Case Study Sector
Established in 1980 and fully activated in 1989, the Corella and Bertram F. Bonner Foundation will spend down and cease operations in 2010. The Bonners established their eponymous foundation during their lifetimes, which enabled them to define its mission and to engage staff and trustees to implement their philanthropic vision. The Bonner Foundation’s two signature programs are its Crisis Ministry Program, which seeks to end hunger in America, and the Bonner Scholars Program, which provides scholarships to financially needy students who commit to at least 10 hours of community service per week during the school year and to engage in summer service internships. In a recent 11-year period, the Foundation provided $9.5 million in grants through its Crisis Ministry Program and $12 million through the Bonner Scholars Program. Although many of the details of the Bonner Foundation’s termination plan have yet to be made public, recent actions by the Foundation suggest that it will distribute its assets ($84,250,967 on June 30, 2008) in the form of endowment grants to key grantees.
This case study is one of five presented in Time Is of the Essence: Foundations and the Policies of Limited Life and Endowment Spend-Down: the Julius Rosenwald Fund, 1917 to 1948; the General Education Board, 1903 to 1961; the Lucille P. Markey Charitable Trust; the Mary Flagler Cary Charitable Trust; and the Corella and Bertram F. Bonner Foundation.
- Northern America