Rockefeller Brothers Fund Panel on Education
| Motto | Philanthropy for an Interdependent World |
|---|---|
| Formation | 28 December 1940 |
| Founder | John, Nelson, Winthrop, Laurance, and David Rockefeller |
| Headquarters | New York, New York |
| Products | Grant-making |
|
Key people
|
Stephen B. Heintz |
| Endowment | $870 million (2017) |
| Website | www |
The Rockefeller Brothers Fund (RBF) is a philanthropic foundation created and run by members of the Rockefeller family. It was founded in New York City in 1940 as the primary philanthropic vehicle for the five third-generation Rockefeller brothers: John D. Rockefeller III, Nelson, Laurance, Winthrop and David. It is distinct from the Rockefeller Foundation. The Rockefellers are an industrial, political, and banking family that made one of the world's largest fortunes in the oil business during the late 19th and early 20th centuries.
The Fund's stated mission is to "advance social change that contributes to a more just, sustainable, and peaceful world." The current president of RBF is Stephen Heintz, who was appointed to the post in 2000. Valerie Rockefeller Wayne serve as RBF's chairwoman. She succeeded Richard Rockefeller, the fifth child of David Rockefeller, who served as RBF's chairman until his death in 2014.
The Rockefeller Brothers Fund was established in 1940 by the five sons of John D. Rockefeller, Jr. The five Rockefeller brothers served as the Fund's first five trustees. In 1951, the Fund grew substantially when it received a $58 million endowment from John D. Rockefeller, Jr.
As the RBF's founding generation passed on, new family members joined the board, moving the Fund's giving further to the political left. In 1999, the Fund merged with the Charles E. Culpepper Foundation.
In November 2006, David Rockefeller pledged $225 million to the Fund that would create the David Rockefeller Global Development Fund after his death.
In September 2014, the Rockefeller Brothers Fund announced that it planned to divest its assets from fossil fuels. On disinvesting from fossil fuels, the president of the Rockefeller Brothers Fund, Steven Heintz, said: "We see this as both a moral imperative and an economic opportunity" (30 September 2014).
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