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Skip Viragh Foundation Inc

Annual Giving
$35.0M
Grant Range
$25K - $8.2M

Skip Viragh Foundation Inc

Quick Stats

  • Annual Giving: $35,000,000 (2023)
  • Success Rate: Not applicable (invitation only)
  • Decision Time: Not publicly disclosed
  • Grant Range: $25,000 - $8,200,000
  • Median Grant: $245,000
  • Geographic Focus: National, with emphasis on Nevada and Maryland
  • Total Assets: $217,000,000

Contact Details

Address: 316 California Avenue, Suite 448, Reno, NV 89509

Key Personnel:

  • Mark S. Viragh, President
  • Roger E. Young, Vice President
  • Katherine A. Viragh, Secretary

Note: The foundation does not accept unsolicited requests for funds and only makes contributions to preselected charitable organizations.

Overview

Established in 2007, the Skip Viragh Foundation honors the legacy of Albert P. "Skip" Viragh, an entrepreneurial investment fund innovator who founded Rydex Funds and was recognized as one of the 30 most influential individuals in financial services from 1980-2010. Skip died of pancreatic cancer in December 2003 at age 62. The foundation, managed by Skip's siblings Mark and Katherine Viragh along with Roger Young, operates with assets of $217 million and distributed approximately $35 million across 46 grants in 2023. The foundation's mission centers on healthcare (particularly cancer research), education (especially Catholic schools), homelessness services, military support, and youth development. The Viragh family's total philanthropic commitment has exceeded $70 million to pancreatic cancer research alone, making them one of the most significant donors in this field. In 2009, Skip Viragh was posthumously named one of America's Top Donors by The Chronicle of Philanthropy.

Funding Priorities

Grant Programs

The foundation operates through trustee-directed grantmaking rather than formal application programs. Recent grants demonstrate the following funding tiers:

  • Major Institutional Grants: $2,000,000 - $8,200,000 (flagship partnerships with established organizations)
  • Significant Program Support: $500,000 - $2,000,000 (substantial multi-year or transformational gifts)
  • Standard Grants: $100,000 - $500,000 (core operating support or specific initiatives)
  • Smaller Awards: $25,000 - $100,000 (targeted projects or newer relationships)

The median grant size is $245,000, indicating the foundation's preference for meaningful, substantial investments in organizations rather than small, scattered donations.

Priority Areas

Cancer Research and Treatment (Highest Priority):

  • Pancreatic cancer research and patient support
  • Cancer treatment facilities and programs
  • Medical research institutions
  • The Viragh family has committed over $70 million to the Pancreatic Cancer Action Network (PanCAN)

Homelessness and Housing:

  • Housing development and services
  • Homeless shelters and transitional programs
  • Organizations serving homeless populations
  • Recent major grant: $8.2 million to Helping Up Mission

Healthcare Access:

  • Community health centers
  • Healthcare for underserved populations
  • Medical services for vulnerable communities
  • Recent grant: $2.5 million to Northern Nevada HOPES

Catholic Education:

  • Cristo Rey Network schools
  • Catholic preparatory schools
  • Educational institutions with faith-based missions
  • Chaminade College Preparatory School (Skip's alma mater)

Military and Veterans Support:

  • TAPS (Tragedy Assistance Program for Survivors)
  • Injured Marine Semper Fi Fund
  • Organizations supporting military families

Youth Development:

  • Boys & Girls Clubs
  • Youth mentorship programs
  • Children's services organizations
  • Programs serving at-risk youth

What They Don't Fund

While not explicitly documented, the foundation's grantmaking pattern shows:

  • Does not support individual requests or scholarships
  • Does not fund organizations outside their preselected portfolio
  • Limited international grantmaking (focus is US-based)
  • No evidence of arts/culture funding (despite Skip Viragh Center for the Arts named in his honor, this was funded separately)

Governance and Leadership

Mark S. Viragh, President - Skip's brother, co-manages the foundation with 30 hours per week commitment. Mark spoke at the opening of the Skip Viragh Outpatient Cancer Building at Johns Hopkins, stating the family's commitment to honoring Skip's legacy through strategic philanthropy. The Viragh brothers collectively spent 24 years at Chaminade Catholic preparatory school in St. Louis.

Katherine A. Viragh, Secretary - Skip's sister, actively involved in foundation governance with 30 hours per week commitment. Katherine attended the dedication of the Skip Viragh Outpatient Cancer Building at Johns Hopkins and has been instrumental in continuing the family's philanthropic vision.

Roger E. Young, Vice President - Works 30 hours per week managing foundation operations and strategy alongside the Viragh siblings.

The leadership team's compensation ($100,000 each) reflects significant time commitment to thoughtful, strategic grantmaking. The foundation operates with a family governance model, with Skip's siblings ensuring grants align with his values of entrepreneurship, faith, education, and compassionate service to those facing health challenges.

Application Process & Timeline

How to Apply

The Skip Viragh Foundation does not have a public application process. According to their official policy, the foundation "only makes contributions to preselected charitable organizations and does not accept unsolicited requests for funds."

Grants are awarded through trustee discretion, with the board (Mark Viragh, Katherine Viragh, and Roger Young) identifying and selecting beneficiary organizations based on alignment with the foundation's mission and Skip Viragh's legacy.

Decision Timeline

Not applicable for unsolicited applications. The foundation makes grantmaking decisions internally on a rolling basis throughout the year, as evidenced by their 46 grants distributed in 2023.

Success Rates

Not applicable. The foundation operates on an invitation-only basis with preselected organizations.

Reapplication Policy

Not publicly disclosed. Organizations currently in the foundation's portfolio may receive renewed or continued support based on trustee decisions and program outcomes.

Application Success Factors

Since the Skip Viragh Foundation does not accept unsolicited applications, traditional application success factors do not apply. However, analysis of their grantmaking reveals the organizations most likely to receive consideration share these characteristics:

Mission Alignment with Skip Viragh's Legacy: Organizations that align with Skip's personal story resonate strongly. Skip overcame bankruptcy at age 44 to build Rydex Funds into a $10 billion enterprise by age 62, demonstrating resilience and innovation. His battle with pancreatic cancer from 2002-2003 deeply shaped the foundation's focus. Mark Viragh noted at a dedication ceremony that Skip "chose to give resources" to institutions that matched his values of perseverance, faith, and service.

Established Track Record and Scale: The foundation's grants range from $25,000 to $8.2 million with a median of $245,000, indicating preference for established institutions capable of managing significant funds. Recent major recipients include:

  • Helping Up Mission: $8.2 million (homelessness services)
  • Pancreatic Cancer Action Network: $6.9 million (cancer research)
  • Northern Nevada HOPES: $2.5 million (community healthcare)

Connection to Nevada or Maryland: With headquarters in Reno, Nevada, and Skip's professional base in Rockville, Maryland, the foundation shows geographic affinity for both states. Johns Hopkins (Maryland) has received over $65 million from the Viragh family, and Nevada organizations like Northern Nevada HOPES receive substantial support.

Catholic Educational Institutions: The Viragh family's deep connection to Catholic education, particularly Chaminade College Preparatory School where the brothers spent 24 combined years, makes Cristo Rey Network schools and similar institutions strong candidates for support.

Entrepreneurial and Faith-Based Approach: Organizations demonstrating innovation, calculated risk-taking, and faith-based service align with Skip's personal philosophy. Skip was described as "entrepreneurial, driven, and a bit contrarian" who valued "pushing the envelope, innovating and taking risks."

Key Takeaways for Grant Writers

  • This foundation does not accept unsolicited applications - there is no traditional grant writing opportunity. Organizations cannot submit proposals or letters of inquiry.

  • Relationship-driven grantmaking - All grants flow from trustee identification of organizations that align with Skip Viragh's legacy of entrepreneurship, faith, resilience, and compassionate service.

  • Pancreatic cancer research receives extraordinary support - The Viragh family has committed over $70 million to PanCAN alone, making this the foundation's signature cause. Organizations in this space have received transformational multi-million dollar gifts.

  • Large grant sizes indicate capacity requirements - With a median grant of $245,000 and awards up to $8.2 million, the foundation seeks established organizations with proven ability to manage substantial funding effectively.

  • Geographic focus on Nevada and Maryland - While national in scope, the foundation shows strong affinity for organizations in Reno, NV (headquarters) and Maryland (Skip's professional base), particularly Johns Hopkins.

  • Multi-year commitment potential - The Viragh family's sustained support to organizations like PanCAN (multiple gifts from 2004-2023) suggests they build long-term partnerships rather than one-time grants.

  • Faith-based and Catholic institutions align with family values - Catholic schools, particularly those in the Cristo Rey Network and institutions like Chaminade, receive consistent support reflecting the family's educational background and values.

References

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