The Reynolds Foundation is a philanthropy with a focus on medical and spinal cord research and treatment, education, and democracy and freedom. 1 It was created by Tim Reynolds, the co-founder of Jane Street Capital, after he suffered a severe spinal cord injury in a car accident and he became an activist for advancement of spinal cord therapies and treatments. 2
The foundation sponsors the ÁNI Art Academies, with art schools in Sri Lanka, Thailand, Anguilla, the Dominican Republic, and the United States. 2
Alvaro Salas-Castro is the president and CEO of the Reynolds Foundation. He is the founder of the Democracy Lab Foundation. 2 The organization’s board of directors includes Jack Dorsey, co-founder and former CEO of X (formerly Twitter). 2
Background
The Reynolds Foundation says it is committed to philanthropy with a focus on medical and spinal cord research and treatment, education, and democracy and freedom. It states that it gives to think tanks, nonprofits, universities, and individuals that focus on these areas. 1
Tim Reynolds, the co-founder of Jane Street Capital, is the co-founder of the Reynolds Foundation, which has also been called the Tim Reynolds Foundation. 2
The Foundation says it specializes in identifying emerging talent and supporting disruptive projects. 3 The group says that rather than merely funding projects, it forges collaborative efforts. 1
Founding
After a car accident, Tim Reynolds suffered a severe spinal cord injury and became an activist for advancement of spinal cord therapies and treatments. This prompted Reynolds and his family to establish what would eventually be known as the Reynolds Foundation. The family first established the Reynolds Family Spine Laboratory at Rutgers University and funded individual research programs for spinal cord injuries. 2
Since appreciation for art played a role in Tim Reynolds’s recovery, he expanded his philanthropic focus to open the ÁNI Art Academies, with art schools in Sri Lanka, Thailand, Anguilla, the Dominican Republic, and the United States to support the careers of artists around the world. 2
The organization also established a Democracy and Freedom initiative in response to the emergence of authoritarian regimes around the world, the impact of the COVID-19 pandemic, the “climate crisis,” and ongoing conflicts in various regions. 2
Notable Grantmaking
In April 2024, the Reynolds Foundation contributed $1 million to OpenSats, a nonprofit group that supports open-source projects in the development of cryptocurrency. 4 Alvaro Salas-Castro, the president and CEO of the Reynolds Foundation, said, “As new supporters of Open Sats, we are deeply appreciative of the opportunity to engage with a community that exemplifies transparency, professionalism, and inclusivity, all while championing the acceleration of freedom. We firmly believe that the process is just as crucial, if not more so, than the outcome.” 5
In 2024, the Reynolds Foundation committed $1.25 million to fund an initiative at the Cornell University Jeb E. Brooks School of Public Policy. This included funding for the launch of the Brooks School Center on Global Democracy. 3
The foundation established the Reynolds Leadership Scholarship to support Master of Public Administration students with a demonstrated record of leadership and passion for promoting democracy and human rights around the world. 3
Reynolds Innovative Spinal Electrical Stimulation program, also known as RISES, is an initiative focused on electrical stimulation research to aid individuals with spinal cord injuries. 6
Leadership
Tim Reynolds is the chairman and founder of the Reynolds Foundation. He is the co-founder of Jane Street Capital. He earned an MBA in Finance, Derivatives, and Marketing from Cornell Johnson Graduate School, and a bachelor’s degree in economics from Claremont McKenna College. 2
Chloe Reynolds is a co-founder of the Reynolds Foundation. She is also a member of the board of directors. 2
Caroline Reynolds is the vice chairwoman and the secretary and treasurer of the board of directors for the Reynolds Foundation. 2
Alvaro Salas-Castro is the president and CEO of the Reynolds Foundation. He is a winner of the Adams Award from Cornell Institute for Public Affairs. He has been a senior management consultant for major companies and has held advisory roles for government agencies, academic institutions, and corporations. He is the founder of the Democracy Lab Foundation (DemoLab) and is the leader of strategy at K Squared Capital. 2
Roberto Artavia is a member of the board of directors for the Reynolds Foundation. He is the president and founder of Roberto Artavia Consultoría Internacional, president of Viva Trust, and president of Fundacion Viva Idea. He is the chairman of the board of directors of INCAE Business School, Fundacion Marviva, Mapfre in Costa Rica, and Fundacion Victoria in Nicaragua. 2
Soumitra Dutta is a board member for the Reynolds Foundation. His career has spanned academia, industry, and international organizations. He is a former dean and professor at Cornell University. Previously, he was chair of the Global Agenda Council on the Future of Jobs and Skills at the World Economic Forum, influencing global strategies for the Fourth Industrial Revolution. 2
Tina Nabatchi is a board member for the Reynolds Foundation. She is the Joseph A. Strasser Endowed Professor of Public Administration at Syracuse University. Her research includes books such as “Public Participation for 21st Century Democracy” and “Collaborative Governance Regimes.” She previously worked with the Indiana Conflict Resolution Institute, the Department of Justice, and the National Institutes of Health. 2
Jack Dorsey is a member of the board of directors for the Reynolds Foundation. He is the co-founder and former CEO of Twitter, a social media platform now known as X. Dorsey also founded Block, Inc., the developer of financial services platform Square. 2
Obi Nwosu is a community development, technology, and financial freedom expert and board member for the Reynolds Foundation. He founded the Coin floor Bitcoin exchange. He is a member of the board of advisors at Gridless Compute. 2
Board of Advisors
The Reynolds Foundation has an eight-member board of advisors: Max Reynolds, Emily Reynolds, Alejandro Bachmann, Céline Assaf, Thomas O’Toole, Marco Salazar, Miles Suter, and Walter Kissling. 2
Max Reynolds is a co-founder of the Reynolds Foundation. 2
Emily Reynolds is a co-founder of the Reynolds Foundation. 2
Alejandro Bachmann has expertise that spans financial and investment planning, wealth transfer, governance, and philanthropy advice. He is a member of the INCAE Business School’s Presidential Advisory Council in its focus on empowering women entrepreneurs. 2
Celine Assaf Boustani is the president of the Human Rights Foundation. 2
Thomas O’Toole is the executive director of public affairs programming at Cornell University’s Jeb E. Brooks School of Public Policy. 2
Marco Salazar is the founder and executive director of the strategic marketing agency LiftBrand. 2
Miles Suter is the chief product development officer at CashApp. 2
Walter Kissling is the CEO and CIO at K Squared Capital. He held jobs with Insignia by KSC Fund LP, Corporacion Rostipollos S.A., and PredictWallStreet. 2
References
- “What We Do.” The Reynolds Foundation. Accessed October 5, 2024. https://www.reynoldsfoundation.com/whatwedo
- “About.” The Reynolds Foundation. Accessed October 5, 2024. https://www.reynoldsfoundation.com/thefoundation
- Morris, Giles. “Reynolds Foundation commits $1.25M to fund Brooks School initiatives.” Cornell Chronicle. May 15, 2024. Accessed October 5, 2024. https://news.cornell.edu/stories/2024/05/reynolds-foundation-commits-125m-fund-brooks-school-initiatives
- “OpenSats receives $1 million for free, open-source software projects.” Philanthropy News Digest. April 28, 2024. Accessed October 5, 2024. https://philanthropynewsdigest.org/news/opensats-receives-1-million-for-free-open-source-software-projects
- Hoffman, Nikolaus. “Reynolds Foundation Donates $1 Million To Fund Bitcoin And Open-source Projects.” Bitcoin Magazine. April 22, 2024. Accessed October 5, 2024. https://bitcoinmagazine.com/business/reynolds-foundation-donates-1-million-to-fund-bitcoin-and-open-source-projects
- “Our Impact.” The Reynolds Foundation. Accessed October 5, 2024. https://www.reynoldsfoundation.com/ourimpact