From http://www.brook.edu/lib/history_hp.htm:
The Brookings Institution traces its beginnings to 1916, when a group of leading reformers founded the Institute for Government Research (IGR), the first private organization devoted to analyzing public policy issues at the national level
In 1922 and 1924, one of IGR's backers, Robert Somers Brookings (1850-1932), established two supporting sister organizations: the Institute of Economics and a graduate school bearing his name
In 1927, the three groups merged to form the Brookings Institution, honoring the businessman from St. Louis whose leadership shaped the earlier organizations.