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The Argosy Foundation by Kate Hogan Argosy: A rich supply. The Argosy Foundation: Supplying generous grants to organizations in need. See a connection? The newest philanthropic foundation to hit Milwaukee has a legacy of living up to its name. Created in Boston more than a decade ago, the Argosy Foundation was the brainchild of John Abele, co-founder of the Boston Scientific Corporation, a leading medical device manufacturer. Backed by shares of Boston Scientific stock, the value of the foundation is projected to exceed one billion dollars within the next five to ten years depending on market performance. Throughout the past decade, Argosy has given millions of dollars nationally in grants focused specifically on three areas: education, the arts, and the environment. The foundation has given to some international agencies as well, including the Washington, D.C.-based Women for Women, an organization founded by an Iraqi woman who helps others around the globe start their own businesses through micro-lending and sponsorship. Although John Abele started the foundation, his three children have been active in mobilizing the project in recent years. Most notable are the efforts of son Chris, 37, who decided it was time for Argosy to make the move from Boston to Milwaukee. According to Argosy Chief Operating Officer Jeff Snell, Chris grew to love Milwaukee while working on his undergraduate degree at Lawrence University in Appleton. After returning to Boston to work with Argosy for a while, Chris, who has recently taken over the reins of the foundation, convinced the family that a move to Milwaukee would benefit Argosy’s goals. Once the shift from Boston is complete, as it will most likely be within the next two years, Milwaukee will be home to Argosy’s only office. Since Chief Operating Officer Snell and a handful others have been hired to run the foundation, the roles of the lawyers and accountants who handled Argosy in Boston will slowly diminish as well. Tucked away in an ultra-modern office suite that has just enough space for Snell, Argosy blends in among the new developments of Milwaukee’s up-and-coming Third Ward. The foundation operates almost unbeknownst to area residents – the foundation operates under the city's radar. But surprisingly, that anonymity is exactly what the foundation desires: unlike most foundations, they do not raise money or accept written grant proposals. “If you’re good, we know about you,” says Snell. “The idea of just giving a lot of money away is not attractive to us.” The goals of Argosy grants are to help both new and old recipient agencies to function more effectively and efficiently – “to create best practices,” says Snell. Major players of the foundation – Snell and the Abele family – believe organizations do not need more donations, rather, foundations just need to observe smarter giving.“Doing it better, with more intensity and impact – that’s good philanthropy,” says Snell. And so far, Argosy is raising the bar. The foundation has donated heavily in both Boulder, Colorado, and throughout Vermont, where Chris’s sister Jeneye Bolton, and his brother, Alex, respectively live. According to a February 2003 article in the Milwaukee Journal Sentinel, each of the three Abele children is given a share of the foundation’s funds each year and is allowed to donate to the causes they choose. Jennifer funds environmental and educational organizations, and hopes to possibly open a Boulder Argosy office someday; Alex funds arts organizations such as the Flynn Center for the Performing Arts. Chris has chosen to focus on the Milwaukee arts scene, if for no other reason than that he enjoys it. “He just has a passion for the arts,” says Lacrecia Thompson, director of corporate and foundation relations for the Milwaukee Art Museum.
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