The Andrew W. Mellon Foundation Report 1970

The Andrew W. Mellon Foundation Report 1970 Manufactured in the United States of America '97' The Andrew W. Mellon Foundation Report from January I, 970 through December 3I, 1970 140 East 62nd Street, New York, New York o002 I zf:A.'-k- P.' I. *: ANDREW W. MELLON 1855-1937 Trustees William 0. Baker Paul Mellon Lauder Greenway Nathan M. Pusey Charles S. Hamilton, Jr. Stoddard M. Stevens Oficers Charles S. Hamilton, Jr. President Albert O'B. Andrews Vice President and Secretary Kenneth J. Herr Treasurer and Assistant Secretary General Counsel Sullivan & Cromwell ON June 30, I969 Old Dominion Foundation was merged into Avalon Foundation and the name of the latter changed to The Andrew W. Mellon Foundation. Avalon Foundation had been founded by Ailsa Mel- lon Bruce on December 26, I940 as a common law charitable trust. In I954 it was incorporated under the Membership Corporations Law of the State of New York. Old Dominion Foundation had been established in I94I by Paul Mellon under the laws of the Commonwealth of Virginia. The two individuals were the children of Andrew W. Mellon, Secretary of the Treasury from I92I to I932, and later Ambassador to the Court of St. James's. Total assets of The Andrew W. Mellon Foundation at December 31, I970 approximated $697,8I8,000 at market value and $60I,257,000 at book value. During I970, the Foundation received substantial distributions from certain trusts established by Ailsa Mellon Bruce who died on August 25, I969. It is possible that there may be further distributions in the future of a relatively more minor nature from such trusts and also from Mrs. Bruce's estate, of which the Foundation is the residuary lega- tee. Any such amounts are, of course, not now determinable. Grants paid by the Foundation in I970 amounted to $29,993,577. Net income for the year amounted to $40,834,043, reflecting, in part, re- ceipt in I970 of income from the above-mentioned trusts attributable to I969. The net income figure is before provision for the four per cent. ex- cise tax on net investment income for I970 imposed by the Tax Reform Act of I969 and payable in I97I. Since the formation of the Foundation in I940 as the Avalon Foundation, it and Old Dominion Foundation have appropriated a total of $I9I,936,882 for philanthropic purposes, of which $I89,I32,426 had been paid as of the end of I970. 8 The Foundation does not make grants to individuals. It has no pre- scribed forms of application for grants, and usually a reasonably descrip- tive letter is sufficient to determine whether further investigation seems warranted. Both the status of the applicant and the status of any possible grant which may be made by the Foundation will necessarily involve con- sideration of the provisions of the Tax Reform Act of I969 as it relates to foundations. It has been announced that Charles S. Hamilton, Jr. will retire in I97I as president of the Foundation, and that he will be succeeded as president by Nathan M. Pusey, following the latter's retirement as president of Harvard University. It is expected that this change will occur on October i, I971. There follows a brief summary of certain selected grants made during the year under review. There is appended to this Report a detailed list of all appropriations made and grants paid during the year, together with the relevant financial statements. 9 Summaries of Certain Selected Grants EDUCATION Bryn Mawr College, Bryn Mawr, Pa. - $500,000 to endow "The Andrew W. Mellon Foundation Chair in the Humanities." Carleton College, Northfield, Minn. - $5oo,ooo to endow "The Andrew W. Mellon Foundation Chair in the Humanities." Connecticut College, New London, Conn. - $250,000 to assist in the construction of an addition to the College's library. Cornell University, Ithaca, N. Y. - $300,000 for the general support of the University's Society for the Humanities, which encourages creative research and imaginative teaching in this discipline. Hampton Institute, Hampton, Va. - $400,000 to endow "The An- drew W. Mellon Foundation Chair" in the humanities or social sciences. Harvard University, Cambridge, Mass. - $500,000 toward construction of an underground addition to the Harvard College Library. Institute of International Education, New York, N. Y.- $250,000 toward the retirement of the indebtedness on the headquarters building of the Institute which promotes the interchange of students and cultural programs between the United States and other countries. Interdenominational Theological Center, Atlanta, Ga.- $200,000 toward the ten-year development program of the Center, which is seeking to increase its capacity to train black ministers. The Johns Hopkins University School of Advanced International Studies, Washington, D. C. - $750,000 to endow "The Andrew W. Mellon Foundation Chair in International Studies." Lexington School for the Deaf, Queens, N. Y.- $200,000 toward reducing the indebtedness on the School's new facility in Queens, N. Y. IO Liberal Arts Colleges - $3,000,000 to fifteen private, independent liberal arts colleges, distributed $200,000 to each, for faculty support, primarily in the humanities, as follows: Agnes Scott College, Bates Col- lege, Bucknell University, Drew University, Grinnell College, Knox Col- lege, Lafayette College, Mills College, Oberlin College, Randolph-Ma- con Woman's College, Scripps College, Trinity College, Wabash College, Wake Forest University and Wheaton College. Massachusetts Institute of Technology, Cambridge, Mass. $300,000 to assist in the construction of a new electrical engineering and electronics teaching complex. Navajo Community College, Many Farms, Ariz.-$250,000 toward the capital construction needs of the College, the nation's first institution of higher learning controlled by Indians. New York University, Institute of Fine Arts, New York, N. Y. $750,000 to endow a professorship to be designated as the "Ailsa Mellon Bruce Chair in Fine Arts." Polytechnic Institute of Brooklyn, Brooklyn, N. Y. - $200,000 in support of the Institute's Center for Urban Environmental Studies which sponsors research and teaching activities covering a wide scope of prob- lems. Princeton University, Princeton, N. J.- $i,ooo,ooo toward the physical expansion of the University's Library Program in the Social Sciences. Secondary Schools - $750,000 to ten private, independent secondary schools, distributed $75,000 to each, for faculty support to the following institutions: Abbot Academy, Emma Willard School, Hebron Academy, Lenox School, Masters School, Protestant Episcopal High School, Shipley School, South Kent School, Taft School and Wooster School. Tulane University, New Orleans, La. - $500,000 toward the support of the University's library development programs, to include book acquisitions, additions to staff, increased shelving, and extension of ser- vices to other local colleges. II University of Chicago, Chicago, 111. - $500,000 to assist in the con- version and renovation of the Harper Memorial Library building and adjacent buildings to house an undergraduate library, dassrooms and faculty office space. Vassar College, Poughkeepsie, N. Y. - $750,000 to endow "The Andrew W. Mellon Professorship in the Humanities." Virginia Polytechnic Institute Educational Foundation, Inc., Blacks- burg, Va. - $200,000 toward the purchase of equipment and the repair and modernization of facilities at the Virginia Forage Research Station, an agency of the Institute which conducts research on pastures and forage crops to improve the feeding and breeding of cattle. Washington and Lee University, Lexington, Va. -$300,000 to assist in the construction of a new undergraduate library. HEALTH AND MEDICINE Associoation of American Medical Colleges, Washington, D. C.- $I50,000 to the Association, which promotes and guides the development of medical education, to assist in defraying the costs of moving its headquarters from Evanston, Illinois, to Washington, D. C. Children's Hospital Medical Center, Boston, Mass.- $250,000 to aid in the purchase of laboratory and scientific equipment for its new Basic Sciences Building. Georgetown University School of Medicine, Washington, D. C. $300,000 toward the support of the School's program to expand its enrollment substantially. Peter Bent Brigham Hospital, Boston, Mass. -$i,ooo,ooo to aid in the construction of a proposed new unified hospital and medical center, adjacent to Harvard Medical School, to house the Peter Bent Brigham Hospital, the Boston Hospital for Women and the Robert B. Brigham Hospital. I2 Planned Parenthood of New York City, Inc., New York, N. Y.- $I50,000 for the support of the increased workload of the organization's Family Planning Information Service. Presbyterian Hospital in the City of New York (Columbia-Presby- terian Medical Center), New York, N. Y. - $i,ooo,ooo toward the construction phases of its development and modernization program. Skidmore College, Saoratoga Springs, N. Y. - $I50,000 to aid in the renovation and equipping of its Nurses' Education and Residence Build- ing which houses its nursing program at New York University Medical Center. Vanderbilt University School of Medicine, Nashville, Tenn.- $500,000 to aid in the construction of a new classroom and teaching laboratory building to provide for increased enrollment. Washington University School of Medicine, St. Louis, Mo. $500,000 to aid in the renovation of existing hospital facilities to house a new Perinatal Center and to provide offices and laboratory space for the School's Department of Obstetrics and Gynecology. World Rehabilitation Fund, Inc., New York, N. Y. - $ioo,ooo in general support of the Fund which makes available to people of other countries the knowledge and techniques in physical rehabilitation of the Institute of Physical Medicine and Rehabilitation at New York Uni- versity Medical Center. CULTURAL PROJECTS Brooklyn Institute of Arts and Sciences, Brooklyn, N. Y.-$26o,ooo for use of The Brooklyn Museum to establish and support a Curatorial Apprentice Training Program to provide on-the-job experience for the training of museum curators and conservators.

Load more