On Dec. 31, the Kendeda Fund went out of business. And that’s just what Diana Blank wanted.
Diana Blank, the first wife of the Home Depot co-founder Arthur Blank, spent the last 30 years giving away more than $1 billion to a myriad of nonprofits — especially in Atlanta and Montana — with a focus on the environment, education, the arts, justice and equity.
The Kendeda Fund, which Diana named after her three children – Kenny, Dena and Danielle — pioneered the concept of “trust-based” philanthropy, where the recipient of grants is trusted to invest money in the most effective way possible with minimal oversight from the donor.
The Chronicle of Philanthropy last June wrote an in-depth article on the Kendeda Fund with the headline: “Before McKenzie Scott, there was Diana Blank.” The article referred to McKenzie Scott, the ex-wife of Jeff Bezos, who has given away millions with grantees not having to go through an extensive application process often present at traditional foundations.
Kendeda’s approach to philanthropy was nimble, collaborative and intuitive. Local grantees have described the relationship as a partnership with Kendeda team members asking nonprofits what they needed and then working with them to meet that need.
Kendeda planted seeds of philanthropy as Diana Blank embarked on her journey of “giving while living.” Her eldest daughter, Dena Blank Kimball, joined the ride for the last decade as Kendeda’s executive director, helping map a plan a 10-year-plan to “spend out” all of the Fund’s assets.
“Her basic instincts were driven by curiosity, and then, by compassion,” Dena said of her mother. “I think her curiosity led her to be engaged in the world. She has been good at staying true to her authentic self. Hopefully, this last chapter will give her another chance to do that.”
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