Why S&R Foundation is spinning off Halcyon

Washington Business Journal

By Sara Gilgore

A new nonprofit was just launched in Washington. But it’s not starting from scratch.

D.C.-based S&R Foundation — which supports artists, scientists and social entrepreneurs — is creating a new organization called Halcyon and spinning off most of its programs under that umbrella. Kate Goodall, who has served as S&R’s chief operating officer, will lead Halcyon as its CEO.

Goodall told me the new organization will be able to tap new resources so it doesn’t have to rely on one foundation. “S&R’s assets could only support us to a certain point,” she said.

It also will allow all of the programs to be rebranded under one name for clarity.

“We felt like it was too good an opportunity to not really create an organization where [Halcyon] was the keyword, where that was what we were known for, and then applying throughout all of the program nomenclature,” Goodall said.

Halcyon will operate out of the Halcyon House at 3400 Prospect St. NW in Georgetown. It will include the Halcyon Incubator, S&R’s flagship residence fellowship, and the Halcyon Arts Lab, the arts program that will live in the historic Fillmore School building currently under renovation. S&R is donating both properties to the new nonprofit, Goodall said. The Halcyon Stage performance series and the Halcyon Dialogue discussion series will also run within the new organization.

About 11 employees — the bulk of S&R’s team — have moved over to Halcyon.

S&R will return to being a small private foundation, just as envisioned when it was founded in 2000. The small foundation began to change in 2012 when it took a more public and international philanthropic role.

In 2015, S&R had about $2.27 million in revenue, with about $2.63 million in expenses. Halcyon’s operating budget for 2017 is $4 million, according to Goodall.

Co-founder Sachiko Kuno will continue to serve as S&R’s president and CEO. Its other co-founder, Ryuji Ueno, is no longer on the board of S&R, but runs the Ryuji Ueno Foundation, which absorbed S&R’s Evermay Concert Series. The former husband-and-wife team, named Washington Business Journal’s Philanthropists of the Year in 2015, divorced last year.

Halcyon’s founding board includes people who have worked with S&R over the years and members of WE Capital, a women-led consortium investing in women-led startups, co-created by Kuno. Halcyon is also supported by an honorary board expected to continue to grow over the year.

Halcyon is gearing up for the launch of Halcyon Arts Lab. Applications for that program, along with those for the Halcyon Incubator’s seventh cohort, open March 7. The Fillmore School building’s renovation is slated to be complete by Sept. 15, Goodall said, and its classes are scheduled to begin Oct. 1. The team is also considering franchising the Halcyon Incubator and bringing its model to different continents.

Original Article