Smith Richardson Foundation
| Founded | 1935 |
|---|---|
| Founder | H. Smith and Grace Jones Richardson |
| Focus | Support research in U.S. foreign and domestic public policy |
| Location |
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| Endowment | $521 million USD (2013) |
| Website | www.srf.org |
The Smith Richardson Foundation is a private foundation based in Westport, Connecticut, that supports policy research in the realms of foreign and domestic public policy.
According to the foundation's website, its mission is "to contribute to important public debates and to address serious public policy challenges facing the United States. The Foundation seeks to help ensure the vitality of our social, economic, and governmental institutions. It also seeks to assist with the development of effective policies to compete internationally and to advance U.S. interests and values abroad."
The Smith Richardson Foundation was established in 1935 by H. Smith Richardson, Sr., and his wife Grace Jones Richardson. Richardson transformed the Vicks Chemical Company, a firm created by his father, Lunsford Richardson, into one of the leading over-the-counter drug companies in the world. In later years, Richardson-Vicks also became a major force in the market for prescription drugs as well as a wide range of consumer products. In 1985, the Richardson family sold the company to Procter & Gamble.
In 1973, R. Randolph Richardson assumed the presidency of the Foundation. Richardson was particularly interested in supporting free-market and pro-democratic causes. During his tenure as president, the Foundation played an important role in supporting think tanks and scholars who were active in public policy debates over issues such as defense policy, tax policy, education reform, and regulation. The Foundation also supported pro-democracy organizations in Central and Eastern Europe, the Soviet Union, and Central and South America.
In 1992, Peter L. Richardson, a nephew of R. Randolph Richardson, assumed the presidency of the Foundation, while Heather Higgins, the daughter of R. Randolph Richardson, became president of the Randolph Foundation.
The Foundation advances its mission through its two principal grant making programs: the International Security and Foreign Policy Program and the Domestic Public Policy Program. The Foundation believes that conflict and change in the international environment have created new needs in the U.S. policy community for analysis and guidance on critical foreign and defense policy issues. In the domestic arena, the Foundation believes that policy makers are seeking innovative and pragmatic solutions to the long-term challenges affecting the well being of all Americans.
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