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Foundation HistoryKey Milestones 1945: Otto and Phoebe Haas create the Phoebe Waterman Foundation in response to social problems following World War II. The Foundation provides an orderly system for the family's giving for European relief, scholarships for fatherless children, and support for medical and educational institutions. 1946: Grant payments total $2,956. 1955: Grant payments exceed $100,000. Richard K. Bennett is hired to manage the grants. 1960: Otto Haas dies, leaving the bulk of his estate to the Foundation. Mrs. Haas continues a program of regular gifts until her death in 1967. Otto and Phoebe's sons, John C. and F. Otto, head the Foundation's board. 1970: Foundation name changed to the Haas Community Fund. Annual grants are $3.5 million. 1974: Foundation name is changed to the William Penn Foundation -- selected for its association with Philadelphia. Annual grants are $7 million. 1979 - 1998: After 24 years with the Foundation, Richard K. Bennett is appointed as its first president in 1979. His successors include Bernard C. Watson and Harry E. Cerino. 1996: Marking its 50th anniversary, the Foundation makes two, one-time grants to benefit Philadelphians: $26.4 million to Fairmount Park and $18 million to the Free Library of Philadelphia. 1998: Grant payments total $47.8 million. Dr. Janet Haas, daughter-in-law of F. Otto, is appointed president in October. David Haas serves as chairman of the board and his brother, Frederick Haas, is vice chairman and secretary. 1999: Foundation assets exceed $1 billion. 2001: Foundation implements an ambitious strategic plan and revised goals and priorities are adopted for all funding categories. Kathryn J. Engebretson succeeds Janet Haas as president. 2005: Kathyrn J. Engebretson succumbs to cancer. Feather O. Houstoun is named president. Grants budget is $59 million.
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