Abstract
Writing as a child in his autograph book in 1888, Seebohm Rowntree, son of the British Quaker chocolate manufacturer, noted Oliver Wendell Holmes’s maxim: “Put not your trust in money, but your money in trust.” It was a prescient remark bearing the influence of his father, who a few years later established three trusts. The Philanthropic Foundation is a distinctive twentieth-century social institution that has played a central role in charitable and voluntary support for a range of educational, medical, and scientific activities, which are not commonly identified with the voluntary sector today. The twelve years between 1901 and 1913 witnessed the emergence of this new form of philanthropy. Starting with the Rockefeller Institute of Medical Research and the Carnegie Institution of Washington, in 1901, there followed the establishment of the General Education Board in 1902, the three charitable trusts established by Joseph Rowntree in Britain in 1904, the Carnegie Foundation for the Advancement of Teaching in 1905, the Russell Sage Foundation in 1907, the Rockefeller Sanitary Commission in 1909, the Carnegie Corporation of New York in 1911, and the Rockefeller Foundation in 1913.
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Bulmer, M. (1999). The History of Foundations in the United Kingdom and the United States. In: Anheier, H.K., Toepler, S. (eds) Private Funds, Public Purpose. Nonprofit and Civil Society Studies. Springer, Boston, MA. https://doi.org/10.1007/978-1-4615-4893-5_2
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