Howard F. Ahmanson, Sr. (1906-1968), founder of the savings and loan company H.F. Ahmanson, established the Ahmanson Foundation in 1952. Upon his death, his estate was divided between his son Howard, Jr. and the Foundation that bears the father's name.

The Foundation's mission, as stated in its articles of incorporation, is "to administer funds for charitable, scientific, educational, literary, and religious purposes, all for the public welfare."

The Ahmanson Foundation's grant-making programs are divided into several categories: (a) Arts and Culture; (b) Disadvantaged (for homeless and low-income people); (c) Education (collegiate and pre-collegiate); (d) Environment; (e) Library (specialized collections); (f) Medicine; and (g) Health Care Services. According to the Foundation, these funds may be used for "awards, construction, disaster relief, endowment, equipment, events, general support, lectures, multi-year support, program development, recruitment, renovation, scholarships, supplies, and training."

Among the Ahmanson Foundation's recent grantees are the following: 100 Black Men of Los Angeles; the Alliance for Children's Rights; the Barrio Action Group; the American Indian College Fund; the American Women's Economic Corporation; the Los Angeles Gay and Lesbian Center; Animal Friends, Inc.; the Bilingual Foundation of the Arts; Inner City Education Foundation; Homeboy Industries; El Centro de Accion Social, Inc.; the Los Angeles Coalition to End Hunger and Homelessness; the Institute for the Study of Ethical Diversity; the Environmental Literacy Council; National Public Radio; Skid Row Housing Trust; the National Center on Addiction and Substance Abuse; Human Options; Human Rights Watch; the Los Angeles Men's Place; the Criminal Justice Legal Foundation; Planned Parenthood; the Urban Institute; World Vision International; the Asian Pacific American Legal Center; the Night Basketball and Books Program; Rainbow Services; Sustainable Conservation; People Assisting the Homeless; the Pacific Council on International Policy; the Multicultural Collaborative; the Screen Actors Guild Foundation; Women at Work; the United Negro College Fund; Women in Recovery; Earthwatch; the Center for Community Change; and the Mexican American Legal Defense & Education Fund.