Hartford Business Journal

22 Hartford Business Journal • October 19, 2020 • www.HartfordBusiness.com Here's why these top Hartford area philanthropists donate their time and money By Liese Klein lklein@hartfordbusiness.com G ive — but also get involved — is the motto of two of Hart- ford's most active philanthro- pists, Bob Patricelli and JoAnn Price. Both have taken the rewards of their successful business careers and in- vested them into making the Hartford region a better place, but also have devoted significant time and energy to go beyond writing big checks. "I really feel strongly about being involved and understanding what is happening with people," said Price, co-founder and managing partner of Fairview Capital, a private equity firm with $9.6 billion under management. "If you really take time to understand the work that people are doing … I just don't see how you can not help." Early generosity Price got her start in philanthropy by literally giving away the clothes on her back during a mission trip to Haiti when she was 13. Born to a working-class fam- ily in North Wales, Penn., she had raised the funds for the trip on her own. "When I came back, my mom said, 'Where are all your clothes?' I said, 'I just left them there mom, those people are so poor.' " "Joann, do you realize we are poor?" The teen replied: "Those people are so poor." Price maintained her generous ways as she worked her way through Howard University and took modestly paid positions before she was named president of the National Association of Investment Cos. in 1983. A series of promotions and partnerships led to her role as co-founder of Fairview in 1994. "As time has gone on, as part of building a company, the philanthropic aspect of my personality has contin- ued," Price said. "I'm thankful that I just have the mindset to give or share." She has intensified her philanthropic work in her decades at Fairview, which has grown to become one of the larg- est minority-owned private equity firms in the nation. She has also stoked a passion for community involvement among the firm's employees. "I encourage everyone to give their time and talent," Price said. Learning to listen After a recent stint as chair of the Hartford Foundation for Public Giv- ing, Price has turned her own talents to involvement in grassroots nonprof- its including Hartford Communities That Care, Mothers United Against Violence and the Blue Hills Civic Association. Her advice to budding philanthropists is to learn and listen before jumping into civic efforts. "Whatever your interest is, take some time to really step back and understand what people are doing," Price said. "We read about issues — what we don't do is actually involve ourselves, listen and understand. Talk to the community themselves and hear what they think about the work that you're doing." Focus on leadership In his decades as a philanthropist, Bob Patricelli has focused on building strong community leaders as well as revitalizing Hartford, his hometown. "Just like in business, in the non- profit world and policy world you have to find great leaders," Patricelli said. He has put his resources toward developing those leaders in part by endowing the Patricelli Center for Social Entrepreneurship at Wesleyan University, devoted to "building a community of changemakers." Patricelli traces his idealism to his selection as part of the first class of White House Fellows in 1965, which led him to an early career in policy across three presidential administra- tions. When he returned to Hartford in the 1970s, he rose up the ranks in the insurance industry and then founded, led and eventually sold a se- ries of successful healthcare startups. "I went into private business but with a sense that public policy was really important," Patricelli said. "It's been a lifelong thing as a result of my participation in [the White House Fellows] program." Throughout his career Patricelli has seen the impact of skilled leadership and personal involvement on dif- ficult policy and business issues. His family's work through the Robert and Margaret Patricelli Family Foundation has been shaped by a philosophy of ac- tive giving. He also helped found and co-chaired the Commission on Fiscal Stability and Economic Growth, a CEO-led panel tasked by Gov. Dannel P. Malloy with recommending ways to stimulate the state's economy. "Giving has to be accompanied by participation and activism," Patri- celli said. "Giving is the lesser part of it; what the nonprofit world needs is leadership and advocacy." Fresh talent His own giving includes support for emerging leaders like Kennedy Odede, a Wesleyan graduate who has organized a grassroots commu- nity movement in Nairobi, Kenya. Patricelli also serves on the boards of The Bushnell, Riverfront Recap- ture, Hartford Promise and many other local groups. Educating residents about policy and encouraging involvement is an- other focus of Patricelli's philanthrop- ic efforts. For example, he partnered with Connecticut Public Broadcasting to fund a yearlong series called "Extra Credit" to teach listeners about civics. He has also taken lessons learned on the board of Newman's Own Foundation to encourage Hartford nonprofits to find revenue streams beyond grants. "I tell my nonprofit colleagues it would be great if they had a salad dressing — there could be a lot more of that," he said. "Get engaged, make it happen," Patricelli advised budding philan- thropists. "You can mix business and philanthropy." This story was done with support from the Hartford Foundation for Public Giving. NONPROFIT NOTEBOOK Philanthropists Bob Patricelli and JoAnn Price both believe in active giving. PHOTOS | HBJ FILE

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