The foundation was created in 2007 with the proceeds of Anne Moen Bullitt’s estate by her Executor, Robert M. Pennoyer. In accordance with her instructions, the foundation is named for her father William C. Bullitt. 

A prominent diplomat in the 20th Century, Bullitt was appointed by FDR in 1933 to serve as the first Ambassador to the Soviet Union. He served in this post until 1936 when he was appointed Ambassador to France where he remained until the Nazi invasion. He was also a journalist and prolific writer who wrote extensively about the dangers of communism and fascism.