Established in 1999 with a gift from Michael and Susan Dell, the Foundation has

an endowment of more than $1 billion. The foundation funds initiatives and programs that improve the outcomes for children living in urban poverty, with a primary focus on enhancing the quality of public education and children's health. Within its first seven years, the Dell family foundation has committed more than $300 million to global children’s issues and Central Texas community initiatives.

The goal of MSDF is to improve outcomes for children around the world in a measurable way. MSDF seeks to fund organizations and their projects or programs that meet this goal. The Foundation’s aim is to work as a catalyst for enduring, systemic change. Using a collaborative approach, existing programs and organizations are sought that address unmet needs primarily focused on children's health and education. In Central Texas, safety, youth development and early childhood care focus areas are also considered for funding. In addition, the Foundation selectively funds short-term projects that tend to have a positive and immediate effect on children.

The reach and grants of MSDF are expanding across the U.S. in major urban areas and internationally in several large urban slum areas of India. The Foundation is approaching this expansion in a phased approach with the current expansion in the U.S. being mostly limited to New York City, Los Angeles, Chicago, Dallas, Houston and Central Texas. The current international expansion is primarily focused on large urban slum areas in India and in other countries on a limited basis.