Introduction

The modern American foundation, particularly those with the largest assets, as an instrumentality for charitable and philanthropic giving, is in many ways a unique and complex social, economic, and political institution with deep roots in the past. Chinese documents show that provision for the care of orphans and destitute people was being made around 2000 B.C. The advent of Christianity as a religion marked a singular and important chapter in the history of charity/philanthropy and the emergence of foundations. The emergence of Islam in the Near East in the seventh century A.D. saw the spread of a religion and civilization throughout much of the Mediterranean area and beyond that was in many respects unlike that of Europe. The rapid accumulations of great wealth in the United States as the result of the tremendous economic expansion during and after the Civil War provided the moneys for the ability to establish large foundations for national as well as international purposes.