New York City -- Altman Foundation is pleased to announce the election of a new Chairman of the Board, the Honorable James M. Burke, succeeding Jane B. O’Connell, who has been Chair since 1995. Ms. O’Connell was elected Chair Emerita and will remain a board member. Judge Burke spent 33 years in public service as a Criminal Court Judge in New York City and as an Assistant District Attorney in Manhattan. He holds a B.A. and a J.D. from Georgetown University. He has been an Altman Foundation trustee since 1997.
Jane O’Connell was elected to the Board of the Altman Foundation in 1978. In addition to serving as Chair, Ms. O’Connell was also President from 1995 to 2018. Under her leadership, the Foundation strengthened its commitment to the Foundation’s four core areas — health, education, social services and community building, and the arts, while adapting its program interests in response to the changing needs of New Yorkers. It also incorporated support for the infrastructure needs of local nonprofits. The Foundation increased its funding for general operating support, multi-year grants, and capacity building projects, with the goal of helping to build enduring institutions; and added Program Related Investments and Mission Related Investments to its toolbox.
Ms. O’Connell has served on the boards of a number of organizations whose efforts focus on the underserved. In addition, her leadership on the board of Philanthropy New York helped to build connections across foundations, inclusive of staff and trustees, and encouraged collaborative efforts to tackle tough issues and mount more ambitious responses.
Reflecting on her tenure at Altman she commented, “It has been a privilege to lead this venerable 112-year-old Foundation through such a period of growth and to see the impact of our investments. I am grateful to the many dedicated trustees and staff who have helped to sustain the mission and articulate Altman’s vision. As the needs of the city and its diverse population evolve with the times, the Foundation continues to seek programs that alleviate poverty, advance opportunity, and improve the quality of life. Each funded organization contributes in meaningful ways to the lives of individuals and communities, and they are all undergirded by the dedication of extraordinary networks of staff, trustees, volunteers, and donors who make up the not-for-profit New York City community. I am thankful for the many people who supported me on this journey. It has been an honor and an adventure.”
Further reflecting on the period, Ms. O’Connell continued, “The local not-for-profit sector expanded significantly and become more influential. As the Foundation’s endowment grew substantially and allowed for more and larger grants, we, like other funders seeking to have impact, needed to become more strategic in our grantmaking. Finally, it is important to remember that self-reflection and change are essential if a foundation is to serve its grantees and community well. Acknowledging “what’s worked” to date while being willing to push past our own boundaries is fundamental to creative and good philanthropy.”
James M. Burke, the incoming Chairman noted, “Jane O’Connell is a remarkable leader. She has taught us all that the secret recipe to keeping the Altman Foundation current and modern is paradoxically to always go back to Benjamin Altman’s stated wishes from 1913 as the guiding light into the future.”
About the Altman Foundation
The Altman Foundation was created in 1913 under the will of Benjamin Altman. Altman founded the iconic and beloved department store B. Altman & Company in the early 20th century and built the landmark building at 34th Street and 5th Avenue. Benjamin Altman was deeply committed to the welfare of New Yorkers, focusing his philanthropy on health, education, and the arts. Although the Foundation relinquished ownership of the department store in 1985 due to tax reform laws, it has continued to uphold Altman’s values of generosity and service. The Altman Foundation’s mission, to enrich the quality of life in New York City through support for programs and institutions that advance opportunity and equity for individuals, families, and communities.
The Altman Foundation has made significant contributions to New York City’s not-for-profit sector. In 2024, it awarded over $13 million in grants to local organizations. Since its inception in 1913, the Foundation has made 6,535 grants totaling over $400 million, supporting initiatives in education, health, community-building, and arts and culture. Continuing Altman’s legacy, these efforts have helped innumerous residents achieve personal and community goals and have contributed to the city’s vibrancy.