1974
The Monterey Institute for Research in Astronomy was founded in 1972 as a nonprofit independent professional observatory dedicated to research and education in astronomy. It was formed by six graduates of Case Western Reserve University who, seeing limited professional options, decided to create their own future in astronomy by establishing an independent facility to conduct significant but inexpensive research, with initial funding to come from foundations and individuals.
To that end, in 1974, Research Corporation made a grant of $76,000 to help establish the astronomical observatory.