Five Largest Foundations in the World

Five Largest Foundations in the World
If you have more money than you know what to do with, maybe you too could set up a foundation as the people in this list have done with their millions. Take a look at some of the largest foundations in the world.

Bill & Melinda Gates Foundation
Microsoft co-founder Bill Gates and his wife, Melinda, established their foundation in 2000 with $106 million. The foundation's goals include improving health care and education, fighting extreme poverty, and improving access to information technology.

In June 2006, Warren Buffett, the world's second richest person (behind Gates), pledged 10 million shares of his company's stock (worth nearly $31 billion) to the Bill & Melinda Gates Foundation. As of April 2006, the foundation's endowment exceeded $33 billion, which means that to keep its charitable status, it must make approximately $1.65 billion in annual charitable contributions. In addition to his ample financial gifts, Bill Gates also has pledged his time to the foundation, announcing that he will phase out of his managerial role at Microsoft by July 2008 to focus on charity work.

Wellcome Trust
The Wellcome Trust was founded in London in 1936 after the death of pharmaceuticals mogul Henry Wellcome. The mission of the Wellcome Trust is to promote research, improve human and animal health, and improve understanding of science and medicine. As of September 2005, Wellcome's endowment was approximately $23.2 billion, making it the largest charitable foundation in Great Britain, and the second largest in the world.

Howard Hughes Medical Institute
The Howard Hughes Medical Institute was founded in 1953 by aviator, moviemaker, and millionaire industrialist Howard Hughes to promote medical research and education. The initial endowment consisted of 75,000 shares of Hughes Aircraft stock. After Hughes' death in 1976, the endowment quickly grew from $4 million in 1975 to $15 million in 1978. During this time, the institute became more involved in genetics, immunology, and molecular biology. Another increase endowment occurred in the mid-1980s when General Motors purchased Hughes Aircraft. By September 2005, it had reached nearly $15 billion.

Lilly Endowment
In 1937, Lilly Endowment, Inc., was established by Josiah K. Lilly, Sr., and his sons with stock from Eli Lilly pharmaceuticals company. While the endowment, which now totals $10.8 billion, is 13 percent of the company's stock, the foundation is separate from the pharmaceuticals company. The foundation's primary recipients are in community development, education, and religion. The Lilly Endowment is the largest private foundation in the United States to contribute mostly to local projects, with 60 to 70 percent of funds going to charities in its home state of Indiana.

Ford Foundation
Founded in 1936 by Edsel Ford and two Ford Motor Company executives, the purpose of the Ford Foundation was to fund scientific, educational, and charitable projects. Today, the foundation's mission includes promoting democracy, improving education, and reducing poverty. In its early years, the foundation supported National Educational Television, which was replaced by the Public Broadcasting Service in 1970. At the end of 2006, the foundation's endowment was approximately $12 billion. In that year alone, the foundation gave out nearly $530 million in grants for projects focused on community and economic development, education, media, arts, peace, social justice, and human rights.

– Source: http://money.howstuffworks.com/10-largest-foundations-in-the-world.htm