David and Lucile Packard Foundation
Encyclopedia
The David and Lucile Packard Foundation is a private foundation
that provides grants to not-for-profit organizations. It was created in 1964 by David Packard
(co-founder of HP) and his wife Lucile Salter Packard. Following David Packard's death in 1996, the Foundation became the beneficiary of part of his estate. The foundation's goals, through the use of grants
, are to "improve the lives of children, enable creative pursuit of science, advance reproductive health, and conserve and restore earth’s natural systems." As of 2003, The David and Lucile Packard Foundation was the 6th wealthiest foundation in the United States.
's coast, the Gulf of California
, and the Western Pacific
. It funds marine research and management for coastal-marine systems. It supports energy policy reforms and research in the United States, China, and the Amazon. The program also provides academic grants for university researchers. The foundation also funds the Monterey Bay Aquarium Research Institute
, an oceanography research center, and the Center for Ocean Solutions, which brings together marine science and policy to develop solutions to the challenges facing the ocean.
In 1988, the Foundation established the Packard Fellowships for Science and Engineering to provide funding for research by newly appointed professors. Each year, the Foundation invites the presidents of 50 universities to nominate two early-career professors each from their institutions. An advisory panel of distinguished scientists and engineers carefully reviews the nominations and selects 16 Fellows to receive individual grants of $875,000, distributed over five years. Packard Fellows have gone on to receive additional awards and honors, including the Nobel Prize
; the Fields Medal; and MacArthur, Sloan, Searle, and Guggenheim fellowships.
Private foundation
A private foundation is a legal entity set up by an individual, a family or a group of individuals, for a purpose such as philanthropy. The Bill & Melinda Gates Foundation is the largest private foundation in the U.S. with over $38 billion in assets...
that provides grants to not-for-profit organizations. It was created in 1964 by David Packard
David Packard
David Packard was a co-founder of Hewlett-Packard , serving as president , CEO , and Chairman of the Board . He served as U.S. Deputy Secretary of Defense from 1969–1971 during the Nixon administration...
(co-founder of HP) and his wife Lucile Salter Packard. Following David Packard's death in 1996, the Foundation became the beneficiary of part of his estate. The foundation's goals, through the use of grants
Grant (money)
Grants are funds disbursed by one party , often a Government Department, Corporation, Foundation or Trust, to a recipient, often a nonprofit entity, educational institution, business or an individual. In order to receive a grant, some form of "Grant Writing" often referred to as either a proposal...
, are to "improve the lives of children, enable creative pursuit of science, advance reproductive health, and conserve and restore earth’s natural systems." As of 2003, The David and Lucile Packard Foundation was the 6th wealthiest foundation in the United States.
Financials
An audit conducted by Deloitte & Touche in December 2004 indicated that the total assets for the foundation were $5.4 billion. The foundation had a budget of $160 million in 1997, $275 million in 1998, and $400 million in 1999.Areas of funding
The majority of grants are distributed among three areas: Conservation and Science, Population, and Children, Families, and Communities.Conservation and Science
The Conservation and Science program area is focused on environmental sustainability in ecological systems. It promotes effective management of fisheries and an end to both overfishing and destructive fishing methods. It promotes sustainability in coastal systems in three specific locations: CaliforniaCalifornia
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
's coast, the Gulf of California
Gulf of California
The Gulf of California is a body of water that separates the Baja California Peninsula from the Mexican mainland...
, and the Western Pacific
Pacific Ocean
The Pacific Ocean is the largest of the Earth's oceanic divisions. It extends from the Arctic in the north to the Southern Ocean in the south, bounded by Asia and Australia in the west, and the Americas in the east.At 165.2 million square kilometres in area, this largest division of the World...
. It funds marine research and management for coastal-marine systems. It supports energy policy reforms and research in the United States, China, and the Amazon. The program also provides academic grants for university researchers. The foundation also funds the Monterey Bay Aquarium Research Institute
Monterey Bay Aquarium Research Institute
The Monterey Bay Aquarium Research Institute is a not-for-profit oceanographic research center in Moss Landing, California affiliated with the Monterey Bay Aquarium. It was founded in 1987 by David Packard of Hewlett-Packard fame...
, an oceanography research center, and the Center for Ocean Solutions, which brings together marine science and policy to develop solutions to the challenges facing the ocean.
In 1988, the Foundation established the Packard Fellowships for Science and Engineering to provide funding for research by newly appointed professors. Each year, the Foundation invites the presidents of 50 universities to nominate two early-career professors each from their institutions. An advisory panel of distinguished scientists and engineers carefully reviews the nominations and selects 16 Fellows to receive individual grants of $875,000, distributed over five years. Packard Fellows have gone on to receive additional awards and honors, including the Nobel Prize
Nobel Prize
The Nobel Prizes are annual international awards bestowed by Scandinavian committees in recognition of cultural and scientific advances. The will of the Swedish chemist Alfred Nobel, the inventor of dynamite, established the prizes in 1895...
; the Fields Medal; and MacArthur, Sloan, Searle, and Guggenheim fellowships.