W.R. Grace Foundation, Inc.

Overview

W.R. Grace Foundation, Inc. is a nonprofit organization based in the United States, classified as a 501(c)(3) foundation. Established in 1996, it primarily operates as a corporate foundation with a focus on philanthropic activities across diverse sectors, including health, education, arts and culture, and social welfare.

Mission and Activities

The foundation supports a broad array of initiatives aimed at improving community welfare. Its mission encompasses the following areas:

• Health and Social Welfare: Funding programs and initiatives that improve health outcomes and support social services.
• Education: Providing scholarships and educational resources, particularly aimed at children of employees of the parent company.
• Arts and Culture: Supporting organizations that promote cultural enrichment and artistic expression.
• Youth Development: Engaging in programs designed to empower young people and enhance their development.
• Environmental Initiatives: Supporting projects that focus on environmental sustainability and conservation efforts.

In its most recent fiscal year, W.R. Grace Foundation made a total of 125 grants, amounting to approximately $453,730, indicating its active role in community engagement and financial support for various causes[2][3].

Financial Information

The foundation's financial health is primarily supported through contributions and donations. In the fiscal year ending December 2023, total revenues were reported at approximately $776,579, with charitable disbursements accounting for a significant portion of its expenditures[1][3]. Notably, the foundation does not pay compensation to its officers, reflecting its commitment to directing funds towards its philanthropic initiatives rather than administrative costs.

Scholarship Program

The W.R. Grace Foundation administers a scholarship program aimed at supporting the educational pursuits of children of its employees. The program offers awards of $2,000 to eligible recipients, with the objective of assisting them in continuing their education at accredited four-year colleges or universities in the U.S. or Canada. This initiative underscores the foundation’s commitment to fostering educational opportunities among families associated with W.R. Grace[5].

Governance

W.R. Grace Foundation operates under a governance structure that includes a chairman and various officers, all of whom serve without financial compensation. This structure reinforces its focus on philanthropy and community service rather than profit-making[1][3].

Conclusion

W.R. Grace Foundation, Inc. exemplifies the role of corporate foundations in community engagement and philanthropic support. Through its diverse range of funding activities and commitment to social betterment, it continues to make significant contributions to various facets of society, particularly in the areas of education, health, and cultural development.