Moses H. Cone Foundation

Moses H. Cone Foundation
Name	Moses H. Cone Foundation
Formation	1958
Type	Philanthropic foundation
Headquarters	Greensboro, North Carolina
Region served	North Carolina
Leader title	President
Leader name	Steven R. Petty (example)
Endowment	$500 million (approximate)

Moses H. Cone Foundation

The Moses H. Cone Foundation is a private philanthropic foundation based in Greensboro, North Carolina established in the late 1950s to support health, human services, and community development across North Carolina. It was created through the estate of textile industrialist Moses H. Cone and has awarded grants to a wide range of nonprofit organizations, hospitals, colleges, and cultural institutions. The Foundation has interacted with regional entities such as Duke University, Wake Forest University, UNC Health Care, Elon University, and local government bodies in Guilford County while participating in national funding networks like the Council on Foundations and collaborating with public funders including the North Carolina Department of Health and Human Services.

History

The Foundation traces origins to the estate planning of Moses H. Cone, a figure associated with the late-19th and early-20th-century textile industry and industrial philanthropy in the American South; its founding in 1958 coincided with a period of philanthropic growth that involved peers such as the Rockefeller Foundation, the Carnegie Corporation of New York, and the Ford Foundation. Early trustees included members of prominent regional families and executives from textile firms that operated in places like Gastonia, North Carolina and Wilkes County, North Carolina. Throughout the latter 20th century the Foundation adapted to policy shifts influenced by federal initiatives such as the Medicare expansion and state reforms emanating from the North Carolina General Assembly, redirecting funding toward hospital infrastructure, community health centers associated with Community Care of North Carolina, and educational programs at institutions like North Carolina A&T State University and Appalachian State University.

Mission and Programs

The Foundation’s mission emphasizes improving health outcomes, strengthening nonprofit capacity, and expanding access to cultural and civic resources across North Carolina. Programmatic areas have included support for public health clinics associated with Cone Health, workforce development projects linked with Central Piedmont Community College-style partnerships, and arts funding to organizations such as the Guilford County Schools arts initiatives and regional museums like the Greensboro Science Center and the Weatherspoon Art Museum. Collaborative initiatives have ranged from technical assistance provided to intermediaries such as the Foundation Center and National Council of Nonprofits to targeted investments in initiatives coordinated with organizations including United Way of North Carolina and the Local Initiatives Support Corporation.

Grants and Funding Priority Areas

Grantmaking has prioritized a set of core areas: health care access (including support for hospital systems and community clinics), behavioral health services tied to entities like the Mental Health Association of North Carolina, capacity building for nonprofits working in rural and urban communities such as High Point, North Carolina and Asheville, North Carolina, and cultural programming through partnerships with performing arts organizations like the Greensboro Symphony and the Carolina Theatre. The Foundation has also provided capital grants for facility expansion at institutions such as Moses Cone Hospital affiliates, research funding at universities like University of North Carolina at Chapel Hill and North Carolina State University, and pilot support for cross-sector collaborations with public agencies including the North Carolina Department of Public Instruction.

Governance and Leadership

The Foundation is overseen by a volunteer board of trustees drawn from the region’s civic, business, and nonprofit leadership. Trustees and officers have included executives from regional corporations, law firms, and health systems who interface with statewide bodies such as the North Carolina Bar Association and the North Carolina Chamber of Commerce. Day-to-day operations are managed by a small staff of program officers, grants managers, and a president or executive director who liaise with finance professionals, auditors, and investment advisors tied to institutions like Wells Fargo or Bank of America for endowment management. Governance practices incorporate grantmaking policies consistent with guidance from the Internal Revenue Service for private foundations and best practices advocated by the National Center for Family Philanthropy.

Impact and Notable Initiatives

The Foundation’s impact includes capital investments that expanded clinical capacity in regional health systems, philanthropic support that strengthened behavioral health access in partnership with community mental health providers, and seed funding that enabled educational programs at historically Black institutions including North Carolina Central University. Notable initiatives have supported regional responses to public health crises coordinated with North Carolina Department of Health and Human Services, multi-year investments in nonprofit capacity building implemented with intermediaries like The Duke Endowment-style collaborators, and cultural grants that bolstered venues hosting performances connected to touring organizations such as the North Carolina Symphony. The Foundation’s grantmaking has been cited in local reporting by outlets including the Greensboro News & Record and has been recognized in community philanthropy studies conducted by research centers at universities such as Duke University and University of North Carolina at Chapel Hill.

Financials and Endowment

Financial stewardship relies on an endowment invested across diversified portfolios managed by external advisors and custodial banks; distributions follow IRS private foundation rules for minimum annual payouts. Annual grants totals and asset values have fluctuated with market conditions affecting peers such as the Bill & Melinda Gates Foundation and regional funders, while audited financial statements prepared by accounting firms and reviewed by auditors conform to standards promoted by the American Institute of Certified Public Accountants. The Foundation’s fiscal practices include grant agreement provisions, conflict-of-interest policies, and periodic evaluations of program outcomes often conducted with academic partners from institutions like Elon University and Wake Forest University.

Category:Foundations based in the United States Category:Philanthropy in North Carolina