Foundation Annual Reports
December 11, 2003 | Read Time: 7 minutes
CARNEGIE CORPORATION OF NEW YORK
437 Madison Avenue
New York, N.Y. 10022
(212) 207-6289
http://www.carnegie.org
Period covered: Year ending September 30, 2002.
| Finances | ||
| (in millions) | 2001 | 2002 |
| Assets | $1,711.5 | $1,627.7 |
| Net realized investment income | $127.8 | $38.1 |
| Program management and direct charitableactivities | $9.7 | $10.8 |
| General administrative expenses | $3.0 | $3.3 |
| Grant appropriations | $82.5 | $147.0 |
Purpose and areas of support: The Carnegie Corporation of New York was endowed in 1911 by Andrew Carnegie (1835-1919), the Scottish-born steel magnate and philanthropist. Mr. Carnegie created several philanthropic and educational institutions in the United States and several more in Europe, in addition to building 2,509 free public libraries throughout the English-speaking world.
The foundation makes grants in four program areas: education, international peace and security, international development, and strengthening U.S. democracy. It also makes selected grants through the Carnegie Scholars Program, the Special Opportunities Fund, and the Dissemination Program.
Education grants focus on advancing literacy, revamping urban schools, and restructuring teacher-education programs. The substantial increase in appropriations over the preceding year is due to the awarding of multiple-year grants totaling $60-million under the corporation’s Schools for a New Society Initiative, a partnership with the Bill & Melinda Gates Foundation to transform high schools in seven districts nationwide.
The program in international peace and security focuses on five interrelated components: nuclear and biological weapons, technological and scientific advances, global engagement, U.S.-Russian cooperation, and higher education in the former Soviet Union.
The international-development program supports three main areas: strengthening African universities, enhancing higher-education opportunities for African women and girls, and revitalizing selected African libraries.
During its fiscal year 2002, the foundation provided more than $10-million to universities in Ghana, South Africa, Tanzania, and Uganda. Efforts focus on providing scholarships to women at selected institutions, incorporating new technology in teaching, and strengthening disciplines that are germane to national development and progress.
Efforts to strengthen democracy in the United States stress four topics: removing structural barriers to electoral and civic participation, improving young people’s attitudes toward civic involvement, integrating immigrants more fully into U.S. civic life, and strengthening philanthropy and nonprofit institutions.
In its fiscal year 2002, the foundation supported various interdisciplinary efforts to increase American understanding of Islam’s diversity and complexity. For exam-ple, $250,000 went to the Independent Production Fund, in New York, for educational activities designed to complement its Public Broadcasting Service documentary on Islam and a companion series on ABC’s Nightline program.
Application procedure: Potential grant seekers are encouraged to submit a letter of inquiry. If the project described in the letter fits the foundation’s guidelines, the grant seeker will be contacted and asked to submit a proposal using the foundation’s format. Program guidelines, information on funding restrictions, and instructions for submitting letters of inquiry are available on the foundation’s Web site. The foundation has no formal deadlines.
Key officials: Vartan Gregorian, president; Neil Grabois, vice president and director for strategic planning and program coordination; Susan Robinson King, vice president for public affairs; Edward Sermier, vice president and chief administrative officer; D. Ellen Shuman, vice president and chief investment officer; Robert J. Seman, director of finance; Patricia L. Rosenfield, chair of the Carnegie Scholars Program and special adviser to the vice president and director for strategic planning and program coordination; Helene L. Kaplan, chairman of the Board of Trustees.
Program chairs: Daniel Fallon, education; Geraldine P. Mannion, strengthening U.S. democracy; Narciso Matos, international development; David C. Speedie, international peace and security.
COLUMBUS FOUNDATION
1234 East Broad Street
Columbus, Ohio 43205
(614) 251-4000
http://www.columbusfoundation.org
Period covered: Year ending December 31, 2002.
| Finances | ||
| (in millions) | 2001 | 2002 |
| Assets | $656.7 | $628.1 |
| New donations & bequests | $52.2 | $77.6 |
| Interest, dividends, & other income | $18.6 | $18.4 |
| Net unrealized & realized loss on investments | $-42.3 | $-69.9 |
| Operating expenses | $5.0 | $4.4 |
| Grants approved | $60.5 | $46.0 |
Note: The preceding financial information is for the foundation and its affiliated organizations.
Purpose and areas of support: Created in 1943, the foundation currently ranks as the seventh largest of the more than 650 community foundations in the United States. It comprises more than 1,240 charitable funds, 28 supporting foundations, and one affiliated foundation. In 2002, donors contributed a total of $77.6-million to the foundation and created 105 new funds and supporting entities.
The foundation allocated grants totaling approximately $50-million to 1,389 nonprofit organizations. Competitive grant making focuses on projects that benefit residents of Columbus and central Ohio in seven program areas: the advancement of philanthropy, arts and humanities, conservation, education, health, social services, and urban affairs.
Arts and humanities grants promote public participation in the folk, literary, performing, media, and visual arts. Organizations with annual budgets at or above $300,000 apply through the Major Arts Program, while smaller groups apply through the Community Arts Fund.
Conservation grants emphasize support for projects and land acquisition related to environmental preservation, the wise use of natural resources, the protection of wildlife and natural habitats, and botanical gardens.
Education-related grants stress the importance of continued learning for people of all ages. The program also makes grants for parent education, school-based support services, library services, community involvement in schools, and adult literacy.
The health program encompasses support for child immunization, convalescent and home-based care, disease prevention, family planning, health education, mental health, nutrition, school-linked health services, and substance-abuse treatment.
Social-services grants finance child-rearing education, emergency services for homeless and other people, school-linked services for children and adolescents, and services for elderly and disabled people.
The urban-affairs program emphasizes projects dealing with civic participation, community and economic development, cross-cultural activities, employment and training, housing, and public safety.
Application procedure: The foundation accepts applications from organizations in central Ohio that are tax-exempt under Section 501(c)(3) of the Internal Revenue Code. The foundation makes no grants to individuals, and generally does not support requests for religious purposes, budget deficits, endowments, conferences, scholarly research, or projects that are normally the responsibility of a public agency. The foundation does not accept proposals by e-mail or fax. Additional information about grant-making guidelines and application deadlines and procedures is available on the foundation’s Web site.
Key officials: Douglas F. Kridler, president and chief executive officer; Raymond J. Biddiscombe, vice president for finance and administration; Lisa S. Courtice, vice president for community research and grants management; Philip T. Schavone, vice president for donor services and development; Tamera Durrence, manager, supporting foundations; Carol Harmon, director of communications; Nancy Fisher, grants manager; Abigail Wexner, chairman of the Governing Committee.
CORPORATIONS
GOLDMAN SACHS FOUNDATION
375 Park Avenue, Suite 1008
New York, N.Y. 10152
(212) 902-5402
http://www.gs.com/foundation
Period covered: Year ending November 30, 2002.
| Finances | ||
| (in millions) | 2001 | 2002 |
| Assets | $211.9 | $178.7 |
| Contributions & donated services | $11.8 | $1.7 |
| Interest & dividends | $7.7 | $5.0 |
| Net realized &unrealized loss on investments | $-19.4 | $-12.3 |
| General & administrative expenses | $0.6 | $0.7 |
| Grant & other program-related expenses | $11.9 | $13.7 |
Purpose and areas of support: The foundation was endowed in 1999 with a $200-million donation from the Goldman Sachs Group, a leading global investment bank and securities firm. The foundation’s mission is to promote excellence and innovation in education worldwide. Since its inception, the foundation has awarded grants totaling approximately $43-million for projects in more than 20 countries.
The foundation determines its grant-making priorities through periodic assessments of needs and opportunities in the field of education and youth development. Currently, grant making focuses on developing the abilities of youths who exhibit great potential, supporting high-quality education for young people in business and entrepreneurship, and enhancing the academic achievement and future outcomes of students attending secondary schools.
Geographically, 57 percent of grants paid went to support national activities, 29 percent to international activities, and 14 percent to activities in New York City.
Through its program to assist youths with high potential, the foundation forms partnerships with outstanding academic programs that prepare young people to attend and succeed at selective universities and to enter challenging professions. For example, the Institute of International Education, in New York, received $1,750,000 for an annual competition held at more than 70 college campuses worldwide to identify 100 sophomore students who demonstrate superior character development, academic achievement, and extracurricular involvement.
Efforts to support high-quality education in business and related areas focus on programs that offer exemplary instruction in economics, finance, and entrepreneurship, including social entrepreneurship.
Through its third program area, the foundation supports activities at both public and alternative schools that foster successful institutions, teachers, and students.
Application procedure: Prospective applicants are invited to submit to the foundation a short letter of inquiry — approximately two pages — that describes the program or organization for which the grant is sought and the organization’s mission, accomplishments, budget, and current funding needs. The foundation does not make grants to individuals; fraternal organizations; or political causes, campaigns, or candidates; it also does not provide support for fund-raising events. The foundation makes grants year-round and, with a few exceptions, there are no fixed deadlines.
Key officials: Stephanie Bell-Rose, president; Garry W. Jenkins, chief operating officer and general counsel; Charles Foster, financial affairs and operations manager; Christopher J. Williams, communications officer; Renée M. Berman, Gisela Keller, and Joanne H. Heyman, program officers; John C. Whitehead, chairman of the Board of Trustees.
