundation of America, the Melanoma Research Alliance and the Painted Turtle, an organization that provides camp experiences for children with serious illnesses. The couple has also funded cancer research at the David Geffen School of Medicine.
JUSTICE: The Resslers, who both hold J.D. degrees, have a strong interest in justice. They have supported the Public Counsel Law Center, a pro bono law firm that offers “legal and social services to abused and abandoned children, homeless families and veterans, senior citizens, victims of consumer fraud and nonprofit organizations serving low-income communities.” Another grantee in this area is Northwestern University’s Center on Wrongful Convictions, which “is at the forefront of the nationwide movement to reform the criminal justice system and is dedicated to identifying and rectifying wrongful convictions and other serious miscarriages of justice.”
LOOKING FORWARD: The Resslers are likely to continue their strong support of their mutual alma maters and organizations operating in the Los Angeles area. It is possible that they will increase their philanthropy in the area of criminal justice reform.
CONTACT:
Ressler Family Foundation
4700 Wilshire Blvd
Los Angeles, CA 90010
