The story
The AIP was founded in 1931 as a response to lack of funding for the sciences during the Great Depression. The AIP was founded in 1931 at a joint meeting between four physics societies: the American Physical Society, the Optical Society of America, the Acoustical Society of America, and the Society of Rheology. These were soon joined by the American Association of Physics Teachers, for a total of five societies. It formally incorporated in 1932 consisting of five original "member societies", and a total of four thousand members. As soon as the AIP was established it began publishing scientific journals. By 1943, the AIP published eight journals: Physical Review, Reviews of Modern Physics, Journal of the Optical Society of America, Journal of the Acoustical Society of America, American Journal of Physics, Review of Scientific Instruments, Journal of Applied Physics, and Journal of Chemical Physics.
A new set of member societies was added beginning in the mid-1960s.
The organization restructured in 2013, creating a new subsidiary, AIP Publishing LLC, to manage physical publications of its journals with a smaller board.
From Wikipedia’s article on American Institute of Physics, shared under CC BY-SA 4.0.4