AMERICAN PHILANTHROPY.

New Zealand Herald, Volume LXVII, Issue 20656, 30 August 1930, Page 11

AMERICAN PHILANTHROPY.

WEALTHY "FOUNDATIONS."

ANNUAL OUTLAY OF £12,000,000.

[from our OWN correspondent.] NEW YORK, Aueust 6. There are 108 philanthropic "foundations" in the United States, with funds of more than a billion dollars. ■ They dispense annually about £12,000,000. About one-half of this disbursement goes into the field of education, in which 36 funds are interested. The exceptionally great flow of funds to education is due to the fact that the leading funds—the Rockefeller and Carnegie benefactionshave been largely devoted to education. The Carnegie Corporation represents an investment of £27,000,000 and the Rockefeller £102,000,000. The former distributes about £1.600,(XX) a year in individual aid-to professors through its pension plan, in the support of library and adult education and in educational institutions out side the United States. Seven foundations aid negro education. Forty-eight funds give aid to individuals. art and music beiiig singled out for special attention. Research comes next; 33 foundations dispense £1,400,000 a year to organisations carrying out scientific or scholarly investigations. Biology and medicine are the most popular in the field of research ; 14 bequests are interested in thorn. '. > Health and child welfare are the next two most favoured fields. About 26 funds aid children's organisations, while 22 funds are interested in health. Eighteen foundations aiding social welfare support settlement houses, playground extension groups, homes for the aged and blind, etc. Three foundations are interested, in the improvement of race through the.application of scientific knowledge to th« solution of population problems.