FAQs About Grantmaking Changes
Mertz Gilmore is scaling back its grantmaking. Why?
Beginning in 1959, using proceeds from Publishers Clearing House (PCH), a business the family started in their basement, Joyce Mertz and her parents, LuEsther and Harold, founded the Mertz Gilmore Foundation.
Early trusts were set up by the three to provide an income flow from PCH to the Foundation. In 1984, an endowment was established for the Foundation under the will of Joyce Mertz Gilmore, and supplemented by an additional gift by Elizabeth Gilmore in 1990 from the estate of Robert Gilmore.
Since then, grant making budgets have been based on a combination of endowment assets under management and annual income provided by the family-based trusts.
Starting in 2023 the Foundation is no longer receiving income from the trusts, and therefore will be setting grant budgets based only on endowment levels.
How is grantmaking changing, specifically?
Mertz Gilmore will be facing budget cuts in all program areas. We are actively communicating specific grantmaking updates to all of our grantee partners.
Overall, the grantmaking budget will go from approximately $12 million in 2023 to $7 million in 2024, with potential additional budget cuts in the future.
In order to continue to support our partners, we are working to better understand what our impact can be as a foundation given the financial realities.
Are there other resources, financial or otherwise, that Mertz Gilmore plans to use to support its partners and the field?
Yes, the Foundation has always understood that in addition to financial resources, relationships help drive and sustain the work of our grantee partners. We are exploring ways to support our grantee partners to continue to build their capacities for change.
Additionally, Mertz Gilmore will be moving toward becoming fully mission aligned so that the Foundation’s investments, like our grantmaking dollars, can go toward supporting and building the world we need. The current work to align our investments with our values does not come at the expense of our grant making budgets.
Will MGF continue to partner with other funders and nonprofits to advance systemic change?
Yes, the Foundation has always partnered with colleagues in philanthropy and our grantee partners, as well as organizations and leaders in the field. We believe collaboration and partnership are critical approaches to building strong relationships and creating long term change.
The Foundation already partners and supports a variety of funder-field collaboratives and pooled funds. This approach will continue to be an anchor in our work.
What’s not changing?
Our work would not be possible without our partners, both those we fund, and the wider network of changemakers we work alongside.
Mertz Gilmore is committed to being transparent with our partners and the wider field – even when we don’t yet have all the details.
Our relationships and resources are deeply connected and are parts of the wider ecosystem we all work in.
