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Annenberg Foundation

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NEWS
May 31, 2012 | By Peter Dobrin, Inquirer Culture Writer
To a greater degree than before, the Annenberg Foundation is requiring accountability from the Philadelphia Orchestra in exchange for the $50 million gift the foundation made in 2003. That grant was the largest in the orchestra's history. But even after it was paid out, its use and destiny were never entirely left to the orchestra. The foundation reserved the right to recall the gift and any accumulated investment income if the orchestra ever filed for bankruptcy. Although the philanthropy, now based in Los Angeles, did not exercise that right when the orchestra filed for Chapter 11 in April 2011, a new and more controlling donor agreement has been crafted as part of the reorganization plan filed last week by the orchestra in U.S. Bankruptcy Court.
NEWS
December 10, 1992 | by Leigh Jackson, Daily News Staff Writer Staff writer Gloria Campisi contributed to this report
Catholic schools could be $10 million richer, thanks to a matching grant from the Annenberg Foundation announced yesterday. But the big bucks may not be enough to keep 10 high schools from closing or merging. The philanthropic organization based in Radnor will give $2 million to the beleaguered Catholic school system, if the Archdiocese of Philadelphia raises $8 million, the archdiocese said yesterday. The Annenberg money will come in $500,000 installments over four years.
NEWS
May 19, 1995 | by Marisol Bello, Daily News Staff Writer
They've raised $29 million. Only $71 million left to go. That's what the Philadelphia School District still needs to meet the requirements of the five-year Annenberg Foundation grant it received in February. Yesterday, the district and Greater Philadelphia First announced a $5 million pledge by local corporations to the grant. The Annenberg grant gives the district $50 million, but the district has to come up with $100 million - $50 million from the public sector and $50 million from the private sector.
NEWS
February 1, 2004 | By Peter Dobrin INQUIRER MUSIC CRITIC
P.S.: Here's $15 million more. Hot on the heels of pledging $50 million to the endowment of the Philadelphia Orchestra, Leonore Annenberg is committing $15 million to the Academy of Music, which is owned by the orchestra. The gift from the Annenberg Foundation is for the Academy's endowment, to be placed there in perpetuity, generating income each year for capital improvements to the 147-year-old landmark at Broad and Locust Streets. "What this really does is to make sure that the building is preserved," said Harold A. Sorgenti, the departing president of the Academy.
NEWS
March 26, 2013 | By Peter Dobrin, Inquirer Culture Writer
The Lenfest Foundation, one of the region's last remaining powerhouse philanthropies, has undertaken a series of changes that will dramatically alter its leadership and mission, and effectively maps out a path to its end. H.F. "Gerry" Lenfest has long said the foundation he and his wife, Marguerite, founded would spend itself down and cease to exist within 10 years of their deaths. But Lenfest, 82, has decided to step down now as chairman. Philadelphia entrepreneur Keith Leaphart, 38, will complete Lenfest's term as chairman through June 2015, heading a new eight-member board on which the Lenfests will remain members.
NEWS
November 30, 1994
The Inquirer erred in transcribing a letter by Walter Annenberg published Sunday on the Editorial Page. As published, the letter listed the Annenberg Foundation's education commitments as totaling in excess of $5 million. The figure should have been $500 million.
NEWS
December 29, 1991 | By Timothy Cornell, Special to The Inquirer
Minority students at the Westtown School will get a break on their tuition bills with the help of a grant from the Annenberg Foundation. In the midst of a fund-raising campaign, Westtown was awarded a $200,000 grant to ease the cost to minority students of the $13,600 tuition at the boarding school. Minorities compose 13 percent of the school's student body. The $200,000 will be placed in the school's endowment and invested, according to Martha B. Bryams, director of development and alumni affairs.
NEWS
May 22, 2011 | By Peter Dobrin, Inquirer Music Critic
When Leonore Annenberg, widow of billionaire publisher Walter Annenberg, decided to give $50 million to the endowment of the Philadelphia Orchestra, she created a donor agreement stipulating in great detail how the money should be handled, and how the investment proceeds could be spent. The 2003 gift, the largest in the orchestra's history, remains the keystone in the group's endowment, contributing up to several million dollars a year to the budget. But turning over $50 million wasn't the end of the Annenberg Foundation's relationship with the orchestra.
NEWS
October 3, 1991 | By Martha Woodall, Inquirer Staff Writer
Officials at Episcopal Academy in Merion announced yesterday that the Annenberg Foundation had pledged $2 million toward a $6.4 million capital campaign at the school. The money raised in the capital campaign during the next three years will be used to add a wing to the school's Greville Haslam Science Building in Merion and to construct a new building on the school's campus in Devon. The new facility in Devon will enable the school to double its elementary enrollment there in the next three years, school officials said.
NEWS
June 19, 1991 | By Leonard W. Boasberg, Inquirer Staff Writer
The Annnenberg Foundation will give $60 million to the Corporation for Public Broadcasting in a new long-term project to help America's youngsters understand science and mathematics. The project will use computers, two-way video, laser discs and data services - all kinds of innovative telecommunications - in what CPB President Donald Ledwig labeled "two critical areas of national need, mathematics and science. " Under the agreement with CPB, the Annenberg Foundation will provide up to $5 million a year over the next 12 years to the project, aimed at children in kindergarten through 12th grade.
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NEWS
February 8, 2014 | By Bob Fernandez, Inquirer Staff Writer
The regionally focused $2.2 billion William Penn Foundation reached outside the philanthropic sector and raided the University of Pennsylvania's Wharton School for its next top executive, hiring away vice dean Peter J. Degnan. The button-down Degnan replaces outspoken Jeremy Nowak, who had vowed to sharpen the philanthropic impact of the Penn Foundation when the organization hired him in April 2010. Nowak resigned in November 2012 after developing a 10-year plan but drawing disagreement from the foundation's board.
NEWS
September 30, 2013 | By Peter Dobrin, Inquirer Culture Writer
Second of three parts, on successive Sundays. For more than a dozen years, philanthropy in Philadelphia was led by a powerful quartet. In various combinations, the Pew Charitable Trusts, William Penn Foundation, the Annenbergs, and the Lenfests lined up behind arts and culture. They built: Without them, Philadelphia might have no National Constitution Center or new, altered Barnes Foundation on the Parkway. They rescued: Had they not stepped in to cover construction debt, the Kimmel Center would have drowned in red ink. And they preserved: When The Gross Clinic , Thomas Eakins' important canvas, was on the brink of being sold off to the National Gallery of Art in Washington and an Arkansas museum backed by Wal-Mart heirs, calls were made, checks written, a deal was struck, and the painting's continued residency was assured.
NEWS
March 26, 2013 | By Peter Dobrin, Inquirer Culture Writer
The Lenfest Foundation, one of the region's last remaining powerhouse philanthropies, has undertaken a series of changes that will dramatically alter its leadership and mission, and effectively maps out a path to its end. H.F. "Gerry" Lenfest has long said the foundation he and his wife, Marguerite, founded would spend itself down and cease to exist within 10 years of their deaths. But Lenfest, 82, has decided to step down now as chairman. Philadelphia entrepreneur Keith Leaphart, 38, will complete Lenfest's term as chairman through June 2015, heading a new eight-member board on which the Lenfests will remain members.
NEWS
November 30, 2012 | By Stephan Salisbury, Inquirer Culture Writer
Jeremy Nowak, president of the William Penn Foundation for only 18 months, has left his position, the foundation announced Wednesday, catching the region's nonprofit and educational communities by surprise. Foundation officials said in a statement that "differences in approach regarding implementation" of William Penn's new strategic plan - developed during the aggressive Nowak's tenure - led to the departure. There was no hint it was coming - even foundation staff members were caught off guard.
NEWS
May 31, 2012 | By Peter Dobrin, Inquirer Culture Writer
To a greater degree than before, the Annenberg Foundation is requiring accountability from the Philadelphia Orchestra in exchange for the $50 million gift the foundation made in 2003. That grant was the largest in the orchestra's history. But even after it was paid out, its use and destiny were never entirely left to the orchestra. The foundation reserved the right to recall the gift and any accumulated investment income if the orchestra ever filed for bankruptcy. Although the philanthropy, now based in Los Angeles, did not exercise that right when the orchestra filed for Chapter 11 in April 2011, a new and more controlling donor agreement has been crafted as part of the reorganization plan filed last week by the orchestra in U.S. Bankruptcy Court.
NEWS
August 1, 2011 | By Peter Dobrin, Inquirer Music Critic
The Philadelphia Orchestra has come under assault in recent days by two parties whose legal maneuvers threaten its $140 million endowment. Pianist and conductor Peter Nero, founding music director of the Philly Pops, on Friday filed a request for a financial examination of details of the relationship between the Annenberg Foundation and the Philadelphia Orchestra Association. The orchestra and the Pops are in contentious talks over the financial terms of a separation, and the examination, requested in a motion to the judge in the association's Chapter 11 bankruptcy case, is an attempt to compel a settlement, sources familiar with the action say. The request claims that the orchestra entered into a merger agreement with the Pops in 2005 "as part of its effort to fulfill its agreement with Annenberg and the conditions and goals and requirements of the $50 million gift from Annenberg.
NEWS
May 22, 2011 | By Peter Dobrin, Inquirer Music Critic
When Leonore Annenberg, widow of billionaire publisher Walter Annenberg, decided to give $50 million to the endowment of the Philadelphia Orchestra, she created a donor agreement stipulating in great detail how the money should be handled, and how the investment proceeds could be spent. The 2003 gift, the largest in the orchestra's history, remains the keystone in the group's endowment, contributing up to several million dollars a year to the budget. But turning over $50 million wasn't the end of the Annenberg Foundation's relationship with the orchestra.
NEWS
March 13, 2009
Hers was a lifestyle that few could imagine, but publishing heiress Leonore Annenberg, who died yesterday, had a charitable touch that has been felt by millions. Mrs. Annenberg, 91, rode with presidents aboard Air Force One and dined with royalty. Along with her husband, the late Philadelphia publishing magnate Walter H. Annenberg, she lived amid C?zannes and a household staff of 30. Yet the Annenberg family's sprawling good works of philanthropy meant that their wealth has and will continue to be enjoyed by people from all walks of life.
NEWS
March 13, 2009 | By Karen Heller INQUIRER STAFF WRITER
Leonore Annenberg, U.S. chief of protocol under President Ronald Reagan, widow of former U.S. Ambassador to Britain Walter H. Annenberg, and steward of the couple's massive philanthropy, died yesterday at Eisenhower Medical Center near her estate in Rancho Mirage, Calif. Mrs. Annenberg, 91, had been in declining health, making fewer appearances at the charitable events that were a constant in her civic life. Known to intimates as Lee, she became an equal partner in the family's charitable legacy during the couple's long marriage and assumed control of the Annenberg Foundation in Radnor after the 2002 death of her husband, who was a longtime publisher of The Inquirer and Philadelphia Daily News, which he sold in 1969.
NEWS
March 13, 2009 | By Tom Infield INQUIRER STAFF WRITER
Injured pets in California. Endangered orangutans in Borneo. Poorly nourished children in Chicago. While continuing in recent years to shower millions of dollars on education and the arts in Philadelphia, the Annenberg Foundation has broadened its reach to reflect the personal interests of younger members of the Annenberg family. Since opening a Los Angeles office in 2002 after the death of publishing magnate Walter H. Annenberg, the Radnor-based foundation increasingly has spread its wealth around Southern California - and the world.
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