Tyndale House Foundation was established by Kenneth and Margaret Taylor in 1963—a year after the initial publication of Living Letters, the New Testament Epistles paraphrased by Dr. Taylor. Though the Taylors had a large family (ten children) and lived on a modest income, Dr. Taylor had a strong conviction that the royalties from Living Letters should be given to God because it was His Word. He established Tyndale House Foundation to distribute these royalties. It was the fulfillment of a goal Dr. Taylor had first expressed a decade earlier – to establish a charitable fund that could make grants to support Christian work around the world.
During the second year of its publication, 600,000 copies of Living Letters were distributed by the Billy Graham Association. The royalties on those copies were the first funds paid into the Foundation.
For over 50 years the Foundation has received all royalties from the sales of Living Letters (1962), The Living Bible (1971) and the New Living Translation (1996). In 2001 Ken and Margaret Taylor transferred ownership of Tyndale House Publishers to the Foundation. As a result, dividends from the profitable operations of the publishing company also now flow to the Foundation.
The Foundation uses all these funds to make grants for Christian ministry around the world.