SOURCE OF WEALTH: Advanta
FUNDING AREAS: Education & Youth, Arts & Culture, Jewish Causes
OVERVIEW: Dennis Alter conducts philanthropy through the Alter Family Foundation and the Alter Foundation. Both charities focus on the Philadelphia area. The Alter Foundation supports the Jewish Federation of Philadelphia and its activities. Giving through these vehicles has been rather modest of late.
BACKGROUND: Born and raised in the Philadelphia area, Dennis J. Alter graduated from Temple University with his bachelor’s degree in education in 1966. He eventually joined the family business Advanta Corp., a company founded by his father in 1951. The company was one of the largest issuers of MasterCard credit cards to consumers and small businesses in the U.S. In 2009, Advanta filed for bankruptcy.
ISSUES:
EDUCATION & YOUTH: Alter was on the board of trustees of his alma mater Temple University, and strongly supports his school. He helped create Alter Hall, the home of the Fox School of Business. Other education grantmaking tracks with other institutions where the family has a personal connection. Alter and his ex-wife Gisela’s son Gabe attends Colgate University, another grantee.
ARTS & CULTURE: Alter is a trustee of the Philadelphia Museum of Art board. He supports the institution as well as the Barnes Foundation.
JEWISH CAUSES: The Alter Foundation supports the Jewish Federation of Philadelphia and its activities. The Alter Family Foundation, meanwhile, has recently directed funds to places like Tiferet Beth Israel, and Abramson Center for Jewish Life.
LOOKING FORWARD: In the early 2000s, the Alter Family Foundation was giving away six and even seven-figure sums annually. These days, giving has been quite low. However, on the heels of a divorce, perhaps Alter’s giving will take new form down the line.
CONTACT:
Alter’s foundation do not provide a clear avenue for getting in touch, but below are addresses:
Alter Family Foundation
PO Box 1507
Fort Washington, PA 19034
The Alter Foundation
PO Box 1507
Fort Washington, PA 19034
