Welcome to Continuing the Legacy, which chronicles the first years of the Albert and Margaret Alkek Foundation. In this report, we would like to share with you some of the highlights of our initial grants and to give you a glimpse into the life of our founder and his family.

Albert B. Alkek was an astute businessman and – as those fortunate enough to have met him know – possessed a charismatic personality. I admired him for being a man of clear vision and determination. With decades of experience in personal philanthropy, he knew exactly how he wanted to establish his legacy.

Mr. Alkek practiced strategic philanthropy. During his lifetime, he was a careful steward
of his own fortune and carefully selected charitable organizations in the same way that he researched additions to his stock portfolio – by looking for the best return on his investment. When asked for money, he rarely agreed immediately, unless he already knew the organization’s leaders from previous business or social dealings. In those situations he could be very spontaneous with his gifts, sometimes dizzyingly so. He trusted his instincts.

Personal relationships were key to Mr. Alkek’s philanthropic philosophy. His friendship
with the world-renowned Dr. Michael DeBakey led to his involvement with Baylor College
of Medicine and other institutions in the Texas Medical Center. Mr. Alkek’s admiration for
the sacrifice and commitment of the Center’s doctors and leaders developed into close personal friendships. Sharing the entrepreneur’s spirit in pioneering ventures, these individuals described their dreams for the future and Mr. Alkek worked with them to bring their ideas to fruition.

Strategic philanthropy, however, is more than just choosing a worthwhile charity.
It’s also about targeting your gift, within that charity’s overall plan and purpose, so that
it delivers the maximum benefit – such as influencing additional fund raising, attracting
top talent, or building a facility that can then support enhanced and expanded missions.
Mr. Alkek realized that focused, thoughtful investments could be leveraged quickly to achieve greater impact.

To implement his philanthropic vision, Mr. Alkek personally selected executors of his
will who would serve as the Foundation’s original directors. He charged us with establishing the Albert and Margaret Alkek Foundation and stewarding its assets to assure a permanent legacy. Eight of his executors still serve as directors of the Foundation, as does the president of Baylor College of Medicine.

From 1997 through 2004, the Foundation made grant distributions of $70 million as
its asset base grew from $178 million to more than $222 million.

The Foundation’s grants advance Mr. Alkek’s philanthropic vision. They continue programs at institutions he helped build, while starting – and then enriching – worthy new projects that he would have embraced. This report shows the impact that the Foundation’s strategic, targeted giving has had on the Texas Medical Center, as well as other research and medical facilities, the arts, community-based organizations, and schools in the last eight years.

The directors and I are proud to participate in such a noble undertaking. It is both a tremendous responsibility and a great honor to represent the wishes of Mr. Alkek, whose generosity changes lives and betters our world to this day. The Albert and Margaret Alkek Foundation ensures that the work of the Alkek family and the legacy of Albert B. Alkek will continue for generations to come.

Scott B. Seaman
Executive Director