Anyone who questions the value of art should take a look at the Charles Pankow Foundation. Under the stewardship of Richard M. Kunnath, the nation's only privately funded group devoted to building innovation has sponsored $8 million worth of applied research since 2006. Funds come from a $44-million endowment generated mostly from the sale of the art collection that belonged to the late construction giant Charles J. Pankow.
"Innovation was what Charles Pankow was always about," says Kunnath of his late mentor-partner. Kunnath, the foundation's president from its inception, also is executive chairman of Pankow Management Inc. A professional engineer, Kunnath joined his mentor in 1979.