History
The foundation was established on January 15, 1936, in Michigan by Edsel Ford (president of the Ford Motor Company) and two other executives "to receive and administer funds for scientific, educational and charitable purposes, all for the public welfare". During its early years, the foundation operated in Michigan under the leadership of Ford family members and their associates, and supported the Henry Ford Hospital and the Henry Ford Museum and Greenfield Village, among other organizations.
After the deaths of Edsel Ford in 1943 and Henry Ford in 1947, the presidency of the foundation fell to Edsel's eldest son, Henry Ford II. It quickly became clear that the foundation would become the largest philanthropy in the world. The board of trustees then commissioned the Gaither Study Committee to chart the foundation's future. The committee, headed by California attorney H. Rowan Gaither, recommended that the foundation become an international philanthropy dedicated to the advancement of human welfare and "urged the foundation to focus on solving humankind's most pressing problems, whatever they might be, rather than work in any particular field...." The board embraced the recommendations in 1949.
The board of directors decided to diversify the foundation's portfolio and gradually divested itself of its substantial Ford Motor Company stock between 1956 and 1974. This divestiture allowed Ford Motor to become a public company.
In 2012, the foundation transferred its archives from New York City to the Rockefeller Archive Center in Sleepy Hollow, New York.
Read more about this topic: Ford Foundation
Famous quotes containing the word history:
“History has neither the venerableness of antiquity, nor the freshness of the modern. It does as if it would go to the beginning of things, which natural history might with reason assume to do; but consider the Universal History, and then tell us,—when did burdock and plantain sprout first?”
—Henry David Thoreau (1817–1862)
“History is more or less bunk. It’s tradition. We don’t want tradition. We want to live in the present and the only history that is worth a tinker’s damn is the history we make today.”
—Henry Ford (1863–1947)
“As History stands, it is a sort of Chinese Play, without end and without lesson.”
—Henry Brooks Adams (1838–1918)