The Richard King Mellon Foundation was created in 1947 by Richard King Mellon, the president and chairman of the Mellon Bank.
The foundation's current giving priorities primarily serve Southwestern Pennsylvania with programs that focus on Regional Economic Development and Conservation, along with Education and Human Services and Nonprofit Capacity Building.
The foundation contributes to variety of endeavors to stimulate business development, to promote economic health in rural areas, to leverage the economic impact of the regional health care, education and cultural assets, and to attract and retain talented people to Southwestern Pennsylvania.
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.