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Harriet And Warren Stephens Family Foundation

Annual Giving
$25.2M
Grant Range
Up to $25.0M00
00

Harriet And Warren Stephens Family Foundation

Quick Stats

  • Annual Giving: $25,167,694 (2023)
  • Total Assets: $63.7 million
  • Decision Time: N/A (invitation only)
  • Grant Range: Varies significantly (major gifts in the millions)
  • Geographic Focus: Primarily Arkansas, with some grants in Virginia, North Carolina, and Washington D.C.

Contact Details

Location: Little Rock, AR
EIN: 26-1634531
Established: 2007 (tax-exempt status granted February 2010)

Note: No public website, email, or phone number is available. The foundation does not accept unsolicited requests for funds.

Overview

The Harriet And Warren Stephens Family Foundation was established in 2007 as a private independent foundation based in Little Rock, Arkansas. Managed by trustees Warren A. Stephens and Harriet C. Stephens (who serve without compensation), the foundation holds assets of $63.7 million and distributed $25.17 million in grants during 2023. The foundation focuses its charitable giving on the arts, education, and healthcare, with a strong emphasis on Arkansas institutions. Recent activity shows the foundation made 4 awards in 2023, 1 award in 2022, and 3 awards in 2021. The foundation operates on an invitation-only basis, making contributions exclusively to preselected charitable organizations that align with the trustees' long-standing philanthropic interests.

Funding Priorities

Grant Programs

The foundation does not operate formal grant programs with published guidelines. Instead, it makes strategic gifts to institutions where the trustees have deep personal involvement and governance roles.

Application Method: Invitation only / trustee discretion

Priority Areas

Based on publicly disclosed grants and the trustees' board involvement, the foundation prioritizes:

  • Arts & Culture: Major support for museums, performing arts venues, and cultural institutions
  • Education: Significant funding for independent schools and universities, particularly at the K-12 and higher education levels
  • Healthcare: Support for medical research and aging-related services
  • Youth Development: Involvement with organizations serving children and youth

Recent Major Grants Include:

  • Episcopal Collegiate School: $25 million (2023) to commemorate the school's 25th anniversary and enhance long-term sustainability
  • Arkansas Museum of Fine Arts: Major leadership gift as part of $150+ million capital campaign (co-chaired by the Stephenses)

Geographic Focus

The foundation primarily supports organizations in:

  • Little Rock, Arkansas (primary focus)
  • Other Arkansas communities including Searcy
  • Select locations outside Arkansas: Alexandria, Greensboro, and Washington, D.C. (Virginia, North Carolina, and Washington D.C.)

What They Don't Fund

The foundation explicitly states it does not accept unsolicited requests for funds, limiting its grantmaking to preselected charitable organizations.

Governance and Leadership

Trustees:

  • Warren A. Stephens: Co-trustee and prominent Arkansas businessman who recently retired as President and CEO of Stephens Inc., a Little Rock-based investment banking firm. Warren has been nominated to serve as U.S. Ambassador to the United Kingdom. He serves or has served on numerous boards including:

    • Chair, Arkansas Museum of Fine Arts Foundation Board (past chairman of the Arkansas Arts Center)
    • Chair, Episcopal Collegiate School Foundation Board
    • Board of Trustees, Washington and Lee University (co-chaired 2015 capital campaign that raised over $542 million)
    • Board of Directors, Central Arkansas Boys and Girls Club
    • Chairman, Arkansas Repertory Theatre capital campaign

  • Harriet C. Stephens: Co-trustee with extensive board service including:

    • Co-chair, Arkansas Museum of Fine Arts capital campaign (also led building committee)
    • University of Arkansas for Medical Sciences Institute on Aging
    • Easter Seals
    • Co-founder, Episcopal Collegiate School

Both trustees receive zero compensation for their foundation roles.

On Their Philanthropic Approach: In a 2019 interview about the Arkansas Arts Center renovation (now Arkansas Museum of Fine Arts), Warren Stephens stated they were looking for a "wow factor" with the overhaul, emphasizing their commitment to transformational rather than incremental support. The couple's approach reflects deep, sustained engagement rather than transactional giving—they co-chair campaigns, serve on building committees, and remain involved for decades.

Application Process & Timeline

How to Apply

This foundation does not have a public application process. The foundation has explicitly indicated it only makes contributions to preselected charitable organizations and does not accept unsolicited requests for funds.

Grants are awarded at the discretion of the trustees, Warren and Harriet Stephens, based on their longstanding relationships with and governance involvement in recipient organizations.

Getting on Their Radar

Based on the pattern of grants and the trustees' involvement, organizations that receive funding typically share these characteristics:

  • Governance Connection: The Stephenses serve in leadership roles (board chair, campaign co-chair, trustee) at organizations they support. Warren chairs the Episcopal Collegiate School Foundation Board and co-chaired the Arkansas Museum of Fine Arts capital campaign; both positions preceded major grants.

  • Arkansas Cultural and Educational Institutions: Organizations where the Stephenses have been involved include Episcopal Collegiate School (co-founders), Arkansas Museum of Fine Arts (40+ years of involvement, campaign co-chairs), Arkansas Repertory Theatre (Warren chaired capital campaign), and Central Arkansas Boys and Girls Club (Warren served on board).

  • Multi-Year Relationship Building: The Stephenses' giving pattern shows decades-long commitments. They were involved with Episcopal Collegiate School since its founding and with the Arkansas Museum of Fine Arts for over 40 years before making their most significant gifts.

  • Capital and Transformational Projects: Recent major gifts have supported capital campaigns and transformational initiatives rather than operating support—the $25 million to Episcopal Collegiate School for its 25th anniversary endowment, leadership gifts to the $155 million Arkansas Museum of Fine Arts renovation, and capital campaign support for Arkansas Repertory Theatre renovation.

Application Success Factors

Since this foundation operates by trustee discretion rather than competitive application, success factors center on relationship and institutional characteristics:

  1. Deep Personal Connection: All identified major grant recipients have direct governance involvement from Warren and/or Harriet Stephens. They don't simply write checks—they chair boards, co-chair campaigns, and serve on building committees.

  2. Arkansas Focus with Quality Emphasis: While the foundation has made select grants outside Arkansas, the overwhelming focus is on Little Rock and Arkansas institutions. The Stephenses' giving reflects a commitment to elevating the quality and reputation of Arkansas cultural and educational institutions to national standards.

  3. Transformational Over Incremental: The foundation's giving pattern shows preference for significant, transformational gifts. The $25 million to Episcopal Collegiate School and leadership role in the $155 million Arkansas Museum of Fine Arts campaign demonstrate appetite for ambitious projects with lasting impact.

  4. Areas of Expertise: The three focus areas—arts, education, and healthcare—are consistently reinforced across both trustees' board service and foundation grants. Organizations outside these areas appear unlikely to receive consideration.

  5. Long-Term Vision: Both the Episcopal Collegiate gift (focused on long-term sustainability and endowment) and the Arkansas Museum of Fine Arts project (complete renovation and reimagining) suggest the foundation values strategic, future-oriented projects over immediate needs.

  6. Recognition and Awards: The Stephenses were awarded the Winthrop Rockefeller Memorial Award in 2005 in recognition of their dedication to the Arkansas Museum of Fine Arts, indicating they value institutions that recognize and honor sustained philanthropic commitment.

Key Takeaways for Grant Writers

  • This foundation is not accessible through traditional grant applications—they only fund preselected organizations where the trustees have governance involvement
  • Multi-decade relationship building is the norm: The Stephenses were involved with Arkansas Museum of Fine Arts for 40+ years and were co-founders of Episcopal Collegiate School before making their largest gifts
  • Focus is heavily Arkansas-centric: Little Rock institutions in arts, education, and healthcare receive the vast majority of support
  • Major gifts support capital campaigns and transformational projects: Recent grants include $25 million to Episcopal Collegiate School and leadership gifts to $155 million museum renovation
  • Governance participation precedes major funding: Warren chairs Episcopal Collegiate School Foundation Board; both Stephenses co-chaired the Arkansas Museum of Fine Arts campaign—these leadership roles came before the largest grants
  • The foundation made only 4 awards in 2023 despite $25+ million in giving: This indicates a preference for fewer, larger, more strategic gifts rather than broad grantmaking
  • With Warren Stephens nominated as U.S. Ambassador to the United Kingdom, the foundation's activity patterns may evolve: Organizations should note this potential transition in the trustees' availability and focus

References

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