Commitment to our Philanthropic Values
Through the application of core values of responsiveness, transparency, accessibility, fairness and excellence, the Annenberg Foundation is committed to the funding of worldwide organizations and projects that have a deep level of community involvement and tackle challenging and timely problems. Furthermore, the Foundation encourages the development of effective ways to share ideas and knowledge.
Board of Directors
From its founding in 1989 through 2002, the Annenberg Foundation was led by the late Ambassador Walter H. Annenberg. The Honorable Leonore Annenberg served as Chairman of the Board from 2002 until her passing in 2009. Today, the Foundation is governed by a Board of Directors comprised exclusively of Annenberg family members. The Board of Directors consists of Wallis Annenberg, Chairman, President & CEO, and three of her adult children: Lauren Bon, Gregory Annenberg Weingarten and Charles Annenberg Weingarten – all of whom serve as Co-Directors and Vice Presidents.
Articles of Incorporation
Formerly known as The Annenberg School of Communications, the Annenberg Foundation was renamed effective July 1, 1989. The School of Communications was incorporated as a nonprofit corporation in the Commonwealth of Pennsylvania in October 1958.
Upon changing its name and amending its Articles of Incorporation, the Foundation also expanded its mission to permit disbursements of funds for general educational, scientific, literary and other charitable purposes. The Internal Revenue Service determination letter dated December 19, 1989 reflected this change in status to a private foundation as defined in section 509 (a) of the Internal Revenue Code.
The corporation operates as a nonprofit foundation by adhering to the Annenberg Foundation Bylaws, amended and restated on November 30, 2011. This essential document provides clear rules and regulations of the foundation’s affairs and its board. Also outlined here are committees within the Board that further governs its activities.
Administration Committee Charter: This committee creates guidelines for setting compensation and employee benefits for the senior officers and employees of the Foundation. Its members are Wallis Annenberg, Lauren Bon and Charles Weingarten.
Audit Committee Charter: This committee provides general oversight of the Foundation’s accounting and financial reporting processes, audits of financial statements, internal control and audit functions. Its members are Keith Renken, Lydia Kennard and Noel Massie.
Investment Committee: This committee establishes investment objectives and policies, selects the appropriate types of assets and managers and reviews and evaluates the performance of the investment funds. Its members are Wallis Annenberg, Anthony H. Browne, Peter Stein, Kathleen L. Brown and Paul Manganiello.
Beyond the governance at the board level, the Foundation has operational policies that ensure proper conduct.
Code of Ethics: This policy guides the Foundation’s business practices in support of its values and vision.
Conflict of Interest: The Foundation holds a special obligation to uphold the public trust.
Diversity & Equal Employment Opportunity: The Foundation values diversity and is committed to the principles of equal opportunity.
Whistleblower Policy: The Foundation upholds this policy for reporting concerns about the legality or propriety of Foundation actions or plans.
Photo credit: Smoke, Photo by Steve Cohn, Los Angeles Country Museum of Art