The other co-founder of HP wanted in on philanthropy, too. The William and Flora Hewlett Foundation seeks to “solve social and environmental problems at home and around the world.” William R. Hewlett, co-founder of the previously mentioned HP, established the foundation in 1966 with his wife and eldest son. Mr. Hewlett’s personal mantra was to “never stifle a generous impulse.” With $7.2 billion in assets, according to the Foundation Center, the Menlo Park, Calif., foundation today operates five programs in the areas of education, environment, global development and population, performing arts, and effective philanthropy. The foundation is also a significant grantmaker; $304 million was awarded in 2012, and a median grant in 2011 amounted to $125,000, according to its website. Foundation executives say it’s important to take risks in grantmaking, along with emphasizing the need to acknowledge and learn from failures in funding philanthropic ventures.
