Chairman Phil Tobin Retires from American Endowment Foundation

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Co-founder of largest independent donor advised fund steps down.

American Endowment Foundation (AEF) today announced that its Chairman, Phil Tobin, has retired and resigned from the organization at age 83. Phil, along with Tom Tobin, President and CEO, founded AEF in 1993 as one of the first independent sponsors of donor advised funds.

Under their leadership, AEF has grown significantly as a leading donor advised fund sponsor in the United States. Assets have grown to over $1 billion while contributing over $400 million in grants to other charities over the last 10 years. According to an October release by the Chronicle of Philanthropy, AEF ranks as the 30th largest public charity in the country and largest in Ohio based on donor contributions in 2015.

Before co-founding AEF, Phil was the Chief Financial Officer of the Cleveland Foundation, the nation’s first community foundation, where he implemented one of the first ever donor advised fund programs. Phil is a graduate of the Wharton School of the University of Pennsylvania, and a co-founder/past President of the Hudson Community Foundation in Hudson, Ohio.

Phil stated that “it has been a privilege to lead AEF and to work with so many caring employees, generous donors, and their trusted advisors. Our efforts to encourage and facilitate charitable giving have resulted in generous support to charities throughout the United States for more than twenty years and continuing as a legacy."

CEO Tom Tobin credits Phil for creating the vision to sustain AEF’s growth and the acceptance of donor advised funds as an important vehicle for philanthropy.    “Phil has demonstrated tireless efforts to promote this simple and meaningful way for donors to support the charities and causes important to them and their families."

About American Endowment Foundation:
AEF is based in Hudson, Ohio and has been the country’s leading independent donor-advised fund sponsor since 1993. Donors contribute cash, stock, and illiquid assets to AEF for maximum tax advantage in support of their individual causes and charities. AEF receives contributions from over 3,300 donors residing throughout every state in the country.

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Eric Kinaitis
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