Lee Foundation Appoints New Executive Director

Mark O'Donnell will take over the top spot at the private foundation, while serving in a dual role with Lee Capital Acquisition LLC, effective May 9. 

O'Donnell has a 15-year history with the Lee family as vice president of finance for the Energy Absorption Group of International Motion Control Inc. (IMC), the former Buffalo-based company. After the company's acquisition by ITT Corp. in 2007, O'Donnell stayed on as value center controller for two years, then spent the past two years at Tops Markets as vice president for finance and treasurer. 

Patrick Lee, who started the foundation in 2005 with a $250,000 donation, was founder of Enidine Inc., the company that grew to become IMC. The foundation received a major boost in 2007 after Lee sold IMC in a $395 million deal with ITT Corp. A planned gift by Lee will ultimately result in total assets of about $200 million. 

At the Lee Foundation, O'Donnell will investigate grant requests and the ability of charities to complete their mission, then bring that information back to the Lee family and board members for ultimately decision. He will also work to manage investments at Lee Capital, an Amherst-based private equity investment firm focused on investing in or acquiring small well-established manufacturing companies.

O'Donnell says he will monitor investments, while exploring investment opportunities in the private equity area, he says. 

"Patrick has an interest in investing in some very specific areas, so certainly I'm going to try to help him pick the best investments and help increase the value of Lee Capital, which will eventually become part of the foundation," he says. 

Though O'Donnell does not have specific experience working with a nonprofit foundation, he has been active with various charitable organizations in the community through his work at Enidine, IMC and at Tops. In prepared comments, Lee called O'Donnell an effective and involved member at IMC. 
"Mark brings his extensive management and financial skills that will assist the foundation and Lee Capital," he said. 

The foundation focuses on education, medical care and research, mental wellness and human and community services, supporting nonprofit groups in both Western New York and South Florida, where Lee currently lives. 

Total assets at the end of its 2009 fiscal year were $25 million, with gifts and grants that year totaling $1.3 million. Projections call for a similar giving level moving through 2011.