Greater Cincinnati Foundation CEO Matthew Randazzo: Living proof that philanthropy works

Matthew Randazzo is the president and CEO of the Greater Cincinnati Foundation. With its donors, this organization awarded $149 million last year, and $1.69 billion since its founding in 1963. That’s billion, with a “B.”

Randazzo, 46, has spent his entire career trying to make the world a better place. But not because he was born with a silver spoon and thought it was his responsibility to help. No, it’s not like that at all. Randazzo grew up hard, and it was philanthropy that came to him as a child. He has been paying it back ever since. 

Randazzo was the only child of his parents, who married far too young. He describes it as “a very challenging household.” There was drug abuse and violence at home, and never enough money. When he was in kindergarten, he went to live with his grandparents. He stayed with them for three years. That did not feel like philanthropy. It just felt like family. 

Eventually, his parents got their feet on the ground enough for him to move back with them in an apartment outside of Detroit. But things were always lean. “My parents could afford the basic necessities, but that was it. And not always.”

Randazzo worked four days a week in high school to help, but there was never enough. Then another family stepped in to help and changed the fortunes of his life. 

The family’s landlords, Wayne and Theresa Raymond, were a Jewish couple who owned some apartment buildings. When times were tough, the Raymonds let his parents pay the rent late or in installments. Randazzo knows now that it was the Raymonds who went Christmas shopping for him, and gave the presents to his parents so they could put them under the tree as their own. 

And the giving continued. When his father left the marriage, Randazzo’s mom was cleaning houses and trying to make ends meet. The Raymonds got her involved with Jewish Vocational Services – now the Gesher Human Services – in a program for “abandoned housewives.” The program gave her clothes for job interviews and taught her the skills necessary to find employment.

That training landed her a job at McKesson Corporation, a pharmaceutical and medical supplies company. It was her first real career opportunity and she thrived. Later, it was a McKesson scholarship program for the children of employees that allowed Randazzo to go to college – the first in his family to ever go. 

Breaking the poverty cycle

So a family completely unrelated to Randazzo helped his parents find ways to pay the rent and then got his mother involved in a vocational program. The vocational program helped his mother find a job at what has become a major medical supplies company. The medical supplies company gave him a scholarship that made college possible. 

“That one program broke generations of poverty for my family,” Randazzo said. “I learned from that family that there are so many ways you can help.” 

Randazzo’s experience taught him how easy it is for people to fall into financial trouble and how a few acts of strategic help can make a radical difference. It also gave him a better understanding of people who give help and people who need help. “You don’t have to live in poverty to get it,” Randazzo said. “But it is my superpower.”

Randazzo was not hired just because he is an empath. Before coming to Cincinnati with his wife and son, he was CEO of The Dallas Foundation, CEO of the National Math and Science Initiative, and CEO and founder of Choose to Succeed, among other stops. 

While at The Dallas Foundation, Randazzo achieved record growth in assets at the foundation as well as annual contributions. He doubled annual grantmaking. All of this mattered when the Greater Cincinnati Foundation was looking for a new leader in 2023. The search was led by George Vincent, who was chair of the GCF Governing Board and who led the search committee. 

Learning what people need

“Matthew stood out for his involvement in educational issues, his experience at a Dallas community foundation, his inclusive approach to donors and his empathetic personality,” Vincent said. 

Vincent has been impressed by Randazzo’s first year. “He has been all over our community, meeting with leaders, volunteers and community people at all levels. He is an active listener and has built strong connections with longtime friends of GCF, as well as forging relationships with folks new to GCF. A force of nature, Matthew has become an integral part of Cincinnati in his first year.”

And he has been busy. Over the years, Randazzo has learned that people need certain necessities to be able to reach their potential: stable housing, health care, good food, reliable transportation and education. 

“There is no magic bullet when it comes to poverty eradication. But the two biggest predictors for graduating from high school and earning a living wage are kindergarten readiness and third-grade reading levels. Education is the most consistent lever for lifting somebody out of poverty.”

In the Cincinnati Public Schools, 47% of third graders are reading at a third-grade level, he said. That is not enough. The numbers are low across the country, but Cincinnati is really underperforming. There is, however, hope.

Randazzo points to Cincinnati Preschool Promise which was created in 2016 with the goal of better kindergarten readiness and improved third-grade reading levels. 

“That was hugely important,” Randazzo said. “And it is working. We are already seeing kindergarteners more prepared than ever before.”

Randazzo looks to other Cincinnati institutions to prove that this city can do anything it sets its mind to. Our parks and our cultural institutions are “world-class,” he said, because people committed themselves to making them great. He knows we can do the same for education and is certain we will.

“This is a community that wants all of our children to have a fair share.”

Randazzo thinks this region is perfectly situated to make real strides in housing, education and job creation. “Cincinnati’s business leaders know this is a place where you can do well and do good. We have a collection of civic leaders who understand that their success is tied to our entire communities’ success.” 

The relationships Randazzo began developing the moment he hit the ground here in 2023 will make a difference. People are noticing. 

“Matthew comes to Cincinnati with a unique understanding of the power of generosity, especially at an organization with the history and reputation of the Greater Cincinnati Foundation. He’s done everything right so far: building relationships, creating catalyzing partnerships, and offering big ideas about how community philanthropy can shape our future and grow our region,” said Brendon Cull, president and CEO of Cincinnati USA Regional Chamber.

 “When I met Matthew, I knew right away that he was going to be the best kind of partner in work to grow this region equitably. I also knew he’d be a lot of fun to work with, and that has proven 100% true. He and his family have embraced this city wholly, and it’s awesome to see how his passion for this place translates into his enthusiasm for the work GCF does every day.” 

Risk-taking and innovation

Randazzo thinks his organization can work to take some of the risk out of innovation by funding pilot projects. But with a caveat. “Some ideas involve risk. A new way to do things might turn out great. Or it might not. But finding out costs money, and nobody can afford to lose money,” he said.

If CPS wants to try a new program, they should be able to come to philanthropy to put in seed money to pay for the pilot, Randazzo said as an example. 

“This is how we can encourage innovation and risk-taking. We fund it. But if it works, you have to keep it going,” Randazzo said. “We can fund it. We can put ourselves in the first-loss position. This is the bridge that philanthropy should build.” 

Randazzo will build that bridge because he knows in his heart that small acts of kindness can make a big difference. An act of kindness can mean Christmas gifts under the tree. Or the ability to stay in your home. Or your mom getting a decent job, which means a kid from a hard childhood can spend the rest of his life trying to help others. 

“My ‘why’ is my lived experience. Countless times in my life I had adults step in to put me on this path,” Randazzo said. “I know that philanthropy matters.”