MacArthur Foundation
From Wikipedia, the free encyclopedia
The John D. and Catherine T. MacArthur Foundation is a major private grant-making foundation based in Chicago that has awarded more than US$3 billion since its inception in 1978. It is now one of the ten largest private philanthropies in the U.S. with an endowment of more than $6 billion. The foundation awards approximately $225 million annually in grants and low-interest loans.
Its four major program areas are Global Security and Sustainability, Human and Community Development, General grant-making, and the MacArthur Fellows Program, also known as "genius grants." Topics of interest to the Foundation include international peace and security, conservation and sustainable development, population control, reproductive health, human rights, community development, affordable housing, and educational, juvenile justice, and mental health reform, public interest media, including public radio and independent documentary film. The Foundation also gives grants to arts and cultural institutions in the Chicago area.
The MacArthur Fellows Program awards five-year, unrestricted fellowships, "to individuals across all ages and fields (but ONLY to US citizens) who show exceptional merit and promise of continued creative work." The amount of the award is currently $500,000, which is paid over five years, with no strings attached.
The Foundation's President is Jonathan F. Fanton, formerly President of the New School for Social Research. There are also overseas offices in Mexico, India, Nigeria, and Russia.
The Foundation's founder, John D. MacArthur (1897-1978), founded and owned Bankers Life and Casualty and other businesses, as well as considerable property in Florida and New York. His wife Catherine T. MacArthur (1909-1981) held positions in many of these companies and served as a director of the Foundation.
Over its history the Foundation has been in close collaboration with the Rockefeller Brothers Fund, the Carnegie Corporation and the Rockefeller Foundation; one case in point being the joint establishment in 2000 of The Partnership for Higher Education in Africa, to assist higher education institutions in 6 African countries. Another connection is that President Jonathan F. Fanton serves as an Advisory Trustee of the Rockefeller Brothers Fund.
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[edit] History
William T. Kirby, John MacArthur's attorney, along with Paul Doolen, MacArthur's CFO, suggested that the MacArthurs create a foundation to be endowed by their vast fortune. The legal document that created the John D. and Catherine T. MacArthur Foundation was two pages long and written by Kirby in plain language.
When John D. MacArthur died on January 6, 1978, he was worth in excess of $1 billion and was reportedly one of the three richest men in the United States. MacArthur left ninety-two percent of his estate to begin the John D. and Catherine T. MacArthur Foundation. The composition of the Foundation’s first Board of Directors, per John D. MacArthur’s will, also included Catherine T. MacArthur (his wife), J. Roderick MacArthur (a son from John D. MacArthur’s first marriage), two other officers of Bankers Life and Casualty, and Radio Commentator Paul Harvey.
Doolen was the first president of the foundation, serving from 1978 to 1980. Dr. John Corbally was the second president of the foundation, who served from 1980 until 1989. Adele Simmons was the third president of the foundation, serving from 1989 to 1999.
[edit] MacArthur Fellowship
William T. Kirby, a founding member of the board of directors and Chairman of the Board until his death, suggested that the MacArthur Foundation create the Fellows Program. He credited his doctor, Dr. George Burch of Tulane University, for bringing this idea to his attention.[1]. The philanthropist's son J. Roderick MacArthur was the chief implementer of the details of the Fellows Program, and its strongest supporter.
The MacArthur Fellowship (sometimes nicknamed the "genius grant") is an award issued by the MacArthur Foundation each year, to typically 20 to 40 citizens or residents of the USA, of any age and working in any field, who "show exceptional merit and promise for continued and enhanced creative work." According to the Foundation website, "the fellowship is not a reward for past accomplishment, but rather an investment in a person's originality, insight, and potential."
The Foundation does not accept applications or grant interviews. The foundation relies on anonymous nominators, who submit recommendations to a small selection committee of about a dozen people. The committee then reviews every applicant and passes along their recommendations to the President and the board of directors. The entire process is anonymous and confidential. The first time that a new MacArthur Fellow learns that he or she was even being considered is upon receiving a phone call telling him or her the good news.
[edit] See also
- Rockefeller Brothers Fund
- Rockefeller Foundation
- Carnegie Corporation
- List of wealthiest foundations
[edit] External links
- MacArthur Foundation Website
- MacArthur Fellows Program info page
- MacArthur Fellows announcement
- Pocantico Conference Center: Full list of 2005 Conferences Mentions collaborative effort in 2000 in The Partnership for Higher Education in Africa; and group executive annual meetings of 16 foundation presidents at Pocantico, including MacArthur.
