The sons of the late Dr. and Mrs. Montfort Jones of Kosciusko, Mississippi, establish the first grantmaking foundation in the South by Southerners, to honor their mother, Sallie Thomas Feild. Still in operation, the Feild Co-Operative Association, originally established in Tennessee, is now based in Jackson, Mississippi.

The Winston-Salem Foundation, the first community foundation in the Southeast (and still in operation), launches with a $1,000 endowment gift from “Colonel” Francis Fries, a banker and railroader, whose wealth was derived primarily from the textile mill that he built on the banks of the New River in Grayson County, Virginia.

Industrialist and philanthropist James B. Duke establishes The Duke Endowment.

Robert W. Woodruff, the chief executive of The Coca-Cola Company, insistent that his generosity remain anonymous, establishes the Trebor (“Robert” spelled backward) Foundation. Only after his death did this multi-billion dollar institution become the Robert W. Woodruff Foundation.

Wealth from the textile industry contributes to growing philanthropy in South Carolina. The Self Foundation (later the Self Family Foundation) and the Springs Close Foundation, both established in 1942, are examples.

The Spartanburg County Foundation, the first community foundation in South Carolina, is established in 1943 by Walter Scott Montgomery and seven key business leaders who saw community philanthropy as a way to address issues in the area.

Knight Foundation formed by John S. and James L. Knight, brothers whose wealth came from newspaper publishing.

Community Foundation for Greater Atlanta founded.

Mary Reynolds Babcock Foundation established in Winston-Salem, North Carolina.

Foundation for the Carolinas (FFTC) established in Charlotte, NC.