ducation remained among his foremost philanthropic interests throughout his life. THE UNIVERSITY OF CHICAGO As his wealth grew in the 1870s and 1880s, Rockefeller came to favor a cooperative and conditional system of giving in which he would agree to supply part of the sum needed for a particular project if the others interested in it also would provide substantial financial support. It was on such a conditional basis that Rockefeller participated in the founding of the University of Chicago. The American Baptist Education Society had resolved in 1889 to establish a "well-equipped college" in Chicago. At the urging of the societys director, the Rev. Frederick T. Gates, Rockefeller offered to give $600,000 of the first $1 million for endowment, provided the remaining $400,000 was pledged by others within 90 days. Thus begun, the University of Chicago was incorporated in 1890, and over the next twenty years Rockefeller contributed to help build up the institution, always on condition that others should join in its support. In 1910 he made a farewell gift of $10 million, which brought his total contributions to the university to about $35 million. In withdrawing from further activity there, he wrote: "I am acting on an early and permanent conviction that this great institution, being the property of the people, should be controlled, conducted and supported by the people." CORPORATE PHILANTHROPY Rockefeller recognized the difficulties of wisely applying great funds to human welfare, and he helped to define the method of scientific, efficient, corporate philanthropy. The method was this... To create charitable corporations and give them title to great funds, whose management and use would be governed by trustees and overseen by officers with, specialized training and experience. With both the trustees and officers being dedicated to continuous study of the opportunities for the best uses of the funds under their c...
