The John D. and Catherine T. MacArthur Foundation, known for its "genius" grants, has named as its president Jonathan Fanton, the president of the New School in New York.
Fanton, who will succeed Adele Smith Simmons in September, will earn about $400,000 a year.
The foundation, based in Chicago, is one of the 10 largest in the United States, with assets of about $4 billion and annual spending of about $150 million.
"Being president really fits with the things I've done all my life," Fanton said in a telephone interview last week from Chicago, xTC referring to his work in human rights, community development, education and the arts. "It's just a wonderful match."
MacArthur is best known for its no-strings-attached "genius" grants ranging from $30,000 to $75,000 for five years. The dozens of grants made yearly are bestowed on intellectual and creative figures, with the focus on human and community development and global security and growth.
Fanton, 55, has spent his career in universities. Before moving to the New School in 1982, he was a vice president at the University of Chicago and associate provost at Yale University.
Pub Date: 12/13/98