The San Antonio Area Foundation has announced a gift of ownership interests in the Santikos companies, which include multiple theaters and real estate developments.
With the gifts, the foundation will establish a component fund, the John L. Santikos Charitable Foundation, that will award more than $6 million in grants this year, including a $255,000 matching grant to the Big Give S.A., an annual twenty-four hour SAAF-sponsored fundraising event designed to promote charitable giving in south central Texas; $200,000 in support of a range of United Way initiatives; and more than $2 million in support of SAAF's competitive grants program. In addition, the fund will provide unspecified annual support to International Orthodox Christian Charities and Doctors Without Borders. Additional grants will be announced at the end of 2015.
According to the terms of the gift, the companies will remain in operation under SAAF and any profit-generated will be used for a range of charitable purposes, including arts and culture, health and wellness, youth and education, people in need, and parks, libraries and museums.