Power couple combines business savvy and philanthropy to leave a lasting legacy.
Written by Melani Morose Edelstein | Photographed by Lauren Taylor
Tim and Mary Richardson are boldly stepping into an exciting new chapter where entrepreneurship meets heartfelt philanthropy. With a thriving love story that’s lasted more than four decades, this dynamic couple is channeling their passion into ventures that not only drive innovation but also deeply impact the community they cherish. Their inspiring and unyielding support for Torrance Memorial Medical Center—from volunteering and generous donations to visionary planned giving—underscores a commitment to creating a legacy.
The Richardsons’ love story is one of enduring partnership. They met in 1982 and have been in love ever since. “I’ve loved and adored Mary for over 42 years,” Tim says, his voice filled with affection. “We complement each other perfectly. Friendship and compatibility are the most important things in a marriage, and we’ve been lucky to have that.”
Their partnership transcends personal life and influences their professional pursuits and dedication to philanthropy. As co-founders of the RFT Group Corporation, they’ve established a business designed to generate funds for Torrance Memorial. “We’re 50-50 in everything we do,” Tim explains. “Our corporation is set up to make Torrance Memorial our heir.”
Tim’s career has been anything but ordinary. From aerospace and law enforcement to successful ventures in sales and entrepreneurship, Tim has consistently sought opportunities that align with his values of innovation and financial sustainability. Now at age 67, he’s launching what he calls his “Third Act: Time to Give Back”—an ambitious plan to revolutionize the laundromat industry with Deluxe Laundry Spa, a chain of high-tech laundromats designed to redefine the customer experience.
“Starting a business has always been about finding the right opportunities offering significant cash flow, recurring revenue and scalability, for an eventual sale,” he explains. “When I looked into laundromats, I found it fit my criteria perfectly.”
So he quickly dove into the laundromat industry in 2022. His vision for Deluxe Laundry Spa includes cutting-edge technology like facial recognition cameras and an ozone-sanitizing system to advanced analytics, all with a focus on sustainability.
“Technology is crucial for me,” he shares. “My stores will offer a customer experience like no other: attended, convenient, secure and eco-friendly.”
Tim’s ambitious plan is to grow four Deluxe Laundry Spa locations over the next decade, with the goal of selling the business and brand and donating 80% of the proceeds—estimated at $6.4 million—to Torrance Memorial. The remaining 20% will be divided, with 10% going to his employees and the remaining 10% reserved for his Fourth Act, whatever that might be.
“The whole idea of starting the laundromat business was to give it away,” Tim says. “We want this to be more than just a business venture. It’s about creating something that will provide long-term benefits to the community.”
While Tim builds his laundromat empire, Mary quietly continues to make her mark at Torrance Memorial. An Auxiliary volunteer since 2017 and a member of Las Amigas, a volunteer group focused on the Holiday Festival, Mary demonstrates unwavering dedication to the hospital.
“I never imagined I’d end up volunteering at the hospital where I was born,” she reflects. “But when my sister was treated for breast cancer at Torrance Memorial, the kindness and care everyone showed touched my heart. I knew I wanted to be part of that.”
Mary’s staunch commitment to planned giving has deepened her connection to the hospital and inspired the couple to make Torrance Memorial the primary beneficiary of their estate. They have decided to leave nearly everything they own to the hospital—a decision that underscores their belief in giving back.
“Mary has been incredibly supportive of my Third Act,” Tim says with admiration. “We have enough; we’re good. Her work at Torrance Memorial inspired me, and our shared mission has been pivotal. We both want to make a difference, and leaving our estate to a hospital with an outstanding reputation ensures our legacy continues long after we’re gone.”
The first Deluxe Laundry Spa is set to open in October. Tim and Mary remain focused and prepared for the big day. “We’re excited about this new chapter,” Mary says. “It’s been a whirlwind journey but one I’m proud to be a part of. Our goal is to make a difference, and seeing Tim’s passion for this new venture only strengthens that commitment.”
“Torrance Memorial is not just a hospital to us,” he explains passionately. “It’s a vital part of our lives.” •
How to Make a Bequest
Making a bequest through your will or living trust is the easiest of planned gifts. With simple language included in your will or trust, you can support Torrance Memorial after you leave this world, and your heirs also enjoy a tax benefit. Contact your estate planning attorney for guidance in reviewing and updating your will/trust or Torrance Memorial’s Office of Planned Giving. Please also let us know if you have included Torrance Memorial in your estate plan, so we can acknowledge your advance planning and include you in our Heritage Society.
Financial Health Seminars
Seminars* are scheduled to be held in person on Saturdays, 9 to 11 a.m.
Hoffman Health Conference Center
3315 Medical Center Drive, Torrance
Information & RSVP: 310-517-4728
January 11
Individual Taxation: Wrapping up 2024 & Planning for 2025
March 8
Estate Planning and Conservatorship Basics
May 10
Investment Strategies for Successful Retirement
*Dates and topics are subject to change.
