Rockefeller Foundation - Definition

The Rockefeller Foundation is a charitable organization that operates out of New York City. It was established by John D. Rockefeller to "promote the well-being of mankind throughout the world."

On May 14, 1913, New York Governor William Sulzer approved the charter for the foundation which soon after began operations.

Through the years the foundation has given assistance to public health, medical education, increasing food production, scientific advancement, social research, the arts, and other fields all over the world. When created in 1913, the Rockefeller Foundation was endowed in several installments that totaled about $250 million. The market value of the Rockefeller Foundation's endowment was $3.1 billion at year-end 2001.