In addition to his business skills, Hancock was an accomplished cellist, an avid sailor (licensed to captain any sailing vessel), and aviator. He formed the Hancock Ensemble, later associated with his Hancock Foundation at USC (dedicated to oceanographic research), and captained many of the Foundation's early scientific expeditions, including those to the Galapagos Islands. In 1928 he opened the Hancock College of Aeronautics in Santa Maria, California.
In 1934, as a result of an early Foundation expedition, Hancock became involved in a tabloid sensation concerning Germans living in a "Garden of Eden" nudist colony on Galapagos. There were several mysterious murders in the colony, and Hancock was said to have "rescued" the companion of one of the victims.
Hancock also served on the University of Southern California's Board of Regents, and in 1937 was granted an honorary doctoral degree in Business Administration by the University. Very soon thereafter Hancock initiated plans to construct a building on the USC campus for the Hancock Foundation. The Allan Hancock Foundation continued the work begun by USC's Venice Marine Station and Professor Albert Ulrey. In turn, it was ultimately superceded in the 1990's by the Catalina Station.
In 1939 Hancock funded the construction of a new building for the Foundation that was dedicated in 1941. With the dedication of the new Foundation building, Hancock also donated his yacht, the Velero III, to USC for oceanographic studies. In 1948 a new ship, the Velero IV, was commissioned exclusively for the use of the Foundation; it remained in service until the mid-1980's.
Hancock died on 1 June 1965. The Foundation, Museum, and Library he established continued to function in their original forms for three more decades until they were absorbed into other USC operations. [Adapted from the Finding aid to the Allan Hancock Foundation Archive, https://archives.usc.edu/repositories/3/resources/260]