The Pittsburgh-based McCune Foundation announced that it plans to close its doors in 2029, and will focus the remainder of its $343 million on organizations doing work in western Pennsylvania.
Closure in 2029 has been the plan since banker Charles McCune established the grant maker in 1979, and the foundation’s Annual Report for 2012 details steps taken to start the final phase.
McCune ended its practice of supporting selected community foundations outside Pennsylvania, approving $80.1 million for ten grants at seven foundations (it makes those grants anonymously).
Now, McCune intends to increase its annual spending from $17 million up to $26 million, according to the Foundation Center. The foundation expects to make bigger bets on a smaller group of grantees as well.
This is potentially good news for youth serving organizations in Pennsylvania, as McCune is known to support programs for children and families. Among its most recent youth-related grants from 2012, all in Pennsylvania:
- Entrepreneuring Youth, $100,000 for its Pathway Model
- Extra Mile Education Foundation, $15,000 for a post-merger assessment
- Franklin Center of Beaver County, $50,000 for an entrepreneurship program
- Catholic Youth Association of Pittsburgh, $40,000 to improve access to a local community center
- Center for Victims of Violence and Crime, $50,000 for its Dialogue and Resolution Center
- Pittsburgh Project, $250,000 for youth programs