Lundquists promise $1 million for El Segundo schools
[scrollGallery id = 370]In his final act as chair of the El Segundo Education Foundation, Richard Lundquist announced a $1 million gift to the foundation from him and his wife Melanie.
Lundquist announced the $1 million gift Friday evening during the foundation’s annual dinner auction at Chevron Park.
He said he is stepping down as the board’s chair to make way for “new, more creative leadership.”
It won’t be an easy role to fill. When the Continental Development CEO joined the foundation two decades ago, it was raising $50,000 a year for El Segundo’s high school, middle school and two elementary schools. Last year it raised $750,000.
But to take at least some of the pressure off his as yet, unnamed successor, Lundquist said $250,000 of his $1 million gift would go to the school district’s general fund in the 2012-2013 school year.
The remaining $750,000 will be tied to matching grants over the next three years.
And perhaps, more importantly, Lundquist promised to remain on the ed foundation board to help with fundraising.
For his two decades of service, Lundquist was presented with the foundation’s first annual Ed Award. Along with the award, foundation board member emeritus Ron Swanson presented the always impeccably dressed Lundquist with a bright pink, Hawaiian shirt.
Guests dined and drank on offerings donated by nearly two-dozen local restaurants.
The highlight of the live auction was a dinner for 30, catered by either MB Post or Darren’s restaurant. The dinner will be served on the rooftop patio of the new, soon to be completed Bank of Manhattan branch in downtown Manhattan Beach. Former New York City Opera tenor Dennis McNeil, an El Segundo resident, will sing for the dinner.
Ryan and Kara Baldino bid $3,000 to win the dinner.
The surprise bid of the evening was for a Riviera stand-up paddleboard from Tarsan Stand-up Paddling in Hermosa Beach, donated by South Bay Brokers’ Alex Abad. Swanson, owner of S and S Hardware, drove the bidding up to $2,500 to win the SUP.
For more information about the El Segundo Education Foundation, visit ESEDF.org. ER