Clark established The Clark Foundation in 1931, to support Bassett Hospital and other Cooperstown charitable institutions. The foundation currently funds local museums, libraries, community organizations and village services, supports the summer Glimmerglass Opera Festival, and provides college scholarships for area students. It also operates the Clark Sports Center in Cooperstown, a vast athletic facility that is also used by the Baseball Hall of Fame for its annual induction ceremonies. In New York City, it supports education, community organizations and cultural institutions. As of 2013, The Clark Foundation's assets were in excess of $600,000,000.