Report on Gender Equity on Boards and Commissions
The Women’s Forum of North Carolina, Inc. (1996)
III. Foundations
CRITERIA FOR SELECTION:
- Large assets;
- Growth potential of the foundation;
- Lack of gender balance on board of directors; and
- Contribution to solving problems affecting women.
SOURCES: The information presented here has been taken from NC Giving, a 1996 publication of the Capital Consortium; The Foundation Directory, 1997 edition; and staff interviews.
SELECTED FOUNDATIONS:
1. Bank of America Foundation
This is by far the largest corporate foundation in North Carolina. Lynn Drury is foundation president and trustee, and Laura Foxx, Tracy Boyd, and Paula Fisher are directors.
Assets (’98) |
Annual Grants (’98) | Directors | Female Directors | % Female Directors |
$572 billion | $100 million | 8 | 5 | 62% |
2. Z. Smith Reynolds Foundation
This foundation has an excellent track record on women’s issues despite a lack of gender balance on the board. Jane Patterson, Katherine Mountcastle, Mary Mountcastle, and Shirley Frye are directors.
Assets | Annual Grants | Directors | Female Directors | % Female Directors |
$308.6 million | $10.5 million | 11 | 4 | 36% |
3. Foundation for the Carolinas
A community foundation, it administers more than 500 charitable funds. The foundation serves both North Carolina and South Carolina, and it has a heavily Charlotte-based board.
Assets (’97) |
Annual Grants | Directors | Female Directors |
% Female Directors |
$195.6 million | $32 million | 30 on the executive committee | 10 | 33% |
4. The Triangle Community Foundation
This community foundation funds projects in Orange, Durham, Chatham and Wake counties. It has an excellent track record funding women’s issues such as rape crisis centers, child care and teen pregnancy prevention. The emphasis is on direct services to clients. This foundation is growing quickly. All of its directors are residents of the Triangle area of the state. Sara Creagh is the president-elect of the board, and Edna Blue, Anne Liptzin, Carol Bilbro, Margaret Dardess, and Alice Horton are directors.
Assets | Annual Grants | Directors | Female Directors | % Female Directors |
$61 million | $4.3 million | 18 | 6 | 33% |
5. A. J. Fletcher Foundation
This foundation puts emphasis on the arts, social services, and education. Recipients are located in North Carolina, primarily in the Triangle area. Waltye Rasulala is the executive director.
Assets | Annual Grants | Directors | Female Directors | % Female Directors |
$43 million | $1.8 million | 11 | 3 | 27% |
6. The Duke Endowment
This endowment is one of the 15 largest foundations in the United States. Issues include child care, rural poverty and higher education. Mary Semans, Connie Gray, Juanita Kreps, and Mary Jones are directors.
Assets (’97) |
Annual Grants (’97) | Directors | Female Directors | % Female Directors |
$2 billion | $65.8 million | 15 | 4 | 27% |
7. Burroughs-Wellcome Fund
The main focus of this fund is on health and health career training. Dr. Enriqueta Bond is the president of the board, and Gertrude Elion and Mary Ellen Avery are directors.
Assets (’98) |
Annual Grants (’98) |
Directors | Female Directors | % Female Directors |
$552 million | $35.4 million | 12 | 3 | 25% |
8. The Winston-Salem Foundation
Established in 1919 by the founder of Wachovia, this is the oldest community foundation now operating in North Carolina. The foundation manages about 350 trusts, some of whose funds are designated specifically and others that leave discretion for expenditures to the foundation governing board. Anna Rind and Elizabeth Quick are directors. All board members must reside in Forsythe County.
Assets (’97) |
Annual Grants (’97) | Directors | Female Directors | % Female Directors |
$125 million | $8.7 million | 13 | 3 | 23% |
9. The Cannon Foundation
This general purpose foundation funds primarily higher education, health and hospitals. Miriam Hayes is the president of the board, and Elizabeth Quick is a director.
Assets | Annual Grants | Directors | Female Directors | % Female Directors |
$173 million | $6.6 million | 9 | 2 | 22% |
10. Kate B. Reynolds Charitable Trust
The main focus of this trust is on health. Aging, infant mortality and rural health are of interest. Joyce Adger is a director on the executive council. There are also two gender balanced advisory boards that advise the executive council.
Assets (’98) |
Annual Grants (’98) |
Directors | Female Directors | % Female Directors |
$456 million | $21.6 million | 5 | 1 | 20% |
11. The Glaxo-Wellcome Foundation
The directors are company officers. A direct giving foundation, it focuses on one area — education. The staff director to the board is Marilyn Foote-Hudson; Margaret Dardess is the board’s president, and Shirley Frye is a member of the board.
Assets | Annual Grants | Directors | Female Directors | % Female Directors |
$59 million | $2.8 million | 11 | 2 | 18% |
12. Duke Power Company Foundation
All directors are Duke Power Company employees. Grants go to the Duke Power service area and are targeted to causes supported by Duke Power Company employees. Ruth Shaw is a director.
Assets | Annual Grants | Directors | Female Directors | % Female Directors |
$17 million | $5.2 million | 7 | 1 | 14% |
13. Smith Richardson Foundation
This foundation is one of the largest in North Carolina with mostly family members on the board. The current focus is on leadership training, public policy and higher education. Adele Ray is a director.
Assets (’97) |
Annual Grants (’97) |
Directors | Female Directors | % Female Directors |
$478 million | $17.4 million | 7 | 1 | 14% |
14. First Union Foundation
All the directors of this foundation are senior bank officers. A corporate foundation, it responds to requests sent first to First Union executives, although state-wide programs can send proposals directly to the bank’s contribution coordinator. The corporation has a matching gifts program. Judith Allison is the director of First Union Contributions and a voting member of the boar
Assets | Annual Grants | Directors | Female Directors | % Female Directors |
$9.4 million | $6.2 million | 9 | 1 | 11% |
15. Janirve Foundation
This Asheville-based foundation encourages and funds innovative approaches to dealing with problems affecting a significant sector of society.
Assets (’98) |
Annual Grants (’98) | Directors | Female Directors | % Female Directors |
$71 million | $3.5 million | 7 | 0 | 0% |
16. The Wachovia Foundation
This corporate giving foundation is especially interested in funding nonprofit educational institutions and states that “initial approval and recommendations by a city executive officer of the bank is advantageous.” The corporation has a matching employee gifts program.
Assets (’97) |
Annual Grants (’97) |
Directors | Female Directors | % Female Directors |
$14.7 million | $10 million | 5 | 0 | 0% |