4.3: Funding from Foundations
A foundation is a non-governmental, nonprofit, or charitable organization whose main purpose is to offer grant funding to unrelated individuals, organizations, or institutions, such as to support scientific, educational, cultural, humanitarian, religious, and other charitable purposes. The founders and administrators usually guide the direction, priorities, and goals of grant funding opportunities.
Read this listing for more details about the definition, goals, and types of philanthropic foundations, along with several examples of prominent foundations.
Popular Foundations
Some popular foundations demonstrate a wide range of philanthropic and charitable goals.
- The Bill and Melinda Gates Foundation is a family foundation that partners with international organizations to tackle the challenges of "extreme poverty and poor health in developing countries, and the failures of America's education system".
- The Ford Foundation is a corporate foundation created by Edsel Ford, the president of Ford Motor Company, which aims to "reduce poverty and injustice, strengthen democratic values, promote international cooperation, and advance human achievement".
- The Knight Foundation is a corporate foundation that the founders of Knight Newspapers created to promote excellence in journalism and foster "informed and engaged communities".
- The Lilly Endowment is a state-based foundation that donates funds to support Indiana's religious causes, educational institutions, and community development.
- The Sinclair Foundation is an academic foundation that makes scholarships available to the students who attend their community college.
- The Watertown Community Foundation is a small community-based foundation in the town of Watertown.
Watch this video, which describes four different types of foundations: an independent foundation, a company-sponsored foundation, an operating foundation, and a community foundation. It also discusses the special requirements, foundation giving trends, and the benefits of establishing a foundation (to the donor).
Read this article for tips on researching foundations and other types of organizations that offer grant funding. The article lists several tools for both grant research and management.