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Foster's 60th Birthday Celebration: Giving is a Piece of Cake
To celebrate turning 60, Foster Friess asked his friends to recommend their favorite charities that would get birthday gifts from him. Several weeks before his sixtieth birthday, Foster Friess, Chairman of Jackson, Wyoming based Friess Associates, which manages over $8 billion, including Brandywine Funds, sent out party invitations that included unusual instructions.
The invitees were told Friess would only accept one of three gifts for his birthday: a 25,000 acre cattle ranch, a $10 million Citation Jet, or recommendations for a charitable donation to their favorite organization, provided it fulfilled the spirit of Galatians 6:2 – “Bear ye one another’s burdens, and so fulfill the law of Christ.” The letter also asked guests to write something about their charities.
At the party, Friess would select the most worthy organization of a $60,000 gift - $1000 for each year of his life. “I thought it would be fun to find out what my friends were doing and to help grassroots charities,” he recalls Midway through dinner, Friess told three of the 200 guests they were finalists for the $60,000 gift and invited them to the dais to describe their work with their designated charities.
One finalist, Patty Perkins Andringa of The Boys & Girls Clubs of Greater Washington’s Cal Andringa Educational Assistance Fund says she didn’t worry about winning. The fund helps inner-city youth with everything from buying them shoes to giving out scholarships. Andringa was confident that Friess would give each of the finalists something for their charities, perhaps some consolation prize. Friess was so impressed with the finalists that rather than hand out a single first-place prize, he gave each of the three finalists $60,000 to their charities. He then asked the remaining guests who had submitted entries to open envelopes that were distributed to them.
Berte Hirschfield, a Jackson Hole friend and finalist for the Wind River Health Promotion Program, says, “As people opened their envelopes there were shocked gasps.” Friess had given each of them a $25,000 check, bringing his charitable gift that night to more than $2 million. Mark Shaw, whose $25,000 went to the Evangelistic Association of Russia, an Atlanta-based arts educational group that works with Russian orphanages, and whose budget is only $50,000 says: “This is a miracle, Manna from heaven.” He adds, “In ’99 we reached 60,000 kids. With this gift, we can help 200,000, many of whom are at risk for alcoholism, drug addiction, even suicide.”
The surprises didn’t stop there. Before the evening was over, Andringa received an additional $25,000 to give to The Boys & Girls Clubs of Greater Washington. “He gave away millions that night not in his name, but in his friends’ names. He touched peoples’ lives all over the world without asking anything for himself,” she says. Several months later, Friess was at it again.
When his wife Lynn turned 60 in September, he gave her a motorcycle and – with no advance notice – all the 296 guests at her party received $10,000 checks for charities of their choice. Additionally, as a thank-you to the members of the wait staff for their service, he gave them each $1000 to donate to their favorite charities. Of his generosity, Friess says, “I want to love the unlovely, to do something without any expectation of return.” He wasn’t born into wealth. Growing up poor in northern Wisconsin, things like food and medical care were scarce.
Friess struggled as a financial advisor until the day he went on a business lunch twenty-two years ago with a prospective client with a $3 million portfolio. “This guy was upbeat and happy. I was depressed,” he recalls. “He told me that he had invited Christ to be the CEO of his life and gave me religious tracts.” Out of courtesy to his client, Friess read the literature. While he described himself as unreligious before that time, this event proved to be a transforming moment; he embraced Christianity.
As Brandywine Funds has grown over the years – most recently posting gains of 50.4 percent for the twelve months ending in June 2000 – so has Friess’ largesse. One program Friess started in 1992, “He Is Pleased,” helps the homeless in Wilmington, Delaware, move from the streets to full-time employment through job training and social support. Friess also works with the Renewal Alliance, a group of senators and congressional representatives, to promote social justice through charity, family, church, small business, and community activism.
Copyright 2000
Worth Interactive, Inc.
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Just reaching out to say hello. This is Jim Conlin, I believe you'll remember me from friendships with Mike for about 25 years. I havent seen you in about 15 years, and thought of you when looking for Mike's email address. Since he moved to Maryland, I havent seen too much of him, but heard he was in Kennett Square late last week to see another old friend, Chad Fenstermacher. Hoping to see Mike at the Willowdale Steeplechase in May.
I've been in real estate, selling mostly in Chester County, PA and living near Downingtown with my wife (where Mike thankfully stood in as a groomsman) and two daughters, Genevieve (6), and Cassidy (3).
Just wanted to send my best wishes for your continued sucess. From reading your website, you certainly seem to be very busy.
Best wishes to you and your family in all that you do.
Sincerely,
Jim Conlin
We must be very careful as Christians not to bring glory to ourselves always pointing people to Christ. Non-Christians are watching our every action and word. Humility is a fruit of the spirit Galations 5:22-26.
We must also support those missionaries whose lives are on the line taking the Good News of Christ Jesus to the Muslim world. They are always in danger and with the fall of the dollar, money is tight for their needs. Giving to those things with eternal value should be our first obligations.
Happy New Year,
Kay Luther