The Times College Scholarship program will continue, though in a smaller format, and all students currently in the program as well as those in the Globe Scholars program will continue as normal. The New York Times Neediest Cases campaign and the Globe Santa program will not be affected by the changes. The Times joins dozens of other corporations that have shrunk or eliminated their giving and matching gift programs over the last year.

Jack Rosenthal, the foundation’s president, will continue through the expiration of his contract at the end of the year. “It’s a shame that we lose the leadership position we have achieved,” Mr. Rosenthal said. “On the other hand, it would be pretty inconceivable for The Times to be giving money away when it is cutting costs.”

The Times Company Foundation used its grants to try to attract much larger public financing for various initiatives.

A fund it created with $1 million to pay for medical treatment for needy families raised an additional $5 million from other donors and has provided treatment to date for some 1,200 families, while a pilot program to use art to enhance learning, currently operating in two New York City schools, attracted $937,000 from the federal Department of Education.

“This is really tragic,” Jeanne B. Mullgrav, commissioner of the New York City Department of Youth and Community Development, wrote in an e-mail message to Mr. Rosenthal. “You and your organization have been such a great partner to the city, the nonprofit sector and to the communities who need support.”