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Rockefeller Foundation

The Rockefeller Foundation
FoundedMay 14, 1913 (1913-05-14)
FoundersJohn D. Rockefeller
John D. Rockefeller Jr.
Frederick Taylor Gates
TypeNon-operating private foundation
(IRS exemption status): 501(c)(3)[1]
13-1659629
Location
MethodEndowment
Key people
Rajiv Shah
(president)
Endowment$6.3 billion (2020)[2]
Websiterockefellerfoundation.org

The Rockefeller Foundation is an American private foundation and philanthropic medical research and arts funding organization based at 420 Fifth Avenue, New York City.[3] The second-oldest major philanthropic institution in America, after the Carnegie Corporation, the foundation was ranked as the 39th largest U.S. foundation by total giving as of 2015.[4] By the end of 2016, assets were tallied at $4.1 billion (unchanged from 2015), with annual grants of $173 million.[5] According to the OECD, the foundation provided US$283.9 million for development in 2021.[6] The foundation has given more than $14 billion in current dollars.[7]

The foundation was started by Standard Oil magnate John D. Rockefeller ("Senior") and son "Junior", and their primary business advisor, Frederick Taylor Gates, on May 14, 1913, when its charter was granted by New York.[8]

The foundation has had an international reach since the 1930s and major influence on global non-governmental organizations. The World Health Organization is modeled on the International Health Division of the foundation, which sent doctors abroad to study and treat human subjects. The National Science Foundation and National Institute of Health are also modeled on the work funded by Rockefeller.[9] It has also been a supporter of and influence on the United Nations.

In 2020 the foundation pledged that it would divest from fossil fuel, notable since the endowment was largely funded by Standard Oil.[10]

The foundation also has a controversial past, including support of eugenics in the 1930s, as well as several scandals arising from their international field work. In 2021 the foundation's president committed to reckoning with their history, and to centering equity and inclusion.

  1. ^ FoundationCenter.org, The Rockefeller Foundation, accessed 2010-12-23
  2. ^ Rockefeller Foundation. [ Financial Statements December 31, 2020]. Retrieved 2022-07-05.
  3. ^ "Company Overview of The Rockefeller Foundation". Businessweek. Archived from the original on October 22, 2012. Retrieved April 17, 2013.
  4. ^ "Foundation Stats". The Foundation Center. October 2014. Archived from the original on May 5, 2016. Retrieved August 14, 2017.
  5. ^ "Financial Statement 2016" (PDF). The Rockefeller Foundation. June 21, 2017. Archived from the original (PDF) on January 12, 2018. Retrieved January 12, 2018.
  6. ^ "Rockefeller Foundation | Development Co-operation Profiles – Rockefeller Foundation | OECD iLibrary". www.oecd-ilibrary.org. 2023. Archived from the original on October 2, 2023. Retrieved October 1, 2023.
  7. ^ "The Rockefeller Foundation Timeline". Archived from the original on February 12, 2007.
  8. ^ "Research Library – The Rockefeller Foundation" (PDF). Archived from the original (PDF) on October 30, 2012. Retrieved May 26, 2011.
  9. ^ "Global Forum on Human Development" (1999). As model for UN organizations, pp.64-5.
  10. ^ Egan, Matt (December 18, 2020). "Exclusive: A $5 billion foundation literally founded on oil money is saying goodbye to fossil fuels". CNN. Archived from the original on September 12, 2022. Retrieved August 18, 2022.

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