Letter from the Chairman and President

We are pleased to announce that on November 25, 2015, The Achelis Foundation and The Bodman Foundation merged to form The Achelis and Bodman Foundation. The Trustees took this decision after considering it for several years because we feel that it will give us greater flexibility in making investment decisions and will reduce the administrative burden that comes with preparing audited financial statements and tax returns for two foundations instead of one. We are expecting other operational efficiencies as well.

However, the merger does not imply that the Foundation will alter its grantmaking in any significant way. Our giving philosophy is unchanged and remains respectful of the wishes of our donors as stated in the original by-laws of both The Achelis Foundation and The Bodman Foundation. In addition, we will keep our focus on New York City and northern New Jersey and on the same issues that have long concerned us.

We invite you to learn more about the Foundation's Trustees and staff, history, program areas, and grant application guidelines on this website.

John N. Irwin III

Russell P. Pennoyer

March 2016