The Paulson Family Foundation was launched in 2008 with a contribution of $100 million. Today the Foundation has assets valued at over $565 million. On October 23, 2012 The Paulson Family Foundation pledged $100 million to the Central Park Conservancy which is the largest donation ever made to a public park. In 2009 The Foundation gave a gift of $20 million to Paulson’s alma mater, New York University. The Paulson Family Foundation also donated $15 million to build a maternity/children’s hospital in Guayaquil, Ecuador, Paulson’s father’s native country; and another $5 million to the Southampton Hospital which is close to Paulson’s summer home in Long Island. During the Foundation’s first three years about $8 million was distributed, while additional monies were added to the fund by Paulson in 2009 and 2010- $175 million and $91 million respectively.