Knight foundation is a private, independent foundation that started with the Knight family's belief in the value of education. The Knight Memorial Education Fund was established in 1940 to provide financial aid to college students from the Akron area.
The Knight Foundation supports transformational ideas that promote quality journalism, advance media innovation, engage communities, and foster the arts.
They help sustain democracy by leading journalism to its best possible future in the 21st century. They focus on funding Media Innovation, Journalistic Excellence, and Freedom of Expression.
Senay Ataselim-Yilmaz, Chief Operating Officer, Turkish Philanthropy Funds, writes that philanthropy often solves the very problems that stems from market failure. Some social issues, however, cannot be tackled by questioning the return on investment.