McCune Foundation Mulls Return to Grant Making
June 3, 2009 | Read Time: 1 minute
A year after essentially freezing donations, Pittsburgh’s financially battered McCune Foundation is considering a return to giving grants, reports the Pittsburgh Tribune-Review.
The McCune board will decide at a June 15 meeting whether to resume taking grant requests. The foundation, one of the Pittsburgh area’s largest, has seen its assets decline from $650-million to $350-million in the past year and a half, largely due to the stock market plunge.
The foundation, which gave away $27.3-million last year, expects to pay out about $20-million this year, its executive director, Henry Beukema, said. “We’re just waiting for the market to help us and everybody else,” he said.
