Menninger's grandfather, C. F. Menninger, father, William C. Menninger, and uncle, Karl Menninger, established The Menninger Foundation in 1925 in Topeka, Kansas. With years of managing the large state hospital, in 1993 Walt succeeded his older brother, Roy W. Menninger, as the leader of the foundation. Menninger named Efrain Bleiberg as the president of the organization. He realized that he was probably the last family member to lead the organization; his plan included grooming Bleiberg for the CEO position when he decided to step down.