The Starr Foundation

Last updated
The Starr Foundation
Founded1955
Founder Cornelius Vander Starr
FocusHuman needs, culture, public policy, medicine and healthcare, education and the environment. [1]
Location
MethodGrants
Endowment $3.5 billion
Website www.starrfoundation.org
C.V. Starr Laboratory at the Marine Biological Laboratory in Woods Hole, Massachusetts C.V. Starr Laboratory, MBL.jpg
C.V. Starr Laboratory at the Marine Biological Laboratory in Woods Hole, Massachusetts

The Starr Foundation was established in 1955 by Cornelius Vander Starr, an insurance entrepreneur who founded C.V. Starr & Co. and other companies later combined by his successor, Maurice R. Greenberg, into what became the American International Group. Starr, a pioneer of globalization, set up his first insurance venture in Shanghai in 1919. Upon his death in 1968 his estate was passed on to the foundation. Today, it gives between US$100 million and $200 million each year to charities and causes globally.

Contents

The foundation, once one of the largest in the country with an endowment of some $6 billion in 2000, has disbursed over $3.8 billion since its founding. As of 2019, it had assets of $1.5 billion. [2] It specializes in Asian arts and cultural philanthropy, but also makes grants in other areas, including education, medicine and healthcare, and public policy.

The foundation is no longer affiliated with AIG.

See also

Related Research Articles

<span class="mw-page-title-main">United Nations Foundation</span> Charitable organization

The United Nations Foundation is a charitable organization headquartered in Washington, DC, that supports the United Nations and its activities. It was established in 1998 with a $1 billion gift to the United Nations by philanthropist Ted Turner, who believed the UN was crucial for addressing the world's problems. Originally primarily a grantmaker, the UN Foundation has evolved into a strategic partner to the UN, mobilizing support to advance the Sustainable Development Goals (SDGs), and help the UN address issues such as climate change, global health, gender equality, human rights, data and technology, peace, and humanitarian responses. The UN Foundation's main work occurs through building public-private partnerships, communities, initiatives, campaigns, and alliances to broaden support for the UN and solve global problems. The UN Foundation has helped build awareness and advocate for action on, among others, antimicrobial resistance, regional action on climate change, local implementation of the SDGs, as well as global campaigns such as Nothing But Nets against malaria, the Measles & Rubella Initiative, the Clean Cooking Alliance, Girl Up, Shot@Life, and the Digital Impact Alliance, among others. In March 2020, the UN Foundation was also a key founder of the COVID-19 Solidarity Response Fund on behalf of the World Health Organization (WHO), helping to raise over $200 million USD within the first six weeks to support the global response to the COVID-19 pandemic.

<span class="mw-page-title-main">Bill & Melinda Gates Foundation</span> Private foundation founded by Bill and Melinda Gates

The Bill & Melinda Gates Foundation (BMGF), a merging of the William H. Gates Foundation and the Gates Learning Foundation, is an American private foundation founded by Bill Gates and Melinda French Gates. Based in Seattle, Washington, it was launched in 2000 and is reported as of 2020 to be the second largest charitable foundation in the world, holding $69 billion in assets. On his 43rd birthday, Bill Gates gave the foundation $1 billion. The primary stated goals of the foundation are to enhance healthcare and reduce extreme poverty across the world, and to expand educational opportunities and access to information technology in the U.S. Key individuals of the foundation include Bill Gates, Melinda French Gates, Warren Buffett, chief executive officer Mark Suzman, and Michael Larson.

<span class="mw-page-title-main">ING Group</span> Dutch multinational banking and financial services corporation

The ING Group is a Dutch multinational banking and financial services corporation headquartered in Amsterdam. Its primary businesses are retail banking, direct banking, commercial banking, investment banking, wholesale banking, private banking, asset management, and insurance services. With total assets of US$967.8 billion, it is one of the biggest banks in the world, and consistently ranks among the top 30 largest banks globally.

Open Society Foundations (OSF), formerly the Open Society Institute, is a grantmaking network founded by business magnate George Soros. Open Society Foundations financially supports civil society groups around the world, with the stated aim of advancing justice, education, public health and independent media. The group's name was inspired by Karl Popper's 1945 book The Open Society and Its Enemies.

<span class="mw-page-title-main">American International Group</span> American multinational finance and insurance corporation

American International Group, Inc. (AIG) is an American multinational finance and insurance corporation with operations in more than 80 countries and jurisdictions. As of 2022, AIG employed 26,200 people. The company operates through three core businesses: general insurance, life & retirement, and a standalone technology-enabled subsidiary. General Insurance includes Commercial, Personal Insurance, U.S. and International field operations. Life & Retirement includes Group Retirement, Individual Retirement, Life, and Institutional Markets. AIG is the title sponsor of the AIG Women's Open golf tournament. In 2023, for the sixth consecutive year, DiversityInc named AIG among the Top 50 Companies for Diversity list.

<span class="mw-page-title-main">Maurice R. Greenberg</span> American business executive (born 1925)

Maurice Raymond “Hank” Greenberg is an American business executive and former chairman and chief executive officer of American International Group (AIG).

<span class="mw-page-title-main">Zurich Insurance Group</span> Swiss insurance company

Zurich Insurance Group Ltd is a Swiss insurance company, headquartered in Zürich, and the country's largest insurer. As of 2021, the group is the world's 112th largest public company according to Forbes' Global 2000s list, and in 2011, it ranked 94th in Interbrand's top 100 brands.

<span class="mw-page-title-main">Prudential Financial</span> American life insurance company

Prudential Financial, Inc. is an American Fortune Global 500 and Fortune 500 company whose subsidiaries provide insurance, retirement planning, investment management, and other products and services to both retail and institutional customers throughout the United States and in over 40 other countries. In 2019, Prudential was the largest insurance provider in the United States with $815.1 billion in total assets.

<span class="mw-page-title-main">Munich Re</span> German reinsurance company

Munich Re Group or Munich Reinsurance Company is a German multinational insurance company based in Munich, Germany. It is one of the world's leading reinsurers. ERGO, subsidiary of Munich Re, serves as the primary insurance arm of the Group. Munich Re's shares are publicly listed. Munich Re is included in the DAX index at the Frankfurt Stock Exchange, the Euro Stoxx 50, and other indices.

<span class="mw-page-title-main">Ping An Insurance</span> Chinese insurance company

Ping An Insurance known also as Ping An of China, full name Ping An Insurance (Group) Company of China, Ltd. is a Chinese holding conglomerate whose subsidiaries provide insurance, banking, asset management, financial, healthcare services. The company was founded in 1988 and is headquartered in Shenzhen. "Ping An" literally means "safe and well".

JDRF is a nonprofit 501(c)(3) organization that funds type 1 diabetes (T1D) research, provides a broad array of community and activist services to the T1D population and actively advocates for regulation favorable to medical research and approval of new and improved treatment modalities. It was initially founded as the JDF, the Juvenile Diabetes Foundation. It later changed its name to the Juvenile Diabetes Research Foundation and is now known as JDRF.

<span class="mw-page-title-main">Life Insurance Corporation</span> Indian Central Public sector life insurer

Life Insurance Corporation of India (LIC) is an Indian multinational Central Public sector life insurance company headquartered in Mumbai. It is India's largest insurance company as well as the largest institutional investor with total assets under management worth 45.7 trillion (US$570 billion) as of March 2023. It is under the ownership of Government of India and administrative control of the Ministry of Finance.

<span class="mw-page-title-main">The Global Fund to Fight AIDS, Tuberculosis and Malaria</span> International organization

The Global Fund to Fight AIDS, Tuberculosis and Malaria is an international financing and partnership organization that aims to "attract, leverage and invest additional resources to end the epidemics of HIV/AIDS, tuberculosis and malaria to support attainment of the Sustainable Development Goals established by the United Nations". This multistakeholder international organization maintains its secretariat in Geneva, Switzerland. The organization began operations in January 2002. Microsoft founder Bill Gates was one of the first donors to provide seed money for the partnership. From January 2006 it has benefited from certain US Privileges, Exemptions, and Immunities under executive order 13395, which conferred International Organizations Immunities Act status on it.

<span class="mw-page-title-main">Cornelius Vander Starr</span> American businessman

Cornelius Vander Starr, sometimes known as Neil Starr, was an American businessman and founder of C.V. Starr & Co. in Shanghai, China, which became insurance giant AIG.

<span class="mw-page-title-main">Clinton Foundation</span> American non-profit organization

The Clinton Foundation is a nonprofit organization under section 501(c)(3) of the U.S. tax code. It was established by former president of the United States Bill Clinton with the stated mission to "strengthen the capacity of people in the United States and throughout the world to meet the challenges of global interdependence." Its offices are located in New York City and Little Rock, Arkansas.

<span class="mw-page-title-main">SCOR SE</span>

SCOR SE is a French tier 1 reinsurance company providing Property and Casualty (P&C) and Life reinsurance solutions to its clients. It is one of the leading reinsurers in the world. Created in 1970 with the backing of the French government, its original name was Société Commerciale de Réassurance, hence "SCOR". The SE acronym indicates that the company is a Societas Europaea. In 2007, it became the first French listed company to use the SE acronym in its name.

The Multilateral Investment Guarantee Agency (MIGA) is an international financial institution which offers political risk insurance and credit enhancement guarantees. These guarantees help investors protect foreign direct investments against political and non-commercial risks in developing countries. MIGA is a member of the World Bank Group and is headquartered in Washington, D.C. in the United States.

Sir Clive Cowdery is an English businessman and philanthropist who made a personal fortune in the insurance industry, founding two FTSE100 insurers and a third insurer which has deployed circa $5bn in capital with $90bn in assets, and has since donated large amounts to charity, including the Resolution Foundation which he founded in 2005.

<span class="mw-page-title-main">American Institute for Foreign Study</span>

The American Institute for Foreign Study (AIFS) is an American travel and insurance company, managing a number of educational and travel programs centered on cultural exchange founded or acquired by British businessman and politician Sir Cyril Julian Hebden Taylor starting in 1964. Its operations include college study abroad, au pair placement, camp counsellors and staff, gifted education, and high school foreign exchange. AIFS maintains global offices in 15 countries and is headquartered in Stamford, CT.

References

  1. http://foundationcenter.org
  2. "The Starr Foundation". starrfoundation.org. Retrieved Jul 20, 2022.