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Eli & Edythe Broad Foundation

Profile

Last Updated: 2016-07-08

At A Glance

Eli & Edythe Broad Foundation

(also known as Eli and Edythe Broad Foundation)

2121 Ave. of the Stars, Ste. 3000

Los Angeles, CA United States 90067-5058

Telephone: (310) 954-5000

URL: www.broadfoundation.org

Type of Grantmaker

Independent foundation

Additional Descriptor

  • Celebrity: Business
  • Family foundation

Financial Data

(yr. ended 2014-12-31)

Assets: $1,941,410,735

Total giving: $158,312,966

EIN

954686318

BRIDGE Number

8424652661

Background

Established in 1999 in CA; As of Jan 1, 2007, the Eli & Edythe L. Broad Foundation merged into the Broad Foundation - Founded by Eli Broad and his wife Edythe. Mr. Broad is co-founder of the company Kaufman & Broad (KB Home), a homebuilding company based in the United States, founded in 1957. It was the first company to be traded on the NYSE as a home builder and it is a Fortune 500 company. He is also founder of the financial retirement company SunAmerica, which later merged with the American International Group (AIG). Eli and Edythe Broad have committed to The Giving Pledge, and have pledged to give away at least half of their wealth to philanthropy.

Purpose and Activities

The foundation's mission is to advance entrepreneurship for the public good in education, science and the arts.

Program Area(s)

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

Broad Education Program

Since 1999, foundation has provided nearly $600 million to significantly improve student achievement in urban areas by creating and supporting strong leadership, school district efficiency, competition, best practices and teacher quality. The program focuses on improving urban school districts because they serve one of every four American children. These districts are currently among the most under-performing and represent the greatest opportunity to dramatically improve student achievement. The foundation also invests in specific areas where it believes it can provide value to the field, based on its views that: 1. Efficient organizations that serve students well, American school districts and schools need strong, talented leadership; 2. Every person and every dollar in school district central offices and schools must be focused--efficiently and effectively--on students, not adults, and must be held accountable for results; 3. All students do better when they are supported by a good teacher; 4. Every child should have the opportunity to attend a high-quality public school; and 5. Best practices should be shared. Applications not accepted.

Broad Superintendents Academy

The academy offers a structured opportunity for game-changing leaders to challenge, support and learn from each other as they develop innovative strategies to tackle some of public education';s greatest challenges. Following a rigorous application and review process, between 10 and 15 participants from within and outside K-12 education are selected for each cohort. Online resume submission is required.

K-12 Public Education

The foundation works to ensure every child in America can attend a great public school by funding the following areas: (1) leadership, to support visionary leaders and managers working to prepare students around the country for success in college, career and life; (2) parent choice, to support the growth of high-quality public schools so that parents in every neighborhood have access to a great school for their children; (3) students rights, to support every child's right to learn from a great teacher in a safe, supportive, and engaging public school; (4) teacher voice, to support teachers in their classrooms and (5) community, supporting organizations in Los Angeles, CA, that are working on behalf of families and students and helping them access educational opportunities.

Program-Related Investment

The foundation has made PRIs in the form of loans for the construction of a contemporary art museum and to support high performing nonprofit charter schools. The foundation has made a PRI to a clinic. Historically, the foundation has made PRIs to support school development in underserved neighborhoods.

Scientific and Medical Research

The Broad Foundation works to advance major scientific and medical research, especially in the areas of human genomics at the Broad Institute of MIT and Harvard, stem cell research at centers housed at USC, UCLA and UC San Francisco, and inflammatory bowel disease through the Broad Medical Research Program in partnership with the Crohn's & Colitis Foundation of America.

The Arts

For the past 40 years, Eli and Edythe Broad have worked to make great contemporary art and world-class architecture accessible to as many people as possible, particularly in their hometown of Los Angeles, CA. From loaning artworks to hundreds of museums around the world through The Broad Art Foundation to building and endowing The Broad Museum on Grand Avenue in downtown Los Angeles;and offering free general admission to encourage everyone to experience art;the Broads'; philanthropy in arts has enriched public life and established L.A. as a contemporary art mecca.

Fields of Interest

Subjects
  • Arts and culture
  • Biomedicine
  • Diseases and conditions
  • Education
  • Educational management
  • Elementary and secondary education
  • Equal opportunity in education
  • Science
Population Groups
  • Academics
  • Adolescents
  • Children
  • Children and youth
  • Economically disadvantaged people
  • Low-income and poor people
  • Students

Financial Data

Year ended 2014-12-31

Assets: $1,941,410,735 (market value)

Gifts received: $2,990,433

Expenditures: $191,697,590

Total giving: $158,312,966

Qualifying distributions: $187,486,374

Giving activities include:

$158,312,966 for 242 grants (high: $70,000,000; low: $250)

$20,701,628 for loans/program-related investments