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Altman Foundation

Profile

Last Updated: 2016-06-06

At A Glance

Altman Foundation

8 W. 40th St., 19th Fl.

New York City, NY United States 10018-2263

Telephone: (212) 682-0970

URL: www.altmanfoundation.org

Type of Grantmaker

Independent foundation

Additional Descriptor

  • Celebrity: Business; Other

Financial Data

(yr. ended 2014-12-31)

Assets: $254,946,862

Total giving: $11,098,375

EIN

131623879

BRIDGE Number

3959194272

Background

Incorporated in 1913 in NY - Founded by the late Benjamin Altman, who established B. Altman & Company. In his will, Mr. Altman bequeathed his ownership of B. Altman & Company to the foundation. Following Altman’s death, Colonel Michael Friedsam, his close relative and colleague, led the business and the foundation until his own death in 1931. Friedsam was also an art collector and a philanthropist with a deep interest in New York. The next presidents, John S. Burke and his son, John S. Burke, Jr., carried the Altman tradition of service and support of the community into the modern age. In December 1985, to conform with new laws prohibiting control of businesses by private foundations, the foundation relinquished ownership of the company increasing the market value of the foundation's assets significantly. The foundation's original purposes were to provide for the employees of B. Altman & Company and to support charitable and educational institutions at the discretion of the trustees. In 1964, the foundation's charter was amended and its activities were limited to support of charitable and educational institutions in New York State.

Purpose and Activities

The foundation's mission is to support programs and institutions that enrich the quality of life in New York City, with a particular focus on initiatives that help individuals, families and communities benefit from the services and opportunities that will enable them to achieve their full potential.

Program Area(s)

The grantmaker has identified the following area(s) of interest:

Arts and Culture

The foundation has had a longstanding interest in the arts, reflecting not only Benjamin Altman's personal commitment, but also the foundation's recognition of the value of the arts in enriching the lives of New Yorkers and the city as a whole. The foundation invests in organizations, programs, and projects that achieve results aligned with their three arts objectives. The first objective is to promote positive youth development through arts and cultural programming. Results sought include: significantly increase the mastery of program-specific skills and other developmentally appropriate life skills; measurably advance the academic progress of students; and successfully transition participants to high-quality secondary, post-secondary, or professional opportunities. The second objective is to promote the acquisition of preprofessional arts skills among underserved youth. Results sought include: enroll and retain promising students from underserved communities in the highest-quality preprofessional training in specific arts disciplines; measurably increase the mastery of program-specific skills against a curriculum-based standard; and successfully transition participants to high-quality secondary, post-secondary, or professional opportunities. The final objective is to promote access to the arts and cultural activities for underserved populations. Result sought: increase sustained engagement and participation of underserved populations in high-quality arts and cultural programming provided by established and meaningful organizations and institutions.

Education

Given the importance of education in building strong individuals, families, and communities, and the primacy of literacy in enabling people to succeed, the foundation invests in organizations, programs, and projects outside of the public schools that achieve results aligned with two objectives. The first objective is to increase access for disadvantaged children and youth to high-quality academic opportunities. Results sought include: significantly improve the academic performance of disadvantaged students; increase the number of disadvantaged students enrolled and retained in independent and other high-quality schools; and to increase the number of disadvantaged students enrolled and retained in college. The second objective is to promote excellence in education for disadvantaged children and youth in non-public in-school, after school, early childhood, and other settings, with a particular emphasis on initiatives that expand and/or enhance multiple programs across a system. Results sought include: significantly improve the social, emotional, cognitive and academic development of children; measurably improve the caliber and diversity of faculty and staff; increase the involvement of parents in their children's education; and increase the number of families participating in effective literacy activities, particularly early literacy activities. .

Employee Matching Gifts

The foundation matches the monetary gifts of its employees and trustees, within prescribed dollar amounts, to charitable organizations in New York State.

Health

Recognizing the critical role of quality and accessible health and mental health care in the well-being of individuals, families, communities, and the city as a whole, the foundation invests in organizations, programs, and projects that achieve results aligned with three objectives. The first objective is to promote access to care for underserved and/or uninsured populations. Results sought include: increase the number of New Yorkers with adequate health insurance, particularly public and/or publicly subsidized health insurance; decrease in system- or community-wide barriers to health care or particular health services due to, e.g., immigration status, economic means, or provider capacity, and system- or community-wide increase in number of New Yorkers able to seek, navigate, and manage their health care and health insurance, either alone or with the help of a caregiver. The second objective is to expand and strengthen quality out-of-hospital health care for the most underserved and vulnerable populations. Results include: increase in number of underserved and vulnerable New Yorkers benefitting from one or more of the following: a) primary care from a “Patient-Centered Medical Home” or comparable out-patient community-based provider; b) coordinated care, care management, and/or multi-disciplinary support provided in an accessible community- or home-based setting, with a focus on programs targeting New Yorkers living in poverty with multiple chronic or behavioral health conditions, or who are home-bound or transportation-challenged, including frail elders; c) services aimed at reducing unnecessary hospital admissions, readmissions, or emergency room use, and successfully transitioning patients into out-of-hospital care and care management. Another result includes: advance in knowledge, policies, and practices capable of contributing to the “triple aim” of improved quality of care and patient experience; improved health in the population served; and, where consistent with quality, reduced or contained cost of care. The third objective is to promote development and expansion of the workforce needed to support delivery of primary, community-based, and at-home health care and care management for the most vulnerable populations. Results sought include: increase in number of health care support workers with improved skills, enhanced job quality, and expanded pathways to advancement in the transforming health service sector; and increase in number of workers newly trained for and successfully placed in entry-level and/or paraprofessional positions related to care coordination, care management, and community outreach .

Program-Related Investment

The foundation has made PRIs in the form of bridge financing to help nonprofit organizations in New York City and to further historic preservation. Historically, the foundation has made PRIs in the form of loans for housing development.

Services to Not-For-Profits

The foundation provides support to organizations that either significantly enhance the ability of key umbrella organizations to help their member agencies address critical community issues in the foundation's areas of interest, or measurably improve organizational effectiveness or program quality of community-based or other organizations working in the foundation's areas of interest.

Strengthening Communities

The foundation has an historic interest in ensuring that individuals and families living in the city have access to the services and resources they need to pursue and sustain successful lives. The foundation invests in organizations, programs, and projects that achieve results aligned with two objectives. The first objective is to build and preserve economic security and independence among low-income individuals and families. Results sought include: increase the number of low-income New Yorkers who are placed in and retain jobs that support economic independence; increase the number of low-income New Yorkers enrolled in public benefits that complement work; and enable vulnerable populations (e.g., the elderly) to remain in their own homes and communities, with a focus on systemic efforts to address barriers to independence. The second objective is to promote and sustain the availability of, and equitable access to, essential community resources needed to support stable, healthy communities, with an emphasis on systemic efforts. Results sought: preserve and/or increase the quality and amount of affordable housing, well-maintained parks and open spaces, and other essential community resources. .

Fields of Interest

Subjects
  • Arts and culture
  • Diseases and conditions
  • Early childhood education
  • Education
  • Elementary education
  • Employment
  • Family services
  • Health
  • Housing development
  • Human services
  • Mental health care
  • Palliative care
  • Secondary education
  • Senior services
  • Youth services
Population Groups
  • Academics
  • Adolescents
  • Adults
  • Caregivers
  • Children
  • Children and youth
  • Economically disadvantaged people
  • Ethnic and racial groups
  • Female adults
  • Female children and youth
  • Female young adults
  • Females
  • Immigrants
  • Low-income and poor people
  • Male adults
  • Male children
  • Male children and youth
  • Male young adults
  • Males
  • People of African descent
  • People of Latin American descent
  • Seniors
  • Students
  • Terminally ill people
  • Transitioning children
  • Young adults

Financial Data

Year ended 2014-12-31

Assets: $254,946,862 (market value)

Expenditures: $16,235,901

Total giving: $11,098,375

Qualifying distributions: $14,133,164

Giving activities include:

$10,945,350 for 147 grants (high: $300,000; low: $5,000)

$153,025 for 45 employee matching gifts