The Ellison Medical Foundation, a

501(c)(3) A 501(c)(3) organization is a United States corporation, trust, unincorporated association or other type of organization exempt from federal income tax under section 501(c)(3) of Title 26 of the United States Code. It is one of the 29 types of 50 ...

Private Nonoperating Foundation, was founded in 1997 and is located in

Bethesda, Maryland Bethesda () is an unincorporated, census-designated place in southern Montgomery County, Maryland. It is located just northwest of Washington, D.C. It takes its name from a local church, the Bethesda Meeting House (1820, rebuilt 1849), which in ...

. The foundation supported research in the following discipline areas: biomedical research on

aging Ageing ( BE) or aging ( AE) is the process of becoming older. The term refers mainly to humans, many other animals, and fungi, whereas for example, bacteria, perennial plants and some simple animals are potentially biologically immortal. In ...

age-related diseases An aging-associated disease (commonly termed age-related disease, ARD) is a disease that is most often seen with increasing frequency with increasing senescence. They are essentially complications of senescence, distinguished from the aging proc ...

and disabilities. Its major philanthropic support came from

Oracle An oracle is a person or agency considered to provide wise and insightful counsel or prophetic predictions, most notably including precognition of the future, inspired by deities. As such, it is a form of divination. Description The word '' ...

CEO

Larry Ellison Lawrence Joseph Ellison (born August 17, 1944) is an American business magnate and investor who is the co-founder, executive chairman, chief technology officer (CTO) and former chief executive officer (CEO) of the American computer technology ...

. As of 2007, the Foundation owned 1.3 million shares of

Oracle Corporation Oracle Corporation is an American multinational computer technology corporation headquartered in Austin, Texas. In 2020, Oracle was the third-largest software company in the world by revenue and market capitalization. The company sells da ...

. The foundation is classified as

NTEE The National Taxonomy of Exempt Entities (NTEE) is a used by the Internal Revenue Service (IRS) and NCCS to classify U.S. tax-exempt organizations. A specialist from the IRS assigns an NTEE code to each organization exempt under I.R.C. § 501(a) as ...

T99—Other Philanthropy, Voluntarism, and Grantmaking Foundations N.E.C. Since 1998 the Ellison Medical Foundation has spent hundreds of millions of dollars funding fundamental research on the biology of ageing. $40 million per year was given to 25 Senior Scholars and 25 New Scholars. The Senior Scholars received $1 million each and the New Scholars received $400,000 each for 4 years of research. In late summer/early fall 2013 the Ellison Medical Foundation announced that it "will no longer be accepting new applications for New and Senior Scholar awards in Aging, Neuroscience, or other biomedical research topics. All currently funded awards will continue ... but no new applications or letters of intent will be accepted for these or other grant programs."

References

External links

Guidestar Official Nonprofit Report
1997 establishments in Maryland Organizations established in 1997 Biomedical research foundations Medical and health foundations in the United States {{US-health-org-stub