Emmett Carson, president and CEO of the Minneapolis Foundation, will take over the new Silicon Valley Community Foundation on Nov. 1.
The new foundation, formed by the merger of the Peninsula Community Foundation and the Community Foundation Silicon Valley, will be one of the largest community foundations in the U.S., managing 1,400 charitable funds and assets of more than $1.5 billion.
Carson, 46, will receive $450,000 in base salary, plus benefits, retirement and relocation and housing assistance.
Since Carson joined the Minneapolis Community Foundation in 1994, its assets have grown to more than $600 million from $186 million.
Before leading the Minneapolis Community Foundation, Carson served as the first manager of the Ford Foundation’s global grantmaking program on philanthropy and the nonprofit sector.
He also is the immediate past chair of the board of the Council on Foundations.
The Community Foundation Silicon Valley, based in San Jose, Calif., houses more than 650 charitable funds with assets totaling $919 million.
The Peninsula Community Foundation, based in San Mateo, manages 750 fund totaling $612 million in assets and houses a $125 million endowment.
The merger is expected to completed by the end of the year, and the new organization will be headquartered in the Palo Alto area with regional offices in San Jose and San Mateo.