Lee Foundation Charitable foundation established by businessman Lee Kong Chian. The foundation was established in 1952 with an initial capital sum of $3.5 million. Its objectives include the advancement of education, medicine and cultural activities; helping the poor; and assisting victims of fire, flood and famine. When he died in 1967, Lee Kong Chian left half of his shares in the Lee Rubber Company to the foundation. Income earned from these assets continues to finance the Lee Foundation. The Lee Foundation is Singapore’s largest foundation. Over the years, it has contributed to Singapore’s society, education, welfare, research and the arts. Lee Seng Gee was made chairman of the foundation in 1967.