CHARLES AND HELEN SCHWAB FOUNDATION ANNOUNCES RESTRUCTURING
Foundation Transitions from Operations to Grants
SAN MATEO, Calif. (September 21, 2007) – The Charles and Helen Schwab Foundation announced today that it will shift its focus from Schwab Learning, its free, direct service program with a twenty-year history of helping families of children with learning and attention problems, to concentrate on grants and giving.
“After careful consideration, Helen and I have decided to change the structure of our personal Foundation, moving away from the direct management and operation of charitable activities to become solely a grant-making organization,” said Charles Schwab. “In planning for our Foundation’s future, we gave careful thought to the impact it could have during our lives – and beyond – and concluded that providing grants to seed and support the activities of multiple organizations, in learning disabilities (LD) and elsewhere, offers the most appropriate structure for long-term philanthropic impact. Further, while this decision will mean the closure of our two websites, SchwabLearning.org and SparkTop.org, we are considering multiple scenarios in which our existing resources for parents and their children with LD can be made available on a continuing basis.”
Charles and Helen Schwab established their private foundation in 1987 with the first iteration of Schwab Learning, when very few resources were available to families of children struggling with LD. Since 1987, the Foundation has invested more than $90 million in resources to serve the LD community, beginning with the original Parent’s Education Resource Center through the creation and management of today’s award-winning websites, SchwabLearning.org for parents and SparkTop.org for children. This guidance and support has provided an invaluable resource for millions of families free of charge.
“It has been an extraordinary opportunity to collaborate with the world’s brightest researchers, experts, and scientists to deliver our robust resources to assist parents and their children who are struggling with LD,” said Jodell Seagrave, managing director of Schwab Learning Programs and Grants. “There are numerous committed, sophisticated organizations in our field today, and we are working with these partners to transition our resources in order to continue to support these families.”
The Foundation pledges to continue its philanthropic work and has named Ana Thompson, currently managing director of Grants, Finance, and Administration, as Executive Director of the Charles and Helen Schwab Foundation, effective January 2008.
”The Schwabs commitment to philanthropy these past twenty years, in both the LD field and elsewhere, has been extraordinary,” said Thompson. “The Foundation has a strong history with many nonprofit providers who bring a strong commitment to improving lives. I look forward to working closely with the Schwabs to build on this impressive track record.”
About the Charles and Helen Schwab Foundation and Schwab Learning