Donor Dossier: A Former Goldman Partner Supports Catholic Outfits and Education

Thomas J. Healey, 73, is one of three principals of Healey Development in Morristown, New Jersey, a family office. Healey spent years at Goldman Sachs, joining the firm in 1985 and making partner in 1988. The Georgetown and Harvard Business School graduate was also assistant secretary of the treasury for domestic finance under then President Ronald Reagan.

Healey has been involved in philanthropy over the years and in 1989, established the Healey Family Foundation, which he runs with his wife Margaret, a psychologist, and family. While the charitable vehicle flies under the radar, with a minimal web presence, Healey Development's website provides some insights into the family's philanthropy. For starters, apart from Healey and Margaret, the couple's son-in-law John C. Hagerty plays a role. The Williams College graduate and Solomon Brothers veteran has been involved with Healey in business for years. In addition, the couple's children, Jeremy and Megan are on the books of the family foundation.

Healey Development also states that its "principals direct their charitable activities through a Private Foundation...," and they focus on these initiatives:

  • Educational opportunities, especially for grades K – 12
  • Improving financial management within the U.S. Catholic church

In terms of education, the Healey family recently gave the lead gift to help create the Healey Family Student Center at Georgetown. The family has also bankrolled Lauinger Library and an endowed professorship at the university. In the most recent fiscal year for which records are available, the Healeys gave some $1.65 million to Georgetown through their foundation. The Healeys have also recently supported various Harvard outfits such as Harvard Business School Fund, Harvard Magazine, and Harvard School of Public Health.

Other recent education grantees include Teach for America, the Peck School, Rosemont College, Fordham University, Delbarton School, 50Can, and Williams College.  Healey has also funded Catholic schools such as St. Pius X Catholic High School, and Cristo Rey New York High School and has written about the importance of these institutions and the need to revamp them so that they run more efficiently: "the system that manages Catholic education has become so outdated and sclerotic that only by tackling a range of fundamental issues can parochial schools hope to thrive again." Healey, in fact, has penned several articles for America, a national Catholic weekly magazine.

The Healey family's support of Catholic institutions doesn't stop at schools, either. Thomas Healey is a director of the National Leadership Roundtable on Church Management, whose mission is "to promote excellence and best practices in the management, finances, and human resource development of the Catholic Church in the U.S. through the greater incorporation of the expertise of the laity." The Healey family gave that outfit some $120,000 in the 2014 fiscal year through their foundation, with similar strong support in other recent years. 

Other grantees include Diocese of Metuchen, Carmelite Sisters of Baltimore, Maryknoll Lay Missioners, Diocese of Paterson, Archdiocese of Newark, Foundations and Donors Interest in Catholic Activities (FADICA), Catholic Charities of Brooklyn and Queens, and RENEW International, which "fosters spiritual renewal in the Catholic tradition by empowering individuals and communities to encounter God in everyday life, deepen and share faith, and connect faith with action."

Apart from these two grantmaking areas, the Healey family through their foundation also earmarks sums for health and for policy outfits. The Healeys have bankrolled policy outfits such as Hoover Institution, Cato Institute, Manhattan Institute for Policy Research, and the Becket Fund for Religious Liberty. Healey, as well, is a senior fellow at Harvard University’s Kennedy School of Government.

Related: Thomas J. Healey