The Wayne and Gladys Valley Foundation was formed in 1977 by Wayne and Gladys Valley to provide financial assistance for various charitable organizations of particular interest to them, principally in the East Bay Area of California. Since Wayne’s death in October 1986, and Gladys’ death in May 1998, the Foundation has been considered a major philanthropic institution in this Area.
Wayne was the founder and majority owner of Citation Builders, a San Leandro, California developer which became one of the largest single-family homebuilders in the State. In all of Wayne’s business activities, he gained a reputation as a tough, honest and fair-minded businessman who insisted that each endeavor which he undertook be justified on its own merits and offered an above-average chance for success. The Valleys applied these principles to their charitable giving as well. True to the principles of its founders, the Foundation has made, and will continue to make, grants only to organizations and projects which strive for excellence and carry out their programs in a well-managed and cost-efficient manner, with clearly defined and achievable goals.
To insure that the Foundation’s assets are distributed in the primary areas that the founders designated, and — equally as important — that grants are awarded on the basis consistent with the founders’ intentions, in 2003 the Board unanimously elected to wind down and terminate the Foundation.
On September 15 of that year, a Certificate to Wind Up and Dissolve — required under California Code Section 6611 — was filed with the State Attorney General’s office.
Due to the magnitude of the Foundation’s assets and to allow sufficient time to successfully complete the wind-down, the Board and staff have developed a Strategic Plan to accomplish the termination within the next several years.