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Person

Richard A. Mellon

Location:

Ligonier, PA
Occupation:

Chairman and CEO, Richard King Mellon Foundation (RKMF) and R.K. Mellon Family Foundation

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Richard A. Mellon is chairman and CEO of the Richard King Mellon Foundation (RKMF) and the R.K. Mellon Family Foundation. 1 The RKMF is the largest foundation in southwestern Pennsylvania, and one of the 50 largest in the world. Its 2020 endowment was valued at $3.1 billion. 2 In 2021 it disbursed $152 million in grants and investments. 3

Mellon is the son of Richard P. Mellon and the grandson of Richard King Mellon, the founder of the Richard King Mellon Foundation. 4 As chairman and CEO of the foundation, Mellon is continuing the family philanthropic tradition that has lasted through multiple generations. 5

The ten-year strategic plan for the Richard King Mellon Foundation continues to focus on the original program areas of the economy and well-being of southwestern Pennsylvania and conservation of the nation’s natural resources and adds a new emphasis on social impact. 6

Background

Richard A. Mellon is a great-great grandson of Thomas Mellon, an Irish immigrant who started the Mellon fortune in 1841. Forbes lists the Mellon family as the 28th-richest family in America in 2020 with a net worth of $11.5 billion. The Mellon family’s major source of wealth was banking. 7

Education and Career

Richard A. Mellon graduated from Skidmore College in 1987 with a major in geology and a minor in economics. 8

He was founder and president of RAM Transit, Inc., a trucking and logistics company that he sold in 2012. 9

Mellon has been a trustee for the Richard King Mellon Foundation and the R.K. Mellon Family Foundation since 2005. 10

Effective July 1, 2019, Mellon was named chairman and CEO to succeed the retiring son of Richard King Mellon, Seward Prosser Mellon. 11

Inside Philanthropy has characterized Richard A. Mellon as a “Steward” carrying on the tradition of multi-generational family philanthropy. 12  The Richard King Mellon Foundation is the largest foundation in southwestern Pennsylvania and one of the 50 largest private philanthropies in the world. Its 2020 endowment was valued at $3.1 billion. 13

Funding Priorities

The Richard King Mellon Foundation was founded in 1947 by Mellon’s grandfather, Richard King Mellon. 14 The foundation’s two philanthropic program areas are the economy and well-being of southwestern Pennsylvania and environmental conservation across the United States. 15

As president and CEO of the Richard King Mellon Foundation, Mellon was involved in the development of the foundation’s ten-year strategic plan for 2021 through 2030. The plan identifies a continuing commitment to the original program areas and adds a greater focus on social impact investments through two cross-program initiatives, Social Impact Investments and Organizational Effectiveness. 16

Through the Social Impact Investments program RKMF plans to invest up to $50 million over the next 10 years into for-profit startups that are aimed at addressing societal issues. In January of 2022, RKMF awarded $3.3 million to 13 companies that competed in the first Social Impact Investments Pitch Competition. 17

The Organizational Effectiveness initiative target investments in nonprofits to make improvements in their organizations and in their overall effectiveness. 18

Mellon makes small contributions on an annual basis to Owner-Operator Independent Drivers Association Inc Political Action Committee (OOIDA-PAC). 19

References

  1. “Richard A. Mellon.” Bloomberg. Accessed January 28, 2022. https://www.bloomberg.com/profile/person/17595876
  2. “About.” Richard King Mellon Foundation website. Accessed February 1, 2022. https://www.rkmf.org/pages/about
  3. “RKMF Announces the Winners of its $1 Million Pitch Competition.” Richard King Mellon Foundation website – News. January 26, 2022. Accessed February 2, 2022. https://www.rkmf.org/news_posts/rkmf-announces-the-winners-of-its-1-million-pitch-competition
  4. “The Torch is Passed.” The Pittsburgh Quarterly. June 28, 2019. Accessed January 31, 2022. https://pittsburghquarterly.com/articles/the-torch-is-passed/
  5. “The Most Powerful Heirs in Philanthropy.” Inside Philanthropy. January 19, 2022. Accessed February 2, 2022. https://www.insidephilanthropy.com/home/2022/1/19/the-most-powerful-heirs-in-philanthropy
  6. “Funding Programs.” Richard King Mellon Foundation website. Accessed February 2, 2022. https://www.rkmf.org/pages/funding-programs
  7.  “Billion-Dollar Dynasties: These are the Richest Families in America.” Forbes. December 17, 2020. Accessed February 2, 2022. https://www.forbes.com/sites/kerryadolan/2020/12/17/billion-dollar-dynasties-these-are-the-richest-families-in-america/?sh=710f7a84772c
  8. “Richard A. Mellon Succeeds Seward Prosser Mellon as Board Chairman and CEO of Richard King Mellon Foundation and R.K. Mellon Family Foundation.” PR Newswire. June 25, 2019. Accessed January 28, 2022. https://www.prnewswire.com/news-releases/richard-a-mellon-succeeds-seward-prosser-mellon-as-board-chairman-and-ceo-of-richard-king-mellon-foundation-and-rk-mellon-family-foundation-300874444.html
  9. “Richard A. Mellon Succeeds Seward Prosser Mellon as Board Chairman and CEO of Richard King Mellon Foundation and R.K. Mellon Family Foundation.” PR Newswire. June 25, 2019. Accessed January 28, 2022. https://www.prnewswire.com/news-releases/richard-a-mellon-succeeds-seward-prosser-mellon-as-board-chairman-and-ceo-of-richard-king-mellon-foundation-and-rk-mellon-family-foundation-300874444.html
  10. “Richard A. Mellon Succeeds Seward Prosser Mellon as Board Chairman and CEO of Richard King Mellon Foundation and R.K. Mellon Family Foundation.” PR Newswire. June 25, 2019. Accessed January 28, 2022. https://www.prnewswire.com/news-releases/richard-a-mellon-succeeds-seward-prosser-mellon-as-board-chairman-and-ceo-of-richard-king-mellon-foundation-and-rk-mellon-family-foundation-300874444.html
  11. [1] “Richard A. Mellon Succeeds Seward Prosser Mellon as Board Chairman and CEO of Richard King Mellon Foundation and R.K. Mellon Family Foundation.” PR Newswire. June 25, 2019. Accessed January 28, 2022. https://www.prnewswire.com/news-releases/richard-a-mellon-succeeds-seward-prosser-mellon-as-board-chairman-and-ceo-of-richard-king-mellon-foundation-and-rk-mellon-family-foundation-300874444.html
  12. “The Most Powerful Heirs in Philanthropy.” Inside Philanthropy. January 19, 2022. Accessed February 2, 2022. https://www.insidephilanthropy.com/home/2022/1/19/the-most-powerful-heirs-in-philanthropy
  13. “About.” Richard King Mellon Foundation website. Accessed February 1, 2022. https://www.rkmf.org/pages/about
  14. “History.” Richard King Mellon Foundation – About. Accessed January 29, 2022. https://www.rkmf.org/pages/history
  15. “Investing in the Future of Our Region and Beyond.” Richard King Mellon Foundation website. Accessed February 2, 2022. https://www.rkmf.org/
  16. “Funding Programs.” Richard King Mellon Foundation website. Accessed February 2, 2022. https://www.rkmf.org/pages/funding-programs
  17. “Richard King Mellon Foundation awards $3.39M to winners of its first startup pitch competition.” Pittsburgh Business Times. January 26, 2022. Accessed January 30, 2022. https://www.bizjournals.com/pittsburgh/inno/stories/fundings/2022/01/26/rk-mellon-foundation-pitch-competition-winners.html
  18. “Richard King Mellon Foundation Unveils 10-Year Strategic Plan.” Richard King Mellon website – News. January 27, 2021. Accessed January 29, 2022. https://www.rkmf.org/news_posts/richard-king-mellon-foundation-unveils-10-year-strategic-plan
  19. “Richard A. Mellon.” Federal Election Commission Individual Contributions. Accessed January 28, 2022. https://www.fec.gov/data/receipts/individual-contributions/?contributor_name=Richard+A+Mellon
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