SOURCE OF WEALTH: Capital Group Companies
FUNDING AREAS: Policy & Global, Jewish Causes, Education & Youth, Arts & Culture, Health & Human Services
OVERVIEW: Walter Stern and family conduct their philanthropy through the Walter P. & Elizabeth M. Stern Foundation, which according to available tax filings, gave away a little under $375,000 in 2018. The family’s giving focuses on the Northeast, particularly New York and its suburbs. Stern sits on the board of the Hudson Institute, whose board his daughter chairs. Jewish causes are another interest.
BACKGROUND: Walter P. Stern received a bachelor’s degree from Williams College and an MBA from Harvard University. Stern was a senior executive vice president and director of Drexel Burnham & Co. in New York, where he was responsible for research, institutional sales and investment management. He went on to join Capital Group Companies.
ISSUES:
POLICY & GLOBAL: Walter Stern sits on the board of The Hudson Institute, and his daughter Sarah is the chair. The family, via their foundation, has supported the outfit, as well as places like Investigative Project On Terrorism, American Center for Democracy, Manhattan Institute, Washington Institute for Near East Policy (Stern is a vice president), Council on Foreign Relations, Center for Security Policy, American Enterprise Institute, and East West Institute.
JEWISH CAUSES: The Sterns support Jewish organizations, particularly in New York. Grantees have included The Jewish Museum, Jewish Family Services, Westchester Reform Temple, UJA Federation of NY, and Jewish Federation of Nashville. Note that the family has ties to Nashville.
EDUCATION & YOUTH: Grantees have included Alumni Fund Williams College, Harvard Business School, and Westchester Community College Foundation.
HEALTH & HUMAN SERVICES: Stern and family have supported places like United Way of Westchester and Westchester Institute for Human Development, which “addresses major social and health issues by developing and delivering medical, clinical and support services to individuals, their families and caregivers.”
LOOKING FORWARD: Expect Stern to continue to steadily fund his select interest areas. Sarah Stern is someone to watch carefully in the coming years, as well.
CONTACT:
The Walter P. & Elizabeth M. Stern Foundation accepts applications at this address
Walter P. Stern
c/o Marcum LLP
450 Fort Hill Rd.
Scarsdale, NY 10583
E-mail: wps@capgroup.com
