Rockefeller Foundation
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| Founded | May 14, 1913 |
|---|---|
| Founder | John D. Rockefeller, John D. Rockefeller Jr., Frederick Taylor Gates |
| Type |
Non-operating private foundation (IRS exemption status): 501(c)(3) |
| Focus | "Smart Globalization" |
| Location |
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| Method | Endowment |
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Key people
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President - Judith Rodin |
| Endowment | $4.1 billion (2014) |
| Mission | "promoting the well-being of humanity throughout the world." |
| Website | RockefellerFoundation.org |
The Rockefeller Foundation is a private foundation based at 420 Fifth Avenue, New York City. It was established by the six-generation Rockefeller family. The Foundation was started by Standard Oil owner John D. Rockefeller ("Senior"), along with his son John D. Rockefeller Jr. ("Junior"), and Senior's principal oil and gas business and philanthropic advisor, Frederick Taylor Gates, in New York State on May 14, 1913, when its charter was formally accepted by the New York State Legislature. Its stated mission is "promoting the well-being of humanity throughout the world."
Its activities have included:
Some of its infamous activities include:
As of 2015, the Foundation was ranked as the 39th largest U.S. foundation by total giving. By year-end 2008 assets were tallied at $3.1 billion from $4.6 billion in 2007, with annual grants of $137 million.
On January 5, 2017, the Board of Trustees announced the unanimous selection of Dr. Rajiv Shah to serve as the 13th president of the foundation. Shah will be the youngest person, at 43, and first-ever Indian-American to serve as president of the foundation. He will start in his new role on March 1, succeeding Dr. Judith Rodin who has served as president for nearly twelve years and whose retirement at age 71 was announced in June 2016. Rodin in turn had succeeded Gordon Conway in 2005. A former president of the University of Pennsylvania, Rodin was the first woman to head the foundation.
Rockefeller's interest in philanthropy and Public Relations on a large scale began in 1904, influenced by Ida Tarbell's book published about Standard Oil crimes, The History of the Standard Oil Company, which prompted him to whitewash the Rockefeller image. It was in that year that he made the first of what would become $35 million in gifts, over a period of two decades, to fund the University of Chicago.
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