Carnegie Corporation of New York
Carnegie Corporation of New York, which was established by Andrew Carnegie in 1911 "to promote the advancement and diffusion of knowledge and understanding", is one of the oldest, largest and most influential of American foundations. Some notable contributions of Carnegie Corporation include:
expansion of higher education and adult education
advancement of research on learning and cognitive development in early childhood
promotion of educational and public interest broadcasting
advancement of minorities and women in precollege and higher education
heightening public understanding of the education and health needs of children and adolescents
investigation of risks of superpower confrontation, nuclear war, and ethnic and civil strife
Carnegie Corporation has helped establish or endowed a variety of institutions, including the Carnegie libraries, the National Research Council, the Russian Research Center at Harvard, and the Children's Television Workshop, and for many years heavily supported Carnegie's other philanthropic organizations, especially Carnegie Endowment for International Peace (CEIP), the Carnegie Foundation for the Advancement of Teaching (CFAT), and the Carnegie Institution for Science (CIS). It has funded the writing of books and studies, as well as the organization of conferences and international exchanges, radio shows, legal proceedings and other activities. Through its activities, the Corporation has had a great impact on the information and knowledge available to citizens and government alike. Its work and that of its grantees has exerted a substantial influence on public discourse and public policy.Founding and early years
By 1911 Andrew Carnegie had endowed five organizations in the United States and three in the United Kingdom, and had given away over $43 million for public library buildings and close to $110 million for other purposes. Nevertheless, ten years after the sale of the Carnegie Steel Company, he still had more than $150 million and, at the age of 76, was tiring of the burden of philanthropic decision making. On the advice of Elihu Root, a long-time friend, he decided to establish a trust to which he could transfer the bulk of his remaining fortune and, ultimately, the responsibility for distributing his wealth after his lifetime. Having already used the conventional labels for his previously endowed institutions, he selected "corporation" for this last and largest. It was chartered by the State of New York as Carnegie Corporation of New York. The Corporation's capital fund, originally donated as a value of about $135 million, had a market value of $1.55 billion on March 31, 1999.
During 1911 and 1912, Carnegie gave the Corporation $125 million, making it the largest single philanthropic trust ever established up to that time. As the residual legatee under his will, the Corporation received an additional $10 million when the estate was settled. Carnegie earmarked a portion of the endowment to be used for philanthropic purposes in Canada and what were then the British Colonies. This part of the endowment was first known as the Special Fund, then the British Dominions and Colonies Fund, and later the Commonwealth Program. Charter amendments have allowed the Corporation to use 7.4 percent of its income in countries that are or have been members of the British Commonwealth.