In November 2011, the Price Family Charitable Fund made an extraordinary $50 million gift to the USC Sol Price School of Public Policy to honor the life and legacy of Sol Price, founder of Price Club. The naming gift also launched the Sol Price Center for Social Innovation.
The gift reflected a remarkable alignment between Sol Price’s life and legacy and the school’s mission. Sol Price possessed a deep understanding of the interplay between the public sector, private industry, and nonprofit organizations to improve the quality of life for individuals and communities. He also recognized the great value of an interdisciplinary approach to bring about positive social and economic change.
Sol Price had a profound commitment to social justice and reducing poverty. Throughout his life, he invested in philanthropic efforts that supported those in need, including the major urban development initiatives in the low-income City Heights area of San Diego. His legacy includes support for public policies aimed at poverty reduction, the role of nonprofit organizations in social services, access to a quality education and health care, and community improvement. He was a man of great integrity guided by his personal principles to improve the quality of life for the less fortunate.
The Price Family Charitable Fund has worked since 1983 to transform low-income, urban areas, particularly through active engagement in City Heights. The Fund has supported a holistic approach to community development, including housing, retail, education, transportation, employment and healthcare.
Together with the Price School’s academic rigor and practice-based expertise, the Sol Price Center for Social Innovation will develop viable, sustainable models of community development that can be replicated in other neighborhoods across the country, as well as foster a national dialogue on social and urban development policies. The Price Center provides a fertile ground for first-hand learning for students, a test-bed for faculty research, and an on-the-ground implementation of the school’s mission.
It is rare to find a benefactor whose life mission so closely aligns with a school. It is a great honor to represent Sol Price’s legacy.