But a list of Madoff's clients (pdf) released yesterday adds an even bigger local philanthropist to the list--real estate developer and investor Herman Sarkowsky, whose Sarkowsky Foundation is listed on page 132. Sarkowsky was a co-founder of the Seahawks and Portland Trail Blazers, is a thoroughbred horse breeder, and has served on numerous local boards, even chairing those of Children's Hospital and the Seattle Art Museum. He was also previously the president of the Jewish Federation of Greater Seattle.
While the dollar amount of the Sarkowsky Foundation's exposure hasn't
been released, it's also possible that we don't know the full potential
losses of the foundations on Kristof's list. Their exposure was
calculated by the amount of money they had listed as invested with Madoff on their most recent tax returns, but
it's possible they could lose money they'd withdrawn from their Madoff
As someone involved in a victimized foundation told us, on the condition of anonymity, untilthe litigation over payments is all worked out (which could take years), "Every foundation on that list is in a holding pattern."
We left a message with Sarkowsky Investments and have yet to hear back. More when we do.