Major Spokane Foundation To Call It Quits This Year

The Leuthold Foundation, one of Spokane’s largest philanthropic organizations, announced Thursday it is going out of business this year and giving most of its money to Foundation Northwest.

Northwest President Peter Jackson said the $5 million gift will help the foundation plant seed money throughout Spokane’s neighborhood groups and other community organizations.

“It will allow us to do more of what we have been doing, but also enable us to branch out a little bit and do some more of the kinds of things we’ve always hoped to do for the community,” he said. “This is a gift of tremendous value.”

Jackson said Foundation Northwest will continue the Leuthold Foundation’s legacy of support of the Spokane Symphony, the Spokane Food Bank and other artistic and charitable organizations.

The Leuthold Foundation, which has about $7.5 million in assets, contributes about $350,000 a year to the community.

The Leuthold family, formerly big in the lumber business, has given more than $6.5 million to Spokane organizations since its private foundation was organized in 1948.

John H. “Sam” Leuthold, foundation president, said its leaders decided it was time to tend to family matters and pass on its philanthropic duties.

He said Foundation Northwest was picked as the primary recipient because of its stability and ability to continue the Leuthold legacy.

“That’s the only place we could put it to be sure that the capital would be preserved into perpetuity,” he said.

Foundation Northwest serves Eastern Washington and North Idaho.

Jackson said grants stemming from the Leuthold gift will all be spent within Spokane County on generally the same projects and organizations the family foundation supported.

, DataTimes