The decade brought a period of broad modernization and growth for both U.S. society at large and for the Foundation. The Board of Directors doubled in size; a formal Board meeting calendar was established, the office moved to Manhattan and the Foundation published its first annual report. Investment growth provided the funding to expand the number of beneficiaries from 55 to 78 organizations.  Through the continued leadership of Cleveland E. Dodge, expansion was directed in support of education and community welfare organizations.