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Frick left his mansion and magnificent art collection to the city of New York, which remain in the Frick Museum there. He also donated around $50 million dollars to various charitable organizations throughout his lifetime.

In his will Frick left only 1/6 of his fortune to his family. The other 5/6 was distributed to charitable institutions located in New York, Pittsburgh, and the West Overton- Connellsville Coke region. He left $6 million dollars to Princeton University, large sums to Harvard University, and the Massachusetts Institute of Technology. He also gave $1.5 million to the City of New York Lying-In Hospital (now the obstetrics and gynecology division of the New York Hospital-Cornell Medical Center). The public received his home and art collection worth some $15 million. In Pittsburgh, he left a park encompassing 151 acres, endowed with a $2 million trust. Frick also made generous donations to hospitals all over the Pittsburgh region.

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