Rockefeller Brothers Fund
| Motto | Philanthropy for an Interdependent World |
|---|---|
| Formation | 1940 |
| Founder | John, Nelson, Winthrop, Laurance, and David Rockefeller |
| Headquarters | New York, New York |
| Products | Grant-making |
| Endowment | $811 million (2015)[1] |
| Website | www |
The Rockefeller Brothers Fund (RBF) is a philanthropic foundation created and run by members of the Rockefeller family. It was founded in New York City in 1940 as the primary philanthropic vehicle for the five third-generation Rockefeller brothers: John D. Rockefeller III, Nelson, Laurance, Winthrop and David. It is distinct from the Rockefeller Foundation. The Rockefellers are an industrial, political, and banking family that made one of the world's largest fortunes in the oil business during the late 19th and early 20th centuries.
The Fund's stated mission is to "advance social change that contributes to a more just, sustainable, and peaceful world."[2] The current president of RBF is Stephen Heintz, who was appointed to the post in 2000.[3] Valerie Rockefeller Wayne serve as RBF's chairwoman. She succeeded Richard Rockefeller, the fifth child of David Rockefeller, who served as RBF's chairman until his death in 2014.[4]
Contents
History
The Rockefeller Brothers Fund was established in 1940 by the five sons of John D. Rockefeller, Jr. The five Rockefeller brothers served as the Fund's first five trustees. In 1951, the Fund grew substantially when it received a $58 million endowment from John D. Rockefeller, Jr.[5]
As the RBC's founding generation passed on, new family members joined the board, moving the Fund's giving further to the political left.[6] In 1999, the Fund merged with the Charles E. Culpepper Foundation.[5]
In November 2006, David Rockefeller gave $225 million to the Fund to create the David Rockefeller Global Development Fund.[7]
In September 2014, the RBC announced that it planned to divest its assets from fossil fuels.[8]
Special Studies Project
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From 1956 to 1960, the Fund financed a study conceived by its then president, Nelson Rockefeller, to analyze the challenges facing the United States. Henry Kissinger was recruited to direct the project. Seven panels were constituted that looked at issues including military strategy, foreign policy, international economic strategy, governmental reorganization, and the nuclear arms race.[9]
The military subpanel's report was rush-released about two months after the USSR launched Sputnik in October 1957.[10] Rockefeller urged the Republican Party to adopt the finding of the Special Studies Project as its platform. The findings of the project formed the framework of Nelson Rockefeller's 1960 presidential election platform.[11] The project was published in its entirety in 1961 as Prospect for America: The Rockefeller Panel Reports. The archival study papers are stored in the Rockefeller Archive Center at the family estate.[12]
Presidents
- Nelson Rockefeller (1956-1958)
- Laurance Rockefeller (1958-1968)
- Dana S. Creel (1968-1975)
- William M. Deitel (1975-1987)
- Colin G. Campbell (1987-2000)
- Stephen B. Heintz (2001–present)
Further reading
- Harr, John Ensor, and Peter J. Johnson, The Rockefeller Century: Three Generations of America's Greatest Family, New York: Charles Scribner's Sons, 1988.
- Nielsen, Waldemar, The Big Foundations, New York: Cambridge University Press, 1973.
- Rockefeller, David, Memoirs, New York: Random House, 2002.
References
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- ↑ Rushed release of military subpanel's report - see Cary Reich, The Life of Nelson A. Rockefeller: Worlds to Conquer, 1908-1958, New York: Doubleday, 1996. (pp.650-667)
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- ↑ Rockefeller Archive Center
