The Smith Richardson Foundation is financed by the Vicks Vaporub fortune. The foundation reported assets of $494 million in 2001 and gave away $23 million.
The foundation became active in supporting conservative causes in 1973 when R. Richardson Randolph became its president. Forbes estimates the Richardsons to have a net worth of $870 million, which makes them one of the U.S.'s richest families. [1] (http://www.mediatransparency.org/funders/smith_richardson_foundation.htmI). It has awarded grants of $99,686,911 to a total of 266 organizations, including:
The SmithRichardsonFoundation (SRF) is was funded in 1935 by the charitable contributions of Henry SmithRichardson, Sr., the principle creator of the Vicks Vaporub fortune.
Richardson's leadership, SRF was an early supporter of such intellectual movements as supply-side and monetarist econnomics, and neo-conservatism in general.
As a result of this conflict, Peter Richardson (nephew of R. Randolph) became president in 1992, while a much smaller entity, The Randolph Foundation, (TRF), was created in the same year controlled largely by R. Randolph Richardson and his daughter, Heather Higgins.
The Richardsons are estimated by Forbes to have a net worth of $870 million, making them one of the country's richest families.
According to the SmithRichardsonFoundation Year 2001 IRS 990, the foundation now has assets of $494 million (fair market value).
According to the SmithRichardsonFoundation Year 2000 annual report, the foundation lost more than $65 million in the year 2000 due to their crappy investment performance.
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