The George Gund Foundation
Encyclopedia
The George Gund Foundation was established in 1952 and provides grants in the areas of education
, human services, economic
and community development
, the environment
and the arts
. The Foundation has made grants totaling more than $538 million since its inception.
considered the private foundation
to be the most positive, farsighted vehicle for intelligent underwriting
of creative solutions to social ills. Grantmaking until George Gund's death in 1966 primarily reflected his personal commitment to institutions that had been important in his life.
The Foundation's asset
s grew considerably following George Gund's death in 1966, and the Foundation hired its first staff in 1969. At that time, the Foundation began to develop priorities and guidelines that reflected not only George Gund's interests but also new areas of commitment.
Today, George Gund’s vision is carried forth through the continued involvement of the Gund family. His son, Geoffrey, is currently president of the board which now includes both second and third generation family members.
with the sole purpose of contributing to human well-being and the progress of society.
, though a portion of the Foundation's grantmaking supports state and national policy making that bolsters its work locally. The Foundation only makes grants to 501(c)(3) organizations and to qualified government
units and agencies.
Education
Education in its broadest, general sense is the means through which the aims and habits of a group of people lives on from one generation to the next. Generally, it occurs through any experience that has a formative effect on the way one thinks, feels, or acts...
, human services, economic
Economic development
Economic development generally refers to the sustained, concerted actions of policymakers and communities that promote the standard of living and economic health of a specific area...
and community development
Community development
Community development is a broad term applied to the practices and academic disciplines of civic leaders, activists, involved citizens and professionals to improve various aspects of local communities....
, the environment
Environmental policy
Environmental policy is any [course of] action deliberately taken [or not taken] to manage human activities with a view to prevent, reduce, or mitigate harmful effects on nature and natural resources, and ensuring that man-made changes to the environment do not have harmful effects on...
and the arts
ARts
aRts, which stands for analog Real time synthesizer, is an audio framework that is no longer under development. It is best known for previously being used in KDE to simulate an analog synthesizer....
. The Foundation has made grants totaling more than $538 million since its inception.
History
The George Gund Foundation was created in 1952 because George GundGeorge Gund (philanthropist)
George Gund II was an American banker, business executive, and real estate investor who lived in Cleveland, Ohio in the early and middle part of the 20th century...
considered the private foundation
Private foundation
A private foundation is a legal entity set up by an individual, a family or a group of individuals, for a purpose such as philanthropy. The Bill & Melinda Gates Foundation is the largest private foundation in the U.S. with over $38 billion in assets...
to be the most positive, farsighted vehicle for intelligent underwriting
Underwriting
Underwriting refers to the process that a large financial service provider uses to assess the eligibility of a customer to receive their products . The name derives from the Lloyd's of London insurance market...
of creative solutions to social ills. Grantmaking until George Gund's death in 1966 primarily reflected his personal commitment to institutions that had been important in his life.
The Foundation's asset
Asset
In financial accounting, assets are economic resources. Anything tangible or intangible that is capable of being owned or controlled to produce value and that is held to have positive economic value is considered an asset...
s grew considerably following George Gund's death in 1966, and the Foundation hired its first staff in 1969. At that time, the Foundation began to develop priorities and guidelines that reflected not only George Gund's interests but also new areas of commitment.
Today, George Gund’s vision is carried forth through the continued involvement of the Gund family. His son, Geoffrey, is currently president of the board which now includes both second and third generation family members.
Mission
The George Gund Foundation was established in 1952 as a private, nonprofit institutionNon-profit organization
Nonprofit organization is neither a legal nor technical definition but generally refers to an organization that uses surplus revenues to achieve its goals, rather than distributing them as profit or dividends...
with the sole purpose of contributing to human well-being and the progress of society.
Grantmaking
The George Gund Foundation's long-standing interests include: Arts, Economic Development and Community Revitalization, Education, Environment, and Human Services. The Foundation's focus is centered in Greater ClevelandGreater Cleveland
Greater Cleveland is a nickname for the metropolitan area surrounding Cleveland, Ohio and is part of what used to be the Connecticut Western Reserve.Northeast Ohio refers to a similar but substantially larger area as described below...
, though a portion of the Foundation's grantmaking supports state and national policy making that bolsters its work locally. The Foundation only makes grants to 501(c)(3) organizations and to qualified government
Government
Government refers to the legislators, administrators, and arbitrators in the administrative bureaucracy who control a state at a given time, and to the system of government by which they are organized...
units and agencies.