Why is Research Corporation for Science Advancement a “corporation?” How is it a foundation?
Research Corporation for Science Advancement is one of the country’s first foundations, established before the term “foundation” came into popular use (the Carnegie Corporation is another nonprofit that shares this terminology). Research Corporation was established in New York State in 1912 as a stock-issuing corporation that would own all of its own stock and could never pay dividends. Its original objectives were to develop donated inventions and to use any income from the original electrostatic precipitator invention for grants to perform scholarly research.
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