A year after the death of longtime Seattle entrepreneur Richard Tait, his friends and family are establishing an endowment fund to help celebrate his life and legacy and assist future young entrepreneurs in chasing their dreams.
The group behind the “Richard Tait Spirit of Innovation Award” aims to raise $250,000. The money will be directed to the Team Tait Foundation, which Tait established several years ago, with a goal of awarding $10,000 to a worthy recipient every year for the next 25 years or so.
Tait’s longtime friend Daniel Katz is among those spearheading the effort.
“I knew Richard for a long time. The guy was so smart and so funny and loved by so many people,” Katz told GeekWire this week. “And I wanted to have something that will allow his memory to live on for a long period of time.”
Tait passed away on June 25, 2022, at his Bainbridge Island, Wash., home from complications due to COVID-19. He was 58 years old. A serial entrepreneur and mainstay of the Seattle tech scene, Tait left his mark at Microsoft, Starbucks, the University of Washington, on the board game industry, and elsewhere.
Katz, an environmental activist from New York, met Tait when Katz was running the Rainforest Alliance, an organization he started in 1987 and where he is still board chair. Tait made a donation in the early 1990s and Katz called him up to thank him.
The two formed a lasting friendship. Tait was Katz’s best man at his wedding and they took many trips together. They were together with their wives playing Scrabble and Pictionary when Katz recalled Tait saying, “There’s got to be a game for the whole brain.”
It was the spark for “Cranium,” the popular board game Tait helped invent. He left Microsoft to create the game, along with fellow Microsoft executive Whit Alexander.
The group behind the fund, including some at the UW, have already raised about $130,000. Anchor gifts have been made by former Starbucks CEO Howard Schultz and Jonathan Shulkin, co-president of Valor Equity Partners, where Tait had been a partner since March 2019.
Details are still being sorted out on who might qualify for such an award. Tait was a longtime mentor in the UW’s Foster School of Business and Katz said there has been talk that the award could go annually to someone at that school. Another suggestion was to honor a Scottish entrepreneur living in the U.S., in a nod to Tait’s own roots.
“Either way, we’re looking for someone who we can support, who needs the funds and who’s hopefully brilliant and and creative,” Katz said. “We’ll either give it to a person with a project or a person in need.”
A letter (below) signed by members of Tait’s family is being sent to potential donors. An award committee lists Katz, Alexander and Shulkin as well as real estate developer Liz Dunn, Microsoft vet Bruno Lambert, writer Elana Lim, designer Ebun Olaloye, and Valor Equity founder Antonio Gracias.
Katz said he hopes the award is one reason for everyone to get together at least once a year and remember and celebrate Tait. He still misses everything about his friend.
“I miss his laugh, his smile, his wicked sense of humor, his playfulness, his creativity, his loyalty. He was in so many ways iconic, and deserves way more than a small fellowship,” Katz said. “He just left us way too soon, and my heart is still broken, as are so many others.”
The letter to “friends of Richard” provided to GeekWire:
It is hard to believe that nearly one year has passed since we lost dear Richard. As you know, Richard was a life force and a dynamo in so many ways. While his spirit will never be forgoten, the Richard Tait Spirit of Innovation Award is also in the works to honor his life and legacy.
Our collective intention is to honor Richard by creating this new award. We are now raising funds and directing them to the Team Tait Foundation that Richard established several years ago. One hundred percent of the funds raised will be earmarked for this award. In addition, we hope to partner with the University of Washington Foster School of Business; they have already raised over $30,000 in Richard’s name. Our goal is to raise $250,000; we are nearly halfway there already. If we reach our goal, our plan is to provide an annual award for approximately 25 years.
Below are the details about donating to secure Richard’s legacy. We hope you can join us by supporting the new Richard Tait Spirit of Innovation Award and joining us each year as the award is presented. We think it is a beautiful way to honor Richard and his numerous gifts to us and the world.
We appreciate your consideration. Please note that all gifts are fully tax-deductible. Please reach out with any questions you may have. We look forward to hearing from you.
Best,
Karen Fries
Amy Paron
Deacon Tait
Finn Tait
Louise Tait
Remy TaitAWARD COMMITTEE
Whit Alexander, Liz Dunn, Daniel Katz, Bruno Lambert, Elana Lim, Ebun Olaloye, Valor Equity Partners — Antonio Gracias and Jon Shulkin
Please send tax-deductible donations to:
TT Foundation
Attention: Elana Lim
1425 Broadway No. 28
Seattle, WA 98122
