After considering a possible move, the John Templeton Foundation will stay at its West Conshohocken headquarters, albeit in a reduced amount of space, writes Natalie Kostelni for the Philadelphia Business Journal.
The philanthropic organization signed a new lease at its current location at 300 Four Falls for 33,698 square feet.
This reduced the amount of space it previously occupied on the fifth and sixth floors by nearly 25,000 square feet. The foundation’s 72 employees will now all be housed on the fifth floor.
“We decided to shift from having offices on two floors to one floor because our old offices no longer met our needs,” said Karen Miller, CFO at the foundation. “A key part of our philanthropic mission is to foster dialogue across different disciplines and perspectives, and we felt that having the staff together on one floor would be more conducive to the kind of collaboration that we support.”
Templeton has been in the building for the last 16 years. The Foundation has $2.8 billion in assets and it distributed $115 million in grants in 2018. This put it among the 25 largest grant-making foundations nationwide.
Read more about the John Templeton Foundation at the Philadelphia Business Journal by clicking here.