Commonwealth Fund, foundation established (1918) by Anna M. Harkness, wife of Stephen V. Harkness, an early Standard Oil investor, "for the welfare of mankind." Its headquarters are in New York City. In 1998 its assets were estimated at over $536 million, and it dispensed nearly $23 million. Contributing in its first 20 years to the early development of child guidance clinics and the strengthening of rural hospitals and health departments, in later years it has emphasized health care services, especially for minorities, and the advancement of the well-being of elderly people and children. It also has an international program in health care policy.