Gift moves fundraising campaign past $300 million
The Sumner M. Redstone Charitable Foundation has made a $20 million gift to the Motion Picture and Television Fund campaign, bringing total contributions to just over $300 million of the $350 million goal.
Redstone is the exec chairman of CBS and Viacom. The MPTF campaign was launched in February, 2012 by George Clooney and Jeffrey Katzenberg.
“For more than two decades Sumner Redstone has been one of the most generous supporters of MPTF and now with this extraordinary gift to the Campaign, he is providing for future generations in the entertainment community who need the help, support and services of this extraordinary organization,” said Katzenberg, chairman of the MPTF Foundation.
Katzenberg and his DreamWorks co-founders Steven Spielberg and David Geffen each donated $30 million to the fund last year, as did producer/philanthropist Steve Bing and Barry Diller. Anne and Kirk Douglas and Rupert Murdoch also came on board last year with $20 million gifts.
“My life’s work has been fueled by my passion for the entertainment industry,” Redstone said. “At its essence, motion pictures and television programming are wonderfully collaborative enterprises that bring together the talents and skills of many individuals. For me, it is a privilege to help provide essential services for those who truly drive this industry, so they can continue to focus on bringing entertainment magic to so many around the world.”
MPTF president Bob Beitcher noted in the announcement that over the next few years there are approximately 75,000 industry workers who will be retiring — many who will need assistance. Beitcher added that MPTF also helps the young industry worker who hits temporary crisis through a support network of 16 social workers.
The move comes nearly five years after the MPTF’s January 2009 announcement that rising costs amid the recession would force it to shutter its long-term care unit. But the MPTF restructured, brought in Beitcher in 2010, began admitting new patients last year for the first time in three years and launched the fundraising campaign. The UCLA Health System in October contracted to run MPTF’s six outpatient health centers under the UCLA umbrella, starting next spring.