The Prospect Hill Foundation strives to "advance the human experience while ensuring the well-being of the earth" through their support of national organizations as well as groups specific to New York, New Jersey, Rhode Island and Massachusetts. Their generosity supports conservation strategies that protect local ecosystems and ensure high air quality for human and ecological populations.

The Prospect Hill Foundation is a private foundation established in New York in 1960 by Elizabeth G. Beinecke and William S. Beinecke, then president and now the retired chairman of the Sperry and Hutchinson Company. In 1983, the Prospect Hill Foundation merged with the Frederick W. Beinecke Fund, which had been established by the will of William S. Beinecke's father and was later augmented by the will of Carrie Sperry Beinecke, his mother.