The Wallace Alexander Gerbode Foundation will restructure after 40 years of grantmaking in the Bay Area and Hawaii. Beginning March 1, 2016, the foundation will split its assets so that the next generation can focus on their giving interests. Half of the foundation's assets will stay with the original foundation while the other half will be split among three new foundations.
The foundation's philanthropic goals and achievements are outlined in a press release issued today. From the press release: The restructuring of the Gerbode Foundation will mark a change but not an end to the family’s tradition of giving. The family will take the remainder of 2016 to pause and reflect on how best to maintain and build on their considerable legacy. Information will be updated on the website as it becomes available.
The press release can be downloaded from the foundation's website.