Carnegie Corporation of New York
437 Madison Ave.
New York City, NY United States 10022-7003
Telephone: (212) 371-3200
Type of Grantmaker
- Celebrity: Business; Other
Incorporated in 1911 in NY - Founded by the late Andrew Carnegie to promote the advancement and diffusion of knowledge and understanding. Carnegie established the Carnegie Steel Company, which launched the steel industry in Pittsburgh, PA. During his lifetime, he personally donated over $300 million in gifts, including over $56 million for more than 2,500 municipal library buildings throughout the English-speaking world. Carnegie Corporation of New York's capital fund, originally valued of $135 million, now has a market value of over $2.4 billion, placing it among the largest foundations in the country. Under Carnegie's will, grants must benefit the people of the United States, although up to 7.4 percent of the funds may be used for the same purpose in countries that are or have been members of the British Commonwealth, currently limited to selected countries in Sub-Saharan Africa