Colorado offered Charles Gates, Sr. a place to establish a business and raise his family. In return, family members have given and continue to give to the state through the Gates Family Foundation. The Foundation’s emphasis on advancing excellence, innovation and self-sufficiency in education, and promoting healthy lifestyles originally came from the Gates family's interest in the well-being of company employees. Through the Foundation, the family’s philanthropy expanded into helping Coloradans of every age lead more productive lives. It was Charles C. Gates, Sr., John G. Gates, and Hazel R. Gates, who created the Gates Foundation in 1946 as a formal organization through which their family would make philanthropic investments. In December 1995, the name of the Foundation was changed to the Gates Family Foundation. Since inception through 2016, this private foundation and its affiliated family funds have awarded grants totaling $352.6 million. On December 31, 2016, the Foundation's endowment, including Family Funds, was valued at $422.5 million. The Foundation and its associated family funds will invest more than $19.7 million in grants in 2017.