The Conrad N. Hilton Foundation is an American non-profitcharitablefoundation, established in 1944 by hotel entrepreneur Conrad Hilton. It remained relatively small until his death on January 3, 1979, when it was named the principal beneficiary of his estate. In 2007, Conrad's son, Barron Hilton announced that he would leave about 97% of his fortune[2] to a charitable remainder unitrust which names the foundation as the remainder beneficiary.[2][3]
Financial information
The foundation's assets, as of September 2019, were approximately $2.9 billion and had increased to $6.3 billion due to Barron Hilton's passing.[4] Since inception, the foundation has awarded more than $1.7 billion in grants. Currently more than 50% supports international charitable projects.[5] According to the OECD, the foundation's financing for 2019 development decreased by 11% to US$42.3 million.[6]
Program areas
The foundation's mission is derived from the last will and testament of Conrad Hilton that directs the organization to "relieve the suffering, the distressed, and the destitute."[7] The foundation invests in seven program areas: Catholic sisters, disaster relief and recovery, foster youth, homelessness, hospitality workforce development, safe water, and young children affected by HIV and AIDS. The foundation also supports organizations in four transitioning program areas: avoidable blindness, Catholic education, multiple sclerosis and substance use prevention.[8]
Catholic Sisters
The Hilton Foundation Catholic Sisters program is focused on recognizing Catholic sisters as leaders in the human development field by supporting organizations and congregations in the United States and Africa.
Disaster Relief and Recovery
The Disaster Relief and Recovery program supports communities to prepare for disasters and provide long-lasting solution towards long-term recovery.
The foundation partners with organizations in Los Angeles County to build permanent supportive housing for individuals experiencing chronic homelessness.
Hospitality Workforce Development
This program area works with organizations in New Orleans to provide pathways for young people towards a career in the hospitality industry.
In 2018, the Hilton Foundation announced it would transition out of four program areas (Avoidable Blindness, Catholic Education, Multiple Sclerosis, and Substance Use Prevention) over two to five years. The foundation committed to "leave the field with minimal disruption" and "capture knowledge from our time in these areas to propel future innovations and solutions."[9]
Conrad N. Hilton Humanitarian Prize
The Conrad N. Hilton Humanitarian Prize is awarded annually by the foundation. It was inaugurated in 1996 and is the largest humanitarian award in the world. Its annual award of USD1.5 million was increased in 2015 to 2 million to commemorate its 20th Hilton Humanitarian Prize laureate, Landesa.[10]
Conrad Hilton's granddaughter, Hawley Hilton McAuliffe, became chair of the board January 2021, superseding Steven M. Hilton, who was the chairman of the organization for most of its existence. He started working at the foundation in 1983 and served as its CEO from 2005 to 2015.[19] Hilton retired as president and CEO, and was succeeded by Peter Laugharn.[20][21] In his retirement announcement, Hilton said, “When I joined the Hilton Foundation in 1983, I couldn’t imagine the path that lay ahead. At that time, a handful of staff guided about $6 million in grants annually. Fast forward to today, and we have grown to a staff of over 50 and have awarded over a billion dollars in grants to improve the lives of disadvantaged and vulnerable people around the world.”[22] Peter Laugharn began his tenure as president and CEO on January 1, 2016.[23]
