Our Story
The Albert M. Greenfield Foundation began with an innovative man’s outlook. Our history spans many eras, people, and places throughout politics, business, and a family legacy.
The Greenfield Legacy
Mr. Greenfield’s original ideals have been continuously reaffirmed and updated for contemporary relevance by succeeding generations of the Foundation’s trustees.
Albert M. Greenfield was a prominent figure in Philadelphia, serving on the boards of various civic and philanthropic organizations at both the local and national levels. He was deeply engaged in city politics and in the 1960s, significantly contributed to the major redevelopment of the historic Society Hill area, home to Independence Hall.
Greenfield remained politically active throughout his life, maintaining close connections with U.S. Presidents from Herbert Hoover to Lyndon B. Johnson.
A Leader in Philadelphia
Bankers Trust Company, his venture into commercial banking, closed in 1930, a victim of the Great Depression. Previously, he formed Bankers Securities Corporation as a holding company for his rapidly growing business empire. Undeterred by his failure in the banking business, he persistently rebuilt his wealth, buying property at bargain prices.
Bankers Securities grew to include retailers such as Lit Brothers, Bonwit Teller, and Tiffany with 112 stores in 19 states. He also controlled the Philadelphia Yellow Cab Company and six major Philadelphia hotels.
With his businesses taking in almost a billion dollars a year, Albert M. Greenfield, became one of the most influential leaders of his time.
Establishing a Foundation
Despite his wealth, Albert M. Greenfield believed true success was only found in public service, saying, “A man can be considered successful only when he makes a worthwhile contribution to his generation and to his fellow citizens.”
In 1953, to give something back to the city that had given him so much, he established The Albert M. Greenfield Foundation. He passed away in 1967 at the age of 79, leaving behind a legacy of service, community, and philanthropic generosity.
