The Milken Family Foundation is a philanthropic organization dedicated to advancing education and medical research. Established in 1982 by Lowell Milken and Michael Milken, the foundation focuses on initiatives that recognize and reward outstanding educators, promote innovative educational practices, and support groundbreaking medical research. The foundation makes money through investments and donations, which are then allocated to various programs and grants. Key initiatives include the Milken Educator Awards and the Milken Scholars Program, both of which aim to foster excellence and leadership in education.