The Smith Richardson Foundation is a

private foundation A private foundation is a tax-exempt organization not relying on broad public support and generally claiming to serve humanitarian purposes. The Bill & Melinda Gates Foundation is the largest private foundation in the U.S. with over $38 billion ...

based in

Westport, Connecticut Westport is a town in Fairfield County, Connecticut, United States, along the Long Island Sound within Connecticut's Gold Coast. It is northeast of New York City. The town had a population of 27,141 according to the 2020 U.S. Census. History ...

that supports policy research in the realms of foreign and domestic public policy. According to the foundation's website, its mission is "to contribute to important public debates and to address serious public policy challenges facing the United States. The Foundation seeks to help ensure the vitality of our social, economic, and governmental institutions. It also seeks to assist with the development of effective policies to compete internationally and to advance U.S. interests and values abroad."

History

The Smith Richardson Foundation was established in 1935 by H. Smith Richardson Sr. and his wife Grace Jones Richardson. Richardson transformed the Vicks Chemical Company, a firm created by his father,

Lunsford Richardson Lunsford Richardson (December 29, 1854 - August 21, 1919) was an American pharmacist from Selma, North Carolina, and the founder of Vick Chemical Company (which became Richardson Vicks Inc.). Early life Lunsford was born in 1854 on a farm near ...

, into one of the leading over-the-counter drug companies in the world. In later years, Richardson-Vicks also became a major force in the market for prescription drugs as well as a wide range of consumer products. In 1985, the Richardson family sold the company to

Procter & Gamble The Procter & Gamble Company (P&G) is an American multinational consumer goods corporation headquartered in Cincinnati, Ohio, founded in 1837 by William Procter and James Gamble. It specializes in a wide range of personal health/consumer hea ...

. In 1973, R. Randolph Richardson assumed the presidency of the Foundation. Richardson was particularly interested in supporting free-market and pro-democratic causes. During his tenure as president, the Foundation played an important role in supporting think tanks and scholars who were active in public policy debates over issues such as defense policy, tax policy, education reform, and regulation. The Foundation also supported pro-democracy organizations in Central and Eastern Europe, the Soviet Union, and Central and South America. In 1992, Peter L. Richardson, a nephew of R. Randolph Richardson, assumed the presidency of the Foundation, while Heather Higgins, the daughter of R. Randolph Richardson, became president of the Randolph Foundation.

Assets and grant making

At the end of 2013, the foundation had assets totaling $521,570,780 according to its federal tax return. During that year, it awarded a total of 411 grants totaling $20,695,903 . SRF has awarded grants to major think tanks and university research centers. Some of the foundation's major grantees include the following: *

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* Paul H. Nitze School of Advanced International Studies (SAIS) at Johns Hopkins *

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Trustees and officers

;Trustees * Peter L. Richardson, Chairman of the Board * Stuart S. Richardson, Vice Chair * Marin J. Strmecki Sr. V.P. and Dir., Progs. * Ross F. Hemphill, V.P. and C.F.O. * Arvid R. Nelson *, Secy. and Gov. * Michael Blair * W. Winburne King, III * Adele Richardson Ray * Lunsford Richardson Jr. * E. William Stetson III

References

{{Authority control Anti-communist organizations in the United States Political and economic research foundations in the United States