The Andrew W. Mellon Foundation, a not-for-profit corporation under the laws of the State of New York, was formed on June 30, 1969, through the consolidation of two existing foundations — the Avalon Foundation and the Old Dominion Foundation. The Avalon Foundation had been established in 1940 by Ailsa Mellon Bruce, daughter of Andrew W. Mellon. The Old Dominion Foundation had been established in 1941 by Paul Mellon, son of Andrew W. Mellon. When the two foundations were consolidated, the Foundation adopted the name The Andrew W. Mellon Foundation to honor their father.