Carnegie Corp. of New York

Carnegie Corp. of New York

Carnegie Corp. of New York

Overview
Date Founded

1911

Charitable Causes

Education Research & Support

Industries

Social Interest
Investment Services & Portfolio Management

Company Description

Andrew Carnegie envisioned Carnegie Corporation as a foundation that would “promote the advancement and diffusion of knowledge and understanding.” In keeping with this mandate, our work incorporates an affirmation of our historic role as an education foundation but also honors Andrew Carnegie's passion for international peace and the health of our democracy. While Mr. Carnegie’s primary aim was to benefit the people of the United States, he later determined to use a portion of the funds for members of the British overseas Commonwealth. Currently, this area of our grantmaking focuses on selected countries in sub-Saharan Africa. Real and permanent good in this world Mr. Carnegie dedicated his foundation to the goal of doing “real and permanent good in this world” and deemed that its efforts should create “ladders on which the aspiring can rise.” In our current-day grantmaking we continue to carry out this mission through programs and initiatives that address today’s problems by drawing on the best ideas and cutting-edge strategies that draw strength from deep knowledge and scholarship. History guides us and the present informs us, but our work looks always toward the future. In perpetuity Mr. Carnegie served as the Corporation’s first president. His intention, clearly spelled out in his Deed of Gift, was for the foundation to carry out its philanthropic work in perpetuity, so that “even after I pass away the [wealth] that came to me to administer as a sacred trust for the good of my fellow men is to continue to benefit humanity for generations untold…” Responding to changing needs At the time of its creation, Andrew Carnegie’s vision for the work of the Corporation was unique in that he understood that as the decades passed, the issues of his day would be incorporated into or supplanted by concerns that more immediately affected future generations. Planning for that certainty, he wrote, “Conditions upon the [earth] inevitably change; hence, no wise man will bind Trustees forever to certain paths, causes or institutions.” Therefore, he gave his trustees “…full authority to change policies or causes hitherto aided, from time to time, when this, in their opinion, has become necessary or desirable. They shall best conform to my wishes by using their own judgment.” Scientific philanthropy Through nearly one hundred years of grantmaking, the Corporation has applied what Andrew Carnegie called the principles of “scientific philanthropy” to changing times while always working in harmony with the historical mission and legacy of the foundation. Our unremitting efforts remain focused on the two issues that Andrew Carnegie considered of paramount importance: international peace and the advancement of education and knowledge.

Contact Data
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Executives & Employees

Vice President & Chief Financial Officer

Vice President & Chief Investment Officer

Chief Communications & Digital Strategies Officer

Chief Human Resources Officer

Managing Director, Investments

Managing Director, Investments

Managing Director, Investments

Program Director, US Democracy & Special Opportunities Fund, National Program

Vice President International Program Director, Russia & Eurasia

Program Director, International Peace & Security

Board of Trustees

Director/Executive Vice President at The New York Times Neediest Cases Fund

President at Carnegie Corp. of New York

Former Vice Chairman at Legal Services Corporation

Former Ambassador to Japan at United States Department of State

Former President & Chief Executive Officer at Fiduciary Trust Co. International

Founder at Gbowee Peace Foundation Africa

Managing Editor at Public Broadcasting Service

Former President & Chief Executive Officer at International Crisis Group

Writer at Senior-Media.com

Former Governor of New Jersey

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Carnegie Corp. of New York
Advisors & Consultants
Investment Advisor

SAM uses a value-oriented, long-term, bottom-up stock selection process. Their research team appraises businesses by studying financial statements, regulatory information, trade publications, and other industry and corporate data, and by talking with corporate management, competitors, and suppliers. They use two methods for their appraisal: (1) they seek to assess the company's liquidation value based on the current economic worth of corporate assets and liabilities; and (2) they seek to determine the company's ongoing value based on its ability to generate free cash flow after required capital expenditures and working capital needs. In selecting investments they look for companies with strong business and good people.

Investment Advisor

Bares Capital Management manages client accounts in long-only concentrated small-cap and mid/large-cap equity strategies. In these strategies, they primarily invest in the equity of publicly-traded US companies. US. Bares Capital's typical client in these strategies utilizes a number of other managers that specialize in investment strategies that differ from the firm's strategies. This diversification at the manager level alleviates Bares Capital from the need for a diversified portfolio in the traditional definition and allows them to remain invested in 8-12 of their best investment ideas in each small-cap and mid/large-cap portfolio. The firm identifies candidates for investment using fundamental research. They consider the financial condition of the candidate as well as qualitative factors relevant to the future performance of the candidate. The firm's qualitative research focuses on the competitive aspects of the business under consideration and an evaluation of management capability. On occasion, investments may include the debt of publicly traded companies, mutual funds and ETFs.

Investment Advisor

Asset Value Investors (AVI) is an employee owned asset management company. Our primary goal is to achieve the long-term growth of our client's capital through the management of a global stock portfolio. We strive to be a premier investment firm providing consistently superior performance by identifying valuation anomalies and focusing on investing where the market price does not reflect the estimated intrinsic value. Our distinct value oriented and low risk investment approach, which has been in place for nearly 25 years, is to find undiscovered value among high quality assets. AVI - investment philosophy Buy companies on substantial discounts to net asset value investment holding companies on wide discounts companies with a strong balance sheet and good quality of underlying assets seek anomalies under-researched situations situations where the underlying assets are not recognized or are misunderstood by the market As at 31 December 2012 Funds under management total over £1.4 billion ($2.2 billion).

Advisor

Chief Investment Officer at Yale University

Consultant

Former Chief Executive Officer at Girl Scouts of the USA

Consultant

Faculty Member at Columbia University - College of Physicians and Surgeons

Non-Profit Donations & Grants
Non-Profit Donations & Grants Received
$20M
07/15/2005
$15M
04/2004
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