SOURCE: Goldseker Foundation
BALTIMORE, MD--(Marketwire - Sep 5, 2012) - The Goldseker Foundation today announced that Dr. Timothy D. Armbruster, its President of 34 years, will be stepping down from his post by the summer of 2013. Under Dr. Armbruster's leadership, the Goldseker Foundation helped to ignite Baltimore City's professional philanthropic ecosystem, and continues today as a trailblazer in the region, having granted $80 million to more than 450 nonprofit organizations and projects in the Baltimore metropolitan area. Dr. Armbruster has written an open letter about his decision to resign, which can be viewed on the foundation's website, along with a statement from the Board of Directors: www.goldsekerfoundation.org.
In light of Dr. Armbruster's approaching departure, the Goldseker Foundation is undertaking a national search for its next president with the executive search firm, Russell Reynolds Associates (www.russellreynolds.com).
Since commencing operations in 1975, the Goldseker Foundation has emerged as a role model in private philanthropy, and has grown from a young grantmaking organization to a pace-setting institution. Under Armbruster's stewardship, the Foundation became a leading advocate for neighborhood development, spearheaded collaborations across public and private sectors on initiatives from transportation to economic development, and helped nurture two of the region's central philanthropic institutions: The Association of Baltimore Area Grantmakers and the Baltimore Community Foundation. The Goldseker Foundation brings a strategic grantmaking lens that is paying off for Baltimore and its residents, and has become an institution that many other foundations and municipalities now emulate.
The Goldseker Foundation has been a long-term investor in the community and economic development of the Baltimore region, and has committed itself to transitional neighborhoods and the anchor institutions that stabilize those neighborhoods. A central component of its ongoing strategy for neighborhood revitalization has been to foster public-private-nonprofit partnerships. Notable examples include the Central Baltimore Partnership and its revival of Station North; its partnership with Johns Hopkins to build East Baltimore Life Sciences; and its ongoing collaboration with Healthy Neighborhoods, which to date has raised more than $100 million to invest in 41 Baltimore City neighborhoods. Through these and many other programs, Goldseker is a standard bearer for both philanthropy as innovation capital and patient long-term investment in change.
"On behalf of our entire Board of Directors, I want to express our sincere gratitude to Tim for his more than three decades of outstanding leadership of the Goldseker Foundation and his dedication to Baltimore," remarked Sheldon Goldseker, Chairman. "The growth and success of this foundation are indelibly linked to Tim's many strengths of character: his unswerving vision for a better Baltimore, his ability to see the big picture, his commitment to public accountability and transparency, and the patience that is required to nurture the seeds of systemic change. I will miss the almost daily conversations, which sustained this wonderful 34-year professional collaboration, and served as the basis for our valued friendship."
"For more than half my professional life, I have been given the great privilege of working to make the Baltimore area a better place for all of us to live and work," Armbruster said in a letter posted this week on the Foundation's website. "With deep thanks to a supportive board of directors and staff colleagues, we have created together an independent civic and philanthropic institution that has tried very hard to bring energy, ideas and encouragement to the region's best nonprofit organizations and civic and political leaders. It is a legacy hard won, in which I think we can take great pride."
Dr. Armbruster joined the Goldseker Foundation in 1979 as its second president, moving to Baltimore from Cleveland, Ohio where he served for six years as Secretary, Treasurer, and Program Officer with the nationally renowned Cleveland Foundation. Beginning in 1989, Dr. Armbruster served concurrently as President and Chief Executive Officer of the Baltimore Community Foundation, under an agreement affiliating its operations with those of the Goldseker Foundation. During his tenure, the Community Foundation's assets grew from $10 million to more than $100 million, and its annual grants from less than $1 million to $12 million, allowing him to return in the fall of 2000 to fulltime status with the Goldseker Foundation and direct new initiatives there.
Dr. Armbruster was graduated with a bachelor's degree in government from Franklin & Marshall College, where he was elected to Phi Beta Kappa and other honorary societies. As a graduate fellow, he also received master and doctoral degrees in public management and political science, respectively, from Case Western Reserve University. He has served on numerous boards and committees and in a leadership capacity in Baltimore, in Maryland, and nationally, encompassing the arts, urban policy and domestic and international philanthropy. For twenty years, he also served as a consultant on philanthropy and civic affairs to The Rouse Company Foundation.
"Baltimore is much the better for Tim Armbruster's work at the Goldseker Foundation," stated Ronald J. Daniels, President, Johns Hopkins University. "More important, his accomplishments will continue to be reflected in a better Baltimore for years to come. For healthier neighborhoods, more effective schools, a stronger safety net, more rational transportation, an improved capacity for collaboration and so much more, we are all in Tim's debt."
"The Goldseker Foundation under Tim Armbruster has been the catalyst for some of Baltimore's most successful cross-sector partnerships amongst government, private and nonprofit institutions," said Joseph B. McNeely, Executive Director, Central Baltimore Partnership. "The success and momentum of revitalization in Station North and other central Baltimore neighborhoods are due in no small measure to Tim's vision for collaboration, his confidence in community leadership and the Foundation's early, flexible and sustained investment. We wish him every success as he transitions from this phase of his career into the next."
About Goldseker Foundation
Since an original bequest of $11 million from the estate of Morris Goldseker in 1975, the Goldseker Foundation has granted $80 million to more than 450 nonprofit organizations and projects in the Baltimore metropolitan area. Though the focus of the Foundation's grantmaking has evolved over time, it continues to honor Mr. Goldseker's wish that the Foundation serve the Baltimore community by investing in its institutions and people.