Rockefeller Foundation

The Rockefeller Foundation is an American private foundation and philanthropic medical research and arts funding organization based at 420 Fifth Avenue, New York City. The foundation was created 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. It is the second-oldest major philanthropic institution in America (after the Carnegie Corporation) and ranks as the 35th largest foundation globally by endowment, with assets of over $6.4 billion in 2023. The Rockefeller Foundation is legally independent from other Rockefeller entities, including the Rockefeller University and Rockefeller Center. The foundation operates under the oversight of its own independent board of trustees, with its own resources and distinct mission. Since its inception, the foundation has donated billions of dollars to various causes, becoming the largest philanthropic enterprise in the world by the 1920s. The foundation has maintained 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. 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. 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.