Was Howard Hughes a philanthropist?

Was Howard Hughes a philanthropist?

Suddenly, the Howard Hughes Medical Institute became the richest philanthropy in the world — slightly exceeding the $5-billion Ford Foundation, its nearest competitor. In March 1987, the institute and the IRS reached a 10-year agreement that the institute would remain a tax-exempt medical research organization.

How do you become a Howard Hughes investigator?

The Investigator Program is open to individuals who: hold a PhD and/or MD (or the equivalent). have a tenured or tenure-track position as an assistant professor or higher academic rank (or the equivalent) at an eligible US institution. Federal government employees are not eligible.

How many HHMI are there?

HHMI employs and supports more than 250 Investigators, who are based at over 60 universities, colleges, and other research institutions across the US. In addition to their research programs, HHMI Investigators participate in educational activities and hold leadership roles at these host institutions.

Is HHMI tax exempt?

HOWARD HUGHES MEDICAL INSTITUTE, fiscal year ending Aug. 2019

Organization zip code Tax code designation Ruling date of organization’s tax exempt status
20815-6720 501(c)(3) 1957-03-01

What is the Howard Hughes Medical Institute?

The Howard Hughes Medical Institute (HHMI) is an American non-profit medical research organization based in Chevy Chase, Maryland. It was founded by the American businessman Howard Hughes in 1953. It is one of the largest private funding organizations for biological and medical research in the United States.

Who is Howard Hughes?

Howard Hughes. Jump to navigation Jump to search. Howard Robard Hughes Jr. (December 24, 1905 – April 5, 1976) was an American business magnate, investor, record-setting pilot, engineer, film director, and philanthropist, known during his lifetime as one of the most financially successful individuals in the world.

What happened to Howard Hughes’s estate?

Hughes’s $2.5 billion estate was eventually split in 1983 among 22 cousins, including William Lummis, who serves as a trustee of the Howard Hughes Medical Institute. The Supreme Court of the United States ruled that Hughes Aircraft was owned by the Howard Hughes Medical Institute, which sold it to General Motors in 1985 for $5.2 billion.

What happened to the Hughes Aircraft Company?

In 1953 Howard Hughes gave all his stock in the Hughes Aircraft Company to the newly formed Howard Hughes Medical Institute, thereby turning the aerospace and defense contractor into a tax-exempt charitable organization. The Howard Hughes Medical Institute sold Hughes Aircraft in 1985 to General Motors for $5.2 billion.