Warner–Lambert was an American pharmaceutical company .
90-543: Formerly two separate entities, the first company was started in 1856, when William R. Warner founded a drug store in Philadelphia. Warner went on to invent a tablet coating process gaining him a place in the Smithsonian Institution . William R. Warner and Company Limited acquired several other cosmetics companies in the early 20th century, and was renamed Warner-Hudnut, Inc. in 1950. The second half of
180-574: A nonprofit corporation , a charitable foundation , or a private foundation that, while serving a good cause, might not qualify as a public charity. In some jurisdictions, it is common for endowed funds to be established as a trust independent of the organizations and the causes the endowment is meant to serve. Institutions that commonly manage endowments include academic institutions (e.g., colleges , universities , and private schools ); cultural institutions (e.g., museums, libraries, and theaters); service organizations (e.g., hospitals, retirement homes;
270-516: A 30% annualized loss that was more than predicted in December 2008. At Stanford University , the endowment was reduced from $ 17 billion to $ 12 billion as of September 2009. Brown University 's endowment fell 27 percent to $ 2.04 billion in the fiscal year that ended June 30, 2009. George Washington University lost 18% in that same fiscal year, down to $ 1.08 billion. In Canada, after the financial crisis in 2008, University of Toronto reported
360-584: A botanical garden, and a museum that was designed to have a national and permanent status. The former occupied space where the present Botanic Garden sits. The museum contained specimens of zoology, botany, archeology, fossils, etc., some of which were passed on to the Smithsonian Institution after its formation. The institute's charter expired in 1838, but its spirit lived on in the National Institution , founded in 1840. With
450-453: A building, plot of land or other assets for Muslim religious or charitable purposes with no intention of reclaiming the assets. The donated assets may be held by a charitable trust . Ibn Umar reported, Umar Ibn Al-Khattab got land in Khaybar , so he came to the prophet Muhammad and asked him to advise him about it. The Prophet said, 'If you like, make the property inalienable and give
540-419: A loss of 31% ($ 545 million) of its previous year-end value in 2009. The loss is attributed to over-investment in hedge funds. Critics like Justice Funders' Dana Kawaoka-Chen call for "redistributing all aspects of well-being, democratizing power, and shifting economic control to communities.". Endowment repatriation refers to campaigns that acknowledge the history of human and natural resource exploitation that
630-633: A man dies, only three deeds will survive him: continuing alms, profitable knowledge and a child praying for him. The two oldest known waqfiya (deed) documents are from the 9th century, while a third one dates from the early 10th century, all three within the Abbasid Period. The oldest dated waqfiya goes back to 876 CE, concerns a multi-volume Qur'an edition and is held by the Turkish and Islamic Arts Museum in Istanbul . A possibly older waqfiya
720-583: A mandatory part of a fellowship. A foundation (also a charitable foundation) is a category of nonprofit organization or charitable trust that will typically provide funding and support for other charitable organizations through grants, but may engage directly in charitable activities. Foundations include public charitable foundations, such as community foundations , and private foundations which are typically endowed by an individual or family. The term foundation though may also be used by organizations not involved in public grant-making. A financial endowment
810-473: A number of restricted endowments that are intended to fund specific areas within the institution. The most common examples are endowed professorships (also known as named chairs), and endowed scholarships or fellowships. The practice of endowing professorships began in the modern European university system in England on September 8, 1502, when Lady Margaret Beaufort , Countess of Richmond and grandmother to
900-591: A paid, one-month internship. Pilar O'Leary launched the program when she served as executive director of the Smithsonian Latino Center. According to the Latino Center, O'Leary told the press in 2007: "Our goal is to help our Young Ambassadors become the next generation of leaders in the arts and culture fields. This program encourages students to be proud of their roots and learn more about their cultural heritage to inspire them to educate
990-429: A particular subject are common; in some places, a donor could fund a trust exclusively for the support of a pet. Ignoring the restriction is called " invading " the endowment. But change of circumstance or financial duress like bankruptcy can preclude carrying out the donor's intent. A court can alter the use of restricted endowment under a doctrine called cy-près meaning to find an alternative "as near as possible" to
SECTION 10
#17327768356651080-414: A pool of financial , real estate , or other investments for a specific purpose according to the will of its founders and donors . Endowments are often structured so that the inflation-adjusted principal or "corpus" value is kept intact, while a portion of the fund can be (and in some cases must be) spent each year, utilizing a prudent spending policy. Endowments are often governed and managed either as
1170-451: A portion of the initial endowment after self-initiated research into the foundation's financial support of Native and Indigenous artists and communities. This results of this research indicated "the inadequacy of philanthropic support for Native arts and artists", related feedback from an unnamed Native leader that "[o]nce [big foundations] put the stuff in place for an Indian program, then it is not usually funded very well. It lasts as long as
1260-452: A prince or monarch and their role in training government officials made early Mediterranean universities similar to Islamic madrasas , although madrasas were generally smaller, and individual teachers, rather than the madrasa itself, granted the license or degree. Waqf ( Arabic : وَقْف ; [ˈwɑqf] ), also known as 'hubous' (حُبوس) or mortmain property, is a similar concept from Islamic law , which typically involves donating
1350-478: A private prison that was directly contrary to the foundation's mission, they developed and then began to advocate for a four-part ethical framework to endowment investments conceptualized as Human Capital, Natural Capital, Civic Capital, and Financial Capital. Another example is the Ford Foundation 's co-founding of the independent Native Arts and Culture Foundation in 2007. The Ford Foundation provided
1440-527: A year and includes as ex officio members the chief justice of the United States and the vice president of the United States . The nominal head of the institution is the chancellor , an office which has traditionally been held by the chief justice. In September 2007, the board created the position of chair of the Board of Regents, a position currently held by Risa Lavizzo-Mourey . Other members of
1530-671: Is a papyrus held by the Louvre Museum in Paris , with no written date but considered to be from the mid-9th century. The earliest known waqf in Egypt, founded by financial official Abū Bakr Muḥammad bin Ali al-Madhara'i in 919 (during the Abbasid period ), is a pond called Birkat Ḥabash together with its surrounding orchards, whose revenue was to be used to operate a hydraulic complex and feed
1620-465: Is inherent to many large private funds. Repatriation campaigns ask for private endowments to be returned to the control of the people and communities that have been most affected by labor and environmental exploitation and often offer ethical frameworks for discussing endowment governance and repatriation. Many might say that, by definition, philanthropy is about redistributing resources. Yet to truly embody this principle, philanthropy must move far beyond
1710-469: Is interested, might be interested or ought to be interested". Another Secretary of the Smithsonian, Walter Boyne, founded Air & Space . The organization publishes under the imprints Smithsonian Institution Press, Smithsonian Books, and Smithsonian Institution Scholarly Press. The Smithsonian makes a number of awards to acknowledge and support meritorious work. The Smithsonian Institution
1800-525: Is now known as medicine and basic sciences. Today, the University of Glasgow has fifteen Regius Professorships. Private individuals also adopted the practice of endowing professorships. Isaac Newton held the Lucasian Chair of Mathematics at Cambridge beginning in 1669, more recently held by the celebrated physicist Stephen Hawking . In the United States, the endowment is often integral to
1890-541: Is the second wealthiest private foundation , with an endowment of $ 67.3 billion. Most private endowments in the United States are governed by the Uniform Prudent Management of Institutional Funds Act which is based in part on the concept of donor intent that helps define what restrictions are imposed on the principal and earnings of the fund. Endowments in the United States are commonly categorized in one of three ways: All endowments ensure that
SECTION 20
#17327768356651980-403: Is typically overseen by a board of trustees and managed by a trustee or team of professional managers. Typically, the financial operation of the endowment is designed to achieve the stated objectives of the endowment. In the United States, typically 4–6% of the endowment's assets are spent every year to fund operations or capital spending. Any excess earnings are typically reinvested to augment
2070-544: The Marquis de Lafayette . Operating expenses were covered from the $ 5 yearly dues collected from each member. The institute proposed a number of undertakings. These included the study of plant life and the creation of a botanical garden on the Capitol Mall , an examination of the country's mineral production, improvement in the management and care of livestock, and the writing of a topographical and statistical history of
2160-777: The National Museum of African Art and the Arthur M. Sackler Gallery opened in a new, joint, underground museum between the Freer Gallery and the Smithsonian Castle. Reuse of another old building came in 1993 with the opening of the National Postal Museum in the 1904 former City Post Office building, a few city blocks from the Mall. In 2004, the Smithsonian opened the National Museum of
2250-661: The National Museum of African Art , as well as the National Gallery of Art , were formally returned to Nigerian cultural officials in a ceremony held in Washington D.C. The Nigerian Minister of Information and Culture, Lai Mohammed , and Prince Aghatise Erediauwa, representing the Oba of Benin Kingdom, spoke at the ceremony. Mohammed said the "decision to return the timeless artworks is worth emulating." In February 2020,
2340-516: The Red Cross ); and religious organizations (e.g., churches, synagogues, mosques). Private endowments are some of the wealthiest entities in the world, notably private higher education endowments . Harvard University's endowment (valued at $ 53.2 billion as of June 2021 ) is the largest academic endowment in the world. As of 31 December 2022 , the Bill and Melinda Gates Foundation
2430-498: The Renwick Gallery . A smaller amount of funds would go to educational initiatives and digitization of collections. As of September 2017, the Smithsonian claimed to have raised $ 1.79 billion, with three months left in the formal campaign calendar. Separately from the major capital campaign, the Smithsonian has begun fundraising through Kickstarter . An example is a campaign to fund the preservation and maintenance of
2520-505: The Smithsonian , is a group of museums , education and research centers , the largest such complex in the world, created by the U.S. government "for the increase and diffusion of knowledge." Founded on August 10, 1846, it operates as a trust instrumentality and is not formally a part of any of the three branches of the federal government . The institution is named after its founding donor, British scientist James Smithson . It
2610-541: The Smithsonian American Women's History Museum . In 2011, the Smithsonian undertook its first-ever capital fundraising campaign. The $ 1.5 billion effort raised $ 1 billion at the three-year mark. Smithsonian officials made the campaign public in October 2014 in an effort to raise the remaining $ 500 million. More than 60,000 individuals and organizations donated money to the campaign by
2700-632: The South Pacific Ocean . These specimens and artifacts became part of the Smithsonian collections, as did those collected by several military and civilian surveys of the American West , including the Mexican Boundary Survey and Pacific Railroad Surveys , which assembled many Native American artifacts and natural history specimens. In 1846, the regents developed a plan for weather observation; in 1847, money
2790-458: The deaccession and restitution of items collected under circumstances considered unethical by contemporary standards and thus places moral over legal arguments. A month before, the Smithsonian's National Museum of African Art had announced the planned return of most of its 39 Benin Bronzes to Nigeria , as well as of other cultural items to Turkey . On October 11, 2022, Benin Bronzes from
Warner–Lambert - Misplaced Pages Continue
2880-542: The privilege of the floor at the United States Senate . On September 18, 2013, Secretary G. Wayne Clough announced he would retire in October 2014. The Smithsonian Board of Regents said it asked regent John McCarter, Jr., to lead a search committee. On March 10, 2014, the Smithsonian Board selected David Skorton , a physician and president of Cornell University , as the thirteenth secretary of
2970-1074: The ruby slippers worn by Judy Garland for her role as Dorothy Gale in the 1939 film The Wizard of Oz . Nineteen museums and galleries, as well as the National Zoological Park , comprise the Smithsonian museums. Eleven are on the National Mall , the park that runs between the Lincoln Memorial and the United States Capitol . Other museums are located elsewhere in Washington, D.C., with two more in New York City and one in Chantilly, Virginia . The Smithsonian has close ties with 168 other museums in 39 states, Panama , and Puerto Rico . These museums are known as Smithsonian Affiliated museums. Collections of artifacts are given to these museums in
3060-556: The "live hand" of the public as opposed to the "dead hand" of the founders of private foundations. Research published in the American Economic Review indicates that major academic endowments often act in times of economic downturn in a way opposite of the intention of the endowment. This behavior is referred to as endowment hoarding, reflecting the way that economic downturns often lead to endowments decreasing their payouts rather than increasing them to compensate for
3150-578: The 5% payout requirements for grants and distribute ALL of its power and resources. This includes spending down one's endowment, investing in local and regional economic initiatives that build community wealth rather than investing in Wall Street, giving up decision-making power for grants, and, ultimately, turning over assets to community control. After the Heron Foundation's internal audit of its investments in 2011 uncovered an investment in
3240-611: The American Indian in a new building near the United States Capitol . Twelve years later almost to the day, in 2016, the latest museum opened: the National Museum of African American History and Culture , in a new building near the Washington Monument . Two more museums have been established and are being planned for eventual construction on the mall: the National Museum of the American Latino and
3330-567: The Board of Regents are three members of the U.S. House of Representatives appointed by the speaker of the House ; three members of the Senate, appointed by the president pro tempore of the Senate ; and nine citizen members, nominated by the board and approved by the Congress in a joint resolution signed by the president of the United States. Regents who are senators or representatives serve for
3420-602: The GDP at the time it may be more comparable to $ 220 million in the year 2007. Once the money was in hand, eight years of congressional haggling ensued over how to interpret Smithson's rather vague mandate "for the increase and diffusion of knowledge." The money was invested by the US Treasury in bonds issued by the state of Arkansas, which soon defaulted. After heated debate, Massachusetts representative (and former president) John Quincy Adams persuaded Congress to restore
3510-510: The National Museum of African-American Heritage and Culture. The opening of the center was prompted, in part, by the publishing of a report called "Willful Neglect: The Smithsonian and U.S. Latinos". According to documents obtained by The Washington Post , when former Latino Center executive director Pilar O'Leary first took the job, the center faced employees who had "serious performance issues". No performance plans existed for
3600-489: The Smithsonian Libraries and Smithsonian Archives merged into one research center in 2020. The Smithsonian Institution includes three cultural centers among its units: In 1997, the Smithsonian Latino Center was created as a way to recognize Latinos across the Smithsonian Institution. The primary purpose of the center is to place Latino contributions to the arts, history, science, and national culture across
3690-646: The Smithsonian and funds to build the museum to hold it (which was named the Freer Gallery ), it was among the Smithsonian's first major donations from a private individual. The gallery opened in 1923. More than 40 years would pass before the next museum, the Museum of History and Technology (renamed the National Museum of American History in 1980), opened in 1964. It was designed by the world-renowned firm of McKim, Mead & White . The Anacostia Community Museum , an "experimental store-front" museum created at
Warner–Lambert - Misplaced Pages Continue
3780-501: The Smithsonian made 2.8 million digital items available to the public under a Creative Commons Zero Public Domain Dedication, with a commitment to release further items in the future. The Smithsonian has eight research centers, located in Washington, D.C.; Front Royal, Virginia ; Edgewater, Maryland ; Suitland, Maryland ; Fort Pierce, Florida ; Cambridge, Massachusetts ; and Panama . Formerly two separate entities,
3870-683: The Smithsonian's Department of Living Animals. The park was designed by landscape architect Frederick Law Olmsted . The National Museum of Natural History opened in June 1911 to similarly accommodate the Smithsonian's United States National Museum, which had previously been housed in the Castle and then the Arts and Industries Building. This structure was designed by the D.C. architectural firm of Hornblower & Marshall . When Detroit philanthropist Charles Lang Freer donated his private collection to
3960-411: The Smithsonian's museums and research centers. The center is a division of the Smithsonian Institution. As of May 2016, the center is run by an executive director, Eduardo Díaz. At the time of its creation, the Smithsonian Institution had other entities dedicated to other minority groups: National Museum of the American Indian, Freer-Sackler Gallery for Asian Arts and Culture, African Art Museum, and
4050-484: The Smithsonian, slightly increased from previous years. Institution exhibits are free of charge, though in 2010 the Deficit Commission recommended admission fees. As approved by Congress on August 10, 1846, the legislation that created the Smithsonian Institution called for the creation of a Board of Regents to govern and administer the organization. This seventeen-member board meets at least four times
4140-532: The Smithsonian. Though the Smithsonian's first secretary, Joseph Henry , wanted the institution to be a center for scientific research, it also became the depository for various Washington and U.S. government collections. The United States Exploring Expedition by the U.S. Navy circumnavigated the globe between 1838 and 1842. The voyage amassed thousands of animal specimens, an herbarium of 50,000 plant specimens, and diverse shells and minerals, tropical birds, jars of seawater, and ethnographic artifacts from
4230-429: The Smithsonian. Skorton took the reins of the institution on July 1, 2015. Upon Skorton's announced resignation in 2019, the Board selected Lonnie Bunch III , the founding director of the Smithsonian's National Museum of African American History and Culture , as the fourteenth secretary. Financial endowment A financial endowment is a legal structure for managing, and in many cases indefinitely perpetuating,
4320-431: The United States. An endowed professorship (or endowed chair ) is a position permanently paid for with the revenue from an endowment fund specifically set up for that purpose. To set up an endowed chair generally costs between US$ 1 and $ 5 million at major research universities. Typically, the position is designated to be in a certain department. The donor might be allowed to name the position. Endowed professorships aid
4410-595: The United States. Reports were to be published periodically to share this knowledge with the greater public, but due to a lack of funds, this initially did not occur. The institute first met in Blodget's Hotel, later in the Treasury Department and City Hall, before being assigned a permanent home in 1824 in the Capitol building. Beginning in 1825, weekly sittings were arranged during sessions of Congress for
4500-468: The academic world, and the university can use them to reward its best faculty or to recruit top professors from other institutions. An endowed faculty fellow is a position permanently paid for to recruit and retain new and/or junior (and above) professors who have already demonstrated superior teaching and research. The donor might be allowed to name the faculty fellowship. A faculty fellow appointment cultivates confidence and institutional loyalty, keeping
4590-615: The construction of the Arts and Industries Building in 1881. Congress had promised to build a new structure for the museum if the 1876 Philadelphia Centennial Exposition generated enough income. It did, and the building was designed by architects Adolf Cluss and Paul Schulze, based on original plans developed by Major General Montgomery C. Meigs of the United States Army Corps of Engineers . It opened in 1881. The National Zoological Park opened in 1889 to accommodate
SECTION 50
#17327768356654680-736: The donor's intent. The earliest endowed chairs were established by the Roman emperor and Stoic philosopher Marcus Aurelius in Athens in AD 176. Aurelius created one endowed chair for each of the major schools of philosophy : Platonism , Aristotelianism , Stoicism , and Epicureanism . Later, similar endowments were set up in some other major cities of the Empire. The earliest universities were founded in Europe, Asia and Africa. Their endowment by
4770-532: The downturn. Large U.S.-based college and university endowments, which had posted large, highly publicized gains in the 1990s and 2000s, faced significant losses of principal in the 2008 economic downturn . The Harvard University endowment , which held $ 37 billion in June 2008, was reduced to $ 26 billion by mid-2009. Yale University , the pioneer of an approach that involved investing heavily in alternative investments such as real estate and private equity , reported an endowment of $ 16 billion as of September 2009,
4860-401: The duration of their elected terms, while citizen Regents serve a maximum of two six-year terms. Regents are compensated on a part-time basis. The chief executive officer (CEO) of the Smithsonian is the secretary, who is appointed by the Board of Regents. The secretary also serves as secretary to the Board of Regents but is not a voting member of that body. The secretary of the Smithsonian has
4950-443: The end of apartheid, more than 150 universities divested of South African investments, although it is not clear to what extent this campaign was responsible for ending the policy. A proactive version of divestment campaigns is impact investing, or mission investing which refers to investments "made into companies, organizations, and funds with the intention to generate a measurable, beneficial social or environmental impact alongside
5040-468: The endowment and to compensate for inflation and recessions in future years. This spending figure represents the proportion that historically could be spent without diminishing the principal amount of the endowment fund. The case of Leona Helmsley is often used to illustrate the downsides of the legal concept of donor intent as applied to endowments. In the 2000s, Helmsley bequested a multi-billion dollar trust to "the care and welfare of dogs". This trust
5130-426: The financial health of educational institutions. Alumni or friends of institutions sometimes contribute capital to the endowment. The use of endowment funding is strong in the United States and Canada but less commonly found outside of North America, with the exceptions of Cambridge and Oxford universities. Endowment funds have also been created to support secondary and elementary school districts in several states in
5220-944: The form of long-term loans. The Smithsonian also has a large number of traveling exhibitions, operated through the Smithsonian Institution Traveling Exhibition Service (SITES). In 2008, 58 of these traveling exhibitions went to 510 venues across the country. Smithsonian collections include 156 million artworks, artifacts, and specimens. The National Museum of Natural History houses 145 million of these specimens and artifacts, which are mostly animals preserved in formaldehyde. The Collections Search Center has 9.9 million digital records available online. The Smithsonian Institution Libraries hold 2 million library volumes. Smithsonian Archives hold 156,830 cubic feet (4,441 m ) of archival material. The Smithsonian Institution has many categories of displays that can be visited at
5310-486: The future king Henry VIII , created the first endowed chairs in divinity at the universities of Oxford ( Lady Margaret Professor of Divinity ) and Cambridge ( Lady Margaret's Professor of Divinity ). Nearly 50 years later, Henry VIII established the Regius Professorships at both universities, this time in five subjects: divinity, civil law, Hebrew, Greek, and physic—the last of those corresponding to what
5400-857: The initiative of Smithsonian Secretary S. Dillon Ripley , opened in the Anacostia neighborhood of Washington, D.C., in 1967. That same year, the Smithsonian signed an agreement to take over the Cooper Union Museum for the Arts of Decoration (now the Cooper Hewitt, Smithsonian Design Museum ). The National Portrait Gallery and the Smithsonian American Art Museum opened in the Old Patent Office Building (built in 1867) on October 7, 1968. The reuse of an older building continued with
5490-545: The institution competitive over hiring and retention of talents. An endowed scholarship is tuition (and possibly other costs) assistance that is permanently paid for by an organisation or individual with the revenue of an endowment fund specifically set up for that purpose. It can be either merit-based or need-based (the latter is only awarded to those students for whom the college expense would cause their family financial hardship) depending on university policy or donor preferences. Some universities will facilitate donors' meeting
SECTION 60
#17327768356655580-494: The institution's 30 million annual visitors are admitted without charge, the exception being Cooper Hewitt, Smithsonian Design Museum in New York City, which charges an admissions fee. The Smithsonian's annual budget is around $ 1.25 billion, with two-thirds coming from annual federal appropriations. Other funding comes from the institution's endowment , private and corporate contributions, membership dues, and earned retail, concession, and licensing revenue. As of 2021,
5670-552: The institution's endowment had a total value of about $ 5.4 billion. In many ways, the origin of the Smithsonian Institution can be traced to a group of Washington citizens who, being "impressed with the importance of forming an association for promoting useful knowledge," met on June 28, 1816, to establish the Columbian Institute for the Promotion of Arts and Sciences . Officers were elected in October 1816, and
5760-531: The legacy bequeathed to the nation and pledged the faith of the United States to the charitable trust on July 1, 1836. The American diplomat Richard Rush was dispatched to England by President Andrew Jackson to collect the bequest. Rush returned in August 1838 with 105 sacks containing 104,960 gold sovereigns . This is approximately $ 500,000 at the time, which is equivalent to $ 14,000,000 in 2023 or equivalent to £12,000,000 in 2023. However, when considering
5850-400: The lost funds with interest and, despite designs on the money for other purposes, convinced his colleagues to preserve it for an institution of science and learning. Finally, on August 10, 1846, President James K. Polk signed the legislation that established the Smithsonian Institution as a trust instrumentality of the United States, to be administered by a Board of Regents and a secretary of
5940-594: The market. By 1999, Warner-Lambert was in agreement to merge with American Home Products , before Pfizer made its own offer to acquire the company. In February 2000, Pfizer bought Warner Lambert along with all of its subsidiary companies. The headquarters of Warner–Lambert in Morris Plains, New Jersey , was subsequently used by Pfizer, Johnson & Johnson , and Honeywell . Smithsonian Institution The Smithsonian Institution ( / s m ɪ θ ˈ s oʊ n i ə n / smith- SOH -nee-ən ), or simply
6030-741: The merged business. In 1962, Warner-Lambert bought American Chicle, one of the world's largest manufacturers of gums and mints. The 1965 acquisition of a small cough tablet company in the United Kingdom resulted in the success of the Halls Mentho-Lyptus brand on a global scale. In 1970, Warner-Lambert bought the Schick razor blade company, founded in 1926 by Jacob Schick. In the same year, they also took over Parke-Davis , founded in Detroit in 1866, by Hervey Parke and George Davis. This
6120-452: The mission to "promote science and the useful arts, and to establish a national museum of natural history," this organization continued to press Congress to establish a museum that would be structured in terms that were very similar to those finally incorporated into the founding of the Smithsonian Institution. Its work helped to develop an underlying philosophy that pushed for the pursuit and development of scientific knowledge that would benefit
6210-629: The museums. In 1912, First Lady Helen Herron Taft donated her inauguration gown to the museum to begin the First Ladies' Gown display at the National Museum of American History , one of the Smithsonian's most popular exhibits. The museum displays treasures such as the Star-Spangled Banner , the stove pipe hat that was worn by President Abraham Lincoln , the ruby slippers worn by Judy Garland in The Wizard Of Oz , and
6300-463: The name came from Jordan Wheat Lambert, founder of the Lambert Pharmacal Company of St. Louis, famous for Listerine . The two companies merged in 1955, to form Warner–Lambert. Over the years, the company expanded through many mergers and acquisitions to become an international competitor in several businesses. In 1956, Warner–Lambert acquired Nepera Chemical (the makers of Anahist) from the Lasdon family, many of whom then became officers and directors of
6390-473: The nation, and edify its citizens at the same time. The British scientist James Smithson (1765–1829) left most of his wealth to his nephew Henry James Hungerford. When Hungerford died childless in 1835, the estate passed "to the United States of America, to found at Washington, under the name of the Smithsonian Institution, an Establishment for the increase & diffusion of knowledge among men", in accordance with Smithson's will. Congress officially accepted
6480-621: The opening of the Renwick Gallery in 1972 in the 1874 Renwick-designed art gallery originally built by local philanthropist William Wilson Corcoran to house the Corcoran Gallery of Art . The first new museum building to open since the National Museum of History and Technology was the Hirshhorn Museum and Sculpture Garden , which opened in 1974. The National Air and Space Museum , the Smithsonian's largest in terms of floor space, opened in June 1976. Eleven years later,
6570-809: The organization was granted a charter by Congress on April 20, 1818 (this charter expired in 1838). Benjamin Latrobe , who was architect for the US Capitol after the War of 1812, and William Thornton , the architect who designed the Octagon House and Tudor Place , would serve as officers. Other prominent members, who numbered from 30 to 70 during the institute's existence, included John Quincy Adams , Andrew Jackson , Henry Clay , Judge William Cranch , and James Hoban . Honorary members included James Madison , James Monroe , John Adams , Thomas Jefferson , and
6660-443: The original Teddy Bear that was named after President Theodore Roosevelt . In 2016, the Smithsonian's Air & Space museum curators restored the large model Enterprise from the original Star Trek TV series. Following international debates about the decolonisation of museums and the legal and moral justifications of their acquisitions, the Smithsonian adopted a new "ethical returns policy" on April 29, 2022. This will permit
6750-463: The original principal, inflation-adjusted, is held in perpetuity and prudent spending methods should be applied in order to avoid the erosion of corpus over reasonable time frames. Restricted endowments may also facilitate additional donor requirements. An expendable endowment fund is one which can be spent in certain circumstances. Endowment revenue can be restricted by donors to serve many purposes. Endowed professorships or scholarships restricted to
6840-516: The poor. In India, wakfs are relatively common among Muslim communities and are regulated by the Central Wakf Council and governed by Wakf Act 1995 (which superseded Wakf Act 1954). Academic institutions, such as colleges and universities, will frequently control an endowment fund that finances a portion of the operating or capital requirements of the institution. In addition to a general endowment fund, each university may also control
6930-426: The profit from it to charity.'" It goes on to say that Umar gave it away as alms, that the land itself would not be sold, inherited or donated. He gave it away for the poor, the relatives, the slaves, the jihad , the travelers and the guests. And it will not be held against him who administers it if he consumes some of its yield in an appropriate manner or feeds a friend who does not enrich himself by means of it. When
7020-438: The program officer who had an interest and then goes away" and recommended that an independent endowment be established and that "[n]ative leadership is crucial". Another approach to reforming endowments is the use of divestment campaigns to encourage endowments to not hold unethical investments. One of the earliest modern divestment campaigns was Disinvestment from South Africa which was used to protest apartheid policies. By
7110-422: The public in their own communities about how Latinos are enriching America's cultural fabric." The institution publishes Smithsonian magazine monthly and Air & Space magazine bimonthly. Smithsonian was the result of Secretary of the Smithsonian S. Dillon Ripley asking the retired editor of Life magazine Edward K. Thompson to produce a magazine "about things in which the Smithsonian Institution
7200-419: The reading of scientific and literary productions, but this was continued for only a short time, as the number attending declined rapidly. Eighty-five communications by 26 people were made to Congress during the entire life of the society, with more than a half relating to astronomy or mathematics. Among all the activities planned by the institute, only a few were actually implemented. Two were the establishment of
7290-640: The staff and unfulfilled financial obligations to sponsors existed. The website's quality was poor, and the center did not have a public affairs manager, a programs director, adequate human resources support, or cohesive mission statement. After difficult times in the first few years, the center improved. According to the Smithsonian, the center "support[s] scholarly research, exhibitions, public and educational programs, web-based content and virtual platforms, and collections and archives. [It] also manage[s] leadership and professional development programs for Latino youth, emerging scholars and museum professionals." Today,
7380-399: The students they are helping. The amount that must be donated to start an endowed scholarship can vary greatly. Fellowships are similar, although they are most commonly associated with graduate students. In addition to helping with tuition, they may also include a stipend. Fellowships with a stipend may encourage students to work on a doctorate . Frequently, teaching or working on research is
7470-473: The time it went public. This included 192 gifts of at least $ 1 million. Members of the boards of directors of various Smithsonian museums donated $ 372 million. The Smithsonian said that funds raised would go toward completion of the National Museum of African American History and Culture building, and renovations of the National Air and Space Museum , National Museum of American History , and
7560-430: The university by providing a faculty member who does not have to be paid entirely out of the operating budget, allowing the university to either reduce its student-to-faculty ratio, a statistic used for college rankings and other institutional evaluations, or direct money that would otherwise have been spent on salaries toward other university needs. In addition, holding such a professorship is considered to be an honour in
7650-546: The website features a high-tech virtual museum including self-guided virtual tours of past and present exhibits. The Smithsonian Latino Center's Young Ambassadors Program (YAP) is a program within the Latino Center that reaches out to Latino high school students with the goal of encouraging them to become leaders in arts, sciences, and the humanities. Students selected for the program travel to Washington, D.C. for an "enrichment seminar" that lasts approximately five days. Afterwards, students return to their communities to serve in
7740-850: Was appropriated for meteorological research. The institution became a magnet for young scientists from 1857 to 1866, who formed a group called the Megatherium Club . The Smithsonian played a critical role as the US partner institution in early bilateral scientific exchanges with the Academy of Sciences of Cuba . Construction began on the Smithsonian Institution Building ("the Castle") in 1849. Designed by architect James Renwick Jr. , its interiors were completed by general contractor Gilbert Cameron. The building opened in 1855. The Smithsonian's first expansion came with
7830-559: Was established as a trust instrumentality by act of Congress. More than two-thirds of the Smithsonian's workforce of some 6,300 persons are employees of the federal government. The Smithsonian Institution Office of Protection Services oversees security at the Smithsonian facilities and enforces laws and regulations for National Capital Parks together with the United States Park Police . The president's 2011 budget proposed just under $ 800 million in support for
7920-539: Was estimated at the time to total 10 times more than the combined 2005 assets of all registered animal-related charities in the United States. In 1914, Frederick Goff sought to eliminate the "dead hand" of organized philanthropy and so created the Cleveland Foundation : the first community foundation . He created a corporately structured foundation that could utilize community gifts in a responsive and need-appropriate manner. Scrutiny and control resided in
8010-655: Was followed by acquisitions of Wilkinson Sword in March 1993, and Agouron Pharmaceuticals in January 1999. Its subsidiary Parke-Davis marketed the antidiabetic drug Rezulin , which was approved by the FDA in January 1997 but withdrawn by them in early 2000. In the end of the 1990s, Warner–Lambert formed an alliance with Pfizer to bring its drug Lipitor to market. Lipitor launched in January 1997 to resounding success, reaching $ 1B in domestic sales within its first twelve months on
8100-849: Was originally organized as the United States National Museum , but that name ceased to exist administratively in 1967. The Smithsonian Institution has historical holdings of over 157 million items, 21 museums, 21 libraries, 14 education and research centers, a zoo, and historical and architectural landmarks, mostly located in Washington, D.C. Additional facilities are located in Maryland , New York , and Virginia . More than 200 institutions and museums in 47 states , Puerto Rico , and Panama are Smithsonian Affiliates . Institution publications include Smithsonian and Air & Space magazines. Almost all of
#664335