Mission Statement
The Ryan Elizabeth Chisholm Foundation Inc. (the “REC Foundation”), incorporated and based in New York City, is a 501(c)(3) public charity formed for the purpose of serving families, individuals, and college students in target urban markets across the United States (www.recf.nyc). The REC Foundation provides safe and affordable multifamily housing in underserved urban communities (the “Core Housing Mission”), creates environments that nurture the academic disciplines of Art and Philosophy (the “Core Academic Mission”) and supports student mental health and wellness (the “Core Wellness Mission”). The REC Foundation endeavors to integrate all three elements of its core missions into each of its projects.
The REC Foundation partners with universities, health care systems and community outreach organizations domiciled in its target urban markets. The REC Foundation’s investment activities are guided by a team with a long track record of expertise in both private and government funded housing. The fundamental investment objective is to generate a sustainable source of charitable donations for the Core Academic Mission and the Core Wellness Mission via the REC Foundation’s real estate related operating revenue from its Core Housing Mission. The REC Foundation will achieve this goal by virtue of a robust collaboration with local, state, and federal entities in furtherance of its investment, construction, renovation and operation of affordable and workforce housing projects. 100% of all profits generated by the REC Foundation’s Core Housing Mission are reinvested into the Core Academic Mission and the Core Wellness Mission.
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Ryan Elizabeth Chisholm was a beloved student at Trinity College who died tragically and unexpectedly in November 2022. The REC Foundation emanated from Ryan’s cherished sensitivities, bold dreams, and her singular energy. Ryan steadfastly confronted personal challenges with unrelenting and intrepid bravery, while nurturing broader academic and professional aspirations. Despite her young age, at the time of her accidental death Ryan had accomplished much. Ryan was both a dedicated artist and inquisitive student of philosophy, while working at a prominent national housing finance company exploring the impact of artificial intelligence on the industry. Ryan supported charitable causes including the support of inner-city families and students. The REC Foundation embraces Ryan’s spirit with an enduring legacy focused on helping underserved communities, promoting intellectual curiosity and fostering happiness.
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The REC Foundation’s Board of Directors was established to both oversee and achieve its diverse yet symbiotic goals. An Advisory Board provides guidance to the REC Foundation in the range of activities in pursuit of the Core Housing Mission, the Core Academic Mission and the Core Wellness Mission. The officers, directors and advisors of the REC Foundation have spent their careers as leaders in multifamily housing investment, finance, management, development, and law, as well as in the fields of higher education, mental healthcare and art.
The REC Foundation is funded entirely by charitable donations and revenue generated by investment activities associated with its Core Housing Mission. The REC Foundation’s governance, annual budget, partnerships and fundraising efforts are overseen by its Board of Directors. Best practice professional standards are maintained and enforced by the officers and directors of the REC Foundation. Legal and accounting support is provided to the REC Foundation by the law firm of Kelley Drye & Warren LLP and the accountancy of CBIZ Marks Paneth, and banking services are handled by Citizen’s Bank Private Client Services.