The Alfred P. Sloan Foundation is a not-for-profit private grantmaking foundation based in New York City. It was founded in 1934 by Alfred P. Sloan Jr, then-president and CEO of General Motors. The Alfred P. Sloan Foundation's mission is to accelerate the advance of human knowledge through the support of original, high quality research in science, technology, and economics; to increase the quality and diversity of higher education in STEM fields, and to promote the public understanding of these topics.