The Heckscher Foundation for Children
A New York City-focused private foundation that funds programs and partnerships aimed at improving opportunities for underserved children and young people.
Last updated August 26, 2026
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Overview
The Heckscher Foundation for Children is a New York City-focused private foundation established in 1921 by August Heckscher, a German-born industrialist, financier, and philanthropist. Its work is directed toward children and young people who face economic and social barriers, with the broad objective of making opportunity more equal for underserved youth. Rather than operating primarily as a consumer-facing service brand, the foundation functions as a grantmaking institution: it supports nonprofit programs, organizational capacity, general operations, partnerships, and initiatives designed to produce durable improvements in young people's lives. The foundation's philanthropic approach is commonly described as venture philanthropy centered on funding at important inflection points. It looks for obstacles that can prevent disadvantaged children and young adults from reaching their potential and seeks moments when a well-designed intervention, partnership, or investment could alter a participant's trajectory. Its grantmaking is organized around four broad methods. Catalytic giving supports promising ideas that may have wider application but are not yet sufficiently developed or scaled to attract major private or public investment. Strategic partnerships encourage cooperation among nonprofit organizations, foundations, businesses, public agencies, and other institutions whose capabilities or objectives overlap. Targeted problem solving focuses on clearly defined barriers to equal opportunity and backs practical efforts to test solutions. Proven models provide continuing support to organizations whose effectiveness and long-term value have been demonstrated over time. The foundation's areas of interest include education, employment preparation, job skills, youth development, and innovative approaches to social services and revenue generation. Its support can take the form of program funding, capacity-building assistance, or general operating support, allowing grantee organizations to strengthen both individual initiatives and the infrastructure needed to deliver them. The emphasis on partnerships and scalable solutions distinguishes the foundation from a purely traditional donor that distributes grants without seeking broader systems effects. Its history began with a physical community-oriented facility. In response to a request from the Society for the Prevention of Cruelty to Children for assistance in purchasing a bus, August Heckscher donated a Manhattan property on Fifth Avenue between 104th and 105th Streets. The site opened as the Heckscher Foundation for Children in 1922 and provided housing for children as well as community activities. During the Great Depression, the foundation's assets deteriorated severely, bringing it close to collapse. Arthur and Ruth Smadbeck subsequently helped rebuild the institution and shaped its long-term operating and philanthropic model. Ruth Smadbeck became one of the foundation's most influential leaders. Beginning as a volunteer in the 1930s, she oversaw the organization for more than five decades and developed a broad program of community activities, including dance, orchestra, exercise, swimming, kindergarten, theater, crafts, photography, a library, a thrift shop, and support for children in need. Later leadership concentrated on restoring the foundation's financial base and expanding its ability to make grants beyond its own facilities. By the 1990s, a new generation of the Sloane family had assumed leadership, and Howard Sloane became chairman and chief executive. The foundation remains an active philanthropic institution serving New York City youth.
History
The Heckscher Foundation for Children was created in 1921 by August Heckscher, a German-born industrialist and philanthropist whose charitable interests included children and community welfare. The foundation's early institutional form developed from Heckscher's response to the Society for the Prevention of Cruelty to Children's request for help acquiring a bus. He donated a property on Fifth Avenue between 104th and 105th Streets in Manhattan, and the site opened in 1922 as the Heckscher Foundation for Children. It offered housing for children and a range of community activities, making the foundation an operating presence as well as a philanthropic entity. The Great Depression placed severe pressure on the foundation's assets and brought it close to financial collapse. August Heckscher turned to Arthur and Ruth Smadbeck, associates who shared his commitment to public service and had the resources and financial experience to help stabilize the organization. After Heckscher's death in 1941, the foundation's finances remained too weak to support charitable distributions. Arthur Smadbeck devoted the period from 1941 until his death in 1977 to restructuring the institution: he disposed of unproductive assets, consolidated holdings, and worked to establish a profitable financial base that could eventually support substantial charitable giving. Ruth Smadbeck played a central role in the foundation's programmatic and administrative development. She began as a volunteer in the 1930s and led the foundation for more than fifty years. Under her direction, its activities included dance, orchestra, physical exercise, swimming, kindergarten, theater, crafts, photography, a library, a thrift shop, a senior lounge, and the purchase and distribution of necessities for children experiencing poverty. Her tenure connected the foundation's original community-facility model with a broader understanding of youth services and neighborhood support. After Ruth Smadbeck died in 1986, Louis Smadbeck became chairman, serving until his death in 1992. Virginia Sloane was elected president in 1986 and directed the foundation's philanthropic work for approximately a quarter century. She became president emeritus in 2012 and died in 2014. In 1997, a new generation assumed leadership responsibilities, with Howard Sloane becoming chairman and chief executive officer. The foundation's later development has been marked by expanded assets, larger charitable distributions, and a greater focus on grants to outside organizations. In its modern form, the foundation describes its work through a venture-philanthropy framework. It seeks inflection points at which targeted support may change the longer-term prospects of underserved youth. Its four principal grantmaking categories are Catalytic Giving, Strategic Partnerships, Targeted Problem Solving, and Proven Models. These categories encompass early or potentially scalable ideas, cross-sector collaborations, focused responses to defined barriers, and organizations with established records of effectiveness. Current priorities include education, job preparation, youth opportunity, and approaches that combine innovation with positive long-term outcomes. The foundation remains focused primarily on New York City rather than operating as a nationwide or international grantmaker.
- 2012
Virginia Sloane became president emeritus
[1]After approximately twenty-five years directing the foundation's philanthropic projects, Virginia Sloane became president emeritus.
- 1997
New generation assumed leadership
[1]A new generation of the Sloane family assumed leadership roles, with Howard Sloane becoming chairman and chief executive officer.
- 1992
Louis Smadbeck's chairmanship ended
[1]Louis Smadbeck died after serving as chairman from 1986.
- 1986
Leadership transition
[1]Louis Smadbeck became chairman and Virginia Sloane became president following Ruth Smadbeck's death.
- 1977
Arthur Smadbeck died
[1]Arthur Smadbeck's death ended a multi-decade effort to consolidate assets and create a sustainable financial platform for philanthropy.
- 1941
Financial rebuilding period began
[1]Following August Heckscher's death, Arthur Smadbeck undertook a long-term effort to restructure assets and rebuild the foundation's capacity for charitable distributions.
- 1930
Ruth Smadbeck began long-term service
[1]Ruth Smadbeck began volunteering with the foundation during the Depression era and later became its principal long-term administrator.
- 1922
Manhattan facility opened
[1]A donated Fifth Avenue property between 104th and 105th Streets opened as the foundation's facility, providing housing for children and community activities.
- 1921
Foundation established
[1]August Heckscher founded the Heckscher Foundation for Children to advance charitable work benefiting children.
Products and positioning
A venture-philanthropy-oriented funder focused on New York City children and young adults, with an emphasis on inflection-point investments, measurable opportunity gains, organizational strength, collaboration, and solutions that can endure or scale.
Product categories. Grant funding · Capacity-building support · General operating support · Strategic philanthropic partnerships · Youth development and education initiatives
Brand decisions
- Adoption of an inflection-point grantmaking strategyStrategy
Background
The foundation's modern grantmaking model seeks points at which funding can address barriers facing underserved youth and improve longer-term outcomes.
Action taken
It organized its philanthropic work into Catalytic Giving, Strategic Partnerships, Targeted Problem Solving, and Proven Models.
Aftermath
The approach positioned the foundation as a venture-philanthropy-oriented funder supporting innovation, collaboration, targeted interventions, and established programs.
Sources2 sources
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