Elsewhere online
March 25, 2013

Major Philadelphia Philanthropist Steps Down From Foundation

H.F. "Gerry" Lenfest, a key Philadelphia donor to education, the arts, and programs for disadvantaged youths, has resigned as chairman of his family foundation, setting in motion a series of steps toward winding down the organization, reports The Philadelphia Inquirer.

Keith Leaphart, a Philadelphia osteopath and entrepreneur, will serve out the remaining two years and three months of Mr. Lenfest's term as chairman of the Lenfest Foundation, leading a largely remade eight-member board.

Mr. Lenfest and his wife, Marguerite, have given away more than $1-billion personally and through the foundation since 2000. The 82-year-old communications executive called the move to greater institutional independence "a logical evolution" for the philanthropy, which he has long said would spend down its assets within 10 years of the couple's deaths.