In his will, Cooke made provisions for the sale of the Redskins and some of his other assets to create a foundation to help gifted students with financial need to afford a college education.

The first executive director of the Jack Kent Cooke Foundation was Matthew J. Quinn, serving from 2000 to 2009, when Harvard University psychologist Lawrence Kutner succeeded him.

The Cooke Foundation awards grants to support strategic initiatives to expand educational opportunities for gifted, low-income students.

Grants fall into four broad categories: college access and excellence; academic achievement; artistic advancement; and local support.

[15] In addition to operating its scholarship and grant programs, the Cooke Foundation conducts research on gifted students with financial need.

One of the foundation's studies, issued in early 2016, is called "True Merit: Ensuring Our Brightest Students Have Access to Our Best Colleges and Universities."