The Eisner Foundation Announces $3.2 Million in New Grants

December 18, 2008

In unprecedented economic times, L.A. family foundation makes major
commitment to community’s most at-risk citizens

Los Angeles—The Eisner Foundation today announced $3.2 million worth of new, immediate grants, in the face of economic conditions that have dramatically lowered the foundation’s assets. The new grants are targeted at groups that serve disadvantaged children and senior citizens in the county of Los Angeles. For 2008, the Eisner Foundation distributed almost $7 million to reputable and effective charities based almost exclusively in Southern California.

The newly-announced grants are effective immediately, and disbursements will be made in December of 2008, in time for some much-needed relief for many of the outstanding non-profits slated to receive Eisner funding. Recipients include the St. Vincent Senior Citizen Nutrition Program, Camino Nuevo Charter Academy, Boys Town California, The Children’s Dental Center, House of Ruth, Saint Anne’s Foundation, the Recovered Voices program at the L.A. Opera, Kidspace Children’s Museum, and California Institute of the Arts. For a full list of grantees, click here.

“We want to make sure we do all we can in this time of economic crisis to support those in our city who most need it,” said Jane Eisner, Chair of the Eisner Foundation. “We thought it was especially important to remember the arts groups this year, as we know those are often the charities that are most impacted in difficult economic times.”

Federal tax laws require that foundations disburse 5% of their assets each calendar year. Due to the falling market, the Eisner Foundation could have elected to give a much smaller amount this year than they did, but the founding family decided to keep their grant levels at the same amounts as 2006, when the markets were higher and the asset base was larger. As a result, the corpus of the foundation will fall even farther this year than anticipated, but organizations that serve the community were still able to turn to the Eisner Foundation as a potential funding source and philanthropic partner.

“The Eisner family showed today that they understand what is happening to the most vulnerable citizens of L.A. and want to do all they can to protect those who are at-risk,” said Trent Stamp, executive director of the Eisner Foundation. “It would have been easy to cut back on the amount we give this year, as our asset base has of course fallen, but the Eisners realized that now is the time we must be as generous as we can and show true leadership for our community.”

The Eisner Foundation exists to provide access and opportunity for disadvantaged children and the aging in Los Angeles County.