Engelstad Foundation

The Engelstad Foundation, a nonprofit 501(c)(3) organization, was established in June 2002 to continue the philanthropic efforts of Ralph Engelstad. It was originally developed with the purpose of promoting medical research, improving the lives of people living with disabilities and creating new possibilities for high-risk individuals. The Engelstad Foundation focuses its efforts on education, healthcare, disabled individuals and childhood issues, among other areas. The foundation controls about $800 million in assets and has given over $500 million in grants, scholarships and donations to a number of nonprofits and partners throughout the United States since its establishment.

History
In 1979, Ralph Engelstad opened the Imperial Palace hotel-casino in Las Vegas, Nevada. He received attention for hiring disabled individuals, which was rare at the time. The Engelstad family continued quietly donating to charities and institutions in communities they had connections to. Before he died in November 2002, Ralph Engelstad put a plan into motion to create a foundation that would allow the assets he acquired to be given back after his death. In 2002, Ralph and Betty Engelstad officially formed the Engelstad Foundation with the goal of continuing Ralph's charitable work.

Since its establishment, the Engelstad Foundation has provided more than $500 million in grants to organizations spanning the states of North Dakota, Nevada, Minnesota, Utah and Mississippi. The Engelstad family has history in the markets that the foundation serves. For example, the foundation holds strong ties to Thief River Falls, Minnesota, where Ralph Engelstad was born. There is a strong presence in North Dakota as well – where Ralph Engelstad graduated from the University of North Dakota and met his wife, Betty, during his time in Grand Forks. The foundation’s ties to Mississippi derive from the 1997 opening of the second Imperial Palace in Biloxi, Mississippi. The foundation is currently based in Las Vegas, Nevada, where Ralph Engelstad built his business as an entrepreneur and where the Engelstad family has lived for many years.

In 2022, the Engelstad Foundation celebrated its 20th anniversary and crossed $500 million in giving, providing more than $523 million in funding to nonprofits throughout the United States.

Leadership
The Engelstad Foundation is currently run by trustees Betty Engelstad, Kris Engelstad and Jeffrey M. Cooper.

Betty Engelstad, widow of Ralph Engelstad, worked in a bank as a young girl which primed her for the budgeting that she would be doing for both her own family and eventually the Engelstad Foundation. Betty prefers to remain out of the public eye when it comes to the foundation’s giving, but her role in staging the creation of the foundation remains evident. Ralph and Betty Engelstad’s daughter, Kris Engelstad, also serves as a trustee for the foundation. In many instances, she is the face of the foundation in the public eye. Jeffrey M. Cooper worked with Ralph Engelstad as his certified public accountant. He also served as treasurer for the Imperial Palace Casino Resort Spa in Biloxi, Mississippi that was owned and operated by Engelstad. Since 2002, his role has also included acting as a trustee on the Engelstad Foundation board.

Erin McGarry, daughter of Kris Engelstad, is the foundation’s chief granting officer, assisting with the foundation’s grant proposal and management process. Sean McGarry, son of Kris Engelstad, serves as the investment director for the organization. He is also the founder of 1930 Capital, a Las Vegas investment firm that sources, executes and manages private equity, real estate and other investments.

Philanthropy
As a foundation that has been granted charitable status, the Engelstad Foundation is required to file IRS 990-PF form annually. In reporting year ending December 2021, the foundation reported total assets of $835,390,513 and net investment income of $81,913,530. The Engelstad Foundation promotes the welfare of others through generous donations to what they believe to be good causes. Donations to organizations focus on various categories including animal compassion, at-risk individuals, education, historical preservation, medical research and support, people with disabilities and veterans.

The extent of the organization’s philanthropic endeavors has led multiple associations to honor the foundation.

Kris Englestad was named the CommonSpirit Philanthropist of the Year at CommonSpirit Health’s 12th annual Philanthropy Summit in February 2023. The Engelstad Foundation was honored as a Candlelighters Sustaining Impact Honoree, receiving the Sustaining Community Award for their investment in changing the lives of those in Southern Nevada March 2023.

Nevada Health and Bioscience Corporation - Kirk Kerkorian School of Medicine
Kris Engelstad, of the Engelstad Foundation, formed a donor development limited liability corporation, the Nevada Health and Bioscience Corporation (NHBC), with several Las Vegas philanthropists including MaryKaye Cashman, of Cashman Equipment; Lindy Schumacher, of the Lincy Institute; and Marianne Johnson, of Boyd Gaming.

Through a public-private partnership with the NHBC, the nonprofit organization managed $120 million in philanthropic donations from the Engelstad Foundation, the Lincy Foundation, the Boyd Family Foundation and Bank of America, as well as a $25 million contribution from the state of Nevada to build the Kirk Kerkorian School of Medicine Building at the University of Nevada, Las Vegas.

The school celebrated the grand opening of the building on Oct. 5, 2023. The building was constructed and delivered under-budget and ahead of deadline.

The Engelstad Foundation donated $15 million to construct the Kirk Kerkorian Medical Educational Building.

Andre Agassi Foundation for Education - THE BIG IDEA CHALLENGE: An Education Innovation Contest
The Andre Agassi Foundation for Education and the Engelstad Foundation partnered to financially back THE BIG IDEA CHALLENGE: An Education Innovation Contest.

In 2022, THE BIG IDEA CHALLENGE was launched as an incubator-type contest that encouraged individuals to submit the creative idea that they believed could transform education in Nevada. The contest awarded grants to three winners to make their ideas a reality. Winners also received assistance from Nevada GrantLab to manage the funding and bring the idea to life.

More than 200 applications for the challenge were accepted from January through March 2022 and the contest awarded a total of $275,000 in grants. Las Vegas high school teacher Ben Nguyen received a $200,000 grant for his "A Platform for the Future" concept that aims to build a platform for localized job shadowing, training, and mentorship. Retired Las Vegas teacher Eleanor Cormier received a $50,000 grant for her Project 300 Early Learning Academy model, an online virtual tutoring program for kindergarteners in urban elementary schools that will aim to strengthen their literacy skills utilizing Common Core State Standards in English language arts. Henderson, Nev. resident Dorothy Blake was awarded a $25,000 grant to expand the Mindful Music Moments program into Nevada by launching a pilot program.