PRESIDENT'S LETTER

The Fletcher Jones Foundation emphasizes grants to private colleges and universities in California.  We are particularly interested in making transformative grants that will advance our grantees’ progress and have lasting benefit.  Our founder, Fletcher Roseberry Jones (1931-1972), left several legacies. Those include his company, the Computer Sciences Corporation, and The Fletcher Jones Foundation, which he and our longstanding first president, John Pollock (1921-2017), established in 1974.  

The Foundation is pleased to honor their legacy by expanding our Board to include two new members.  It is my pleasure to welcome Siobhan Burke, retired partner at Paul Hastings LLP, and Ashwin Adarkar, managing partner for Southern California at McKinsey & Company. 

The Foundation’s Investment Committee is dedicated to sensible asset allocation and carefully reviews our strategy on a regular basis with capable outside advisers.  Our intention is to grow the Foundation’s assets through investment returns after distributions.  The preliminary market value of the Foundation’s assets at year-end was $166.3 million. 

From its inception, with initial assets of $22 million, through the end of 2023 the Foundation has awarded over $267 million through almost 3,000 grants.  In 2023, grants totaled $7,425,000, with grant requests far exceeding funds available for distribution.  Regular grants awarded ranged from $100,000 to $1 million.  The Board also authorized some smaller, directed grants to outstanding organizations. 

The Foundation’s Trustees continue to honor the legacy of our founder and our first president.  I am grateful for their dedication and counsel and look forward to our continued good work together in 2024. 

Best,

Peter K. Barker, President
March 2024