This was profiled on NPR's "Fresh Air with Terry Gross" a couple of days ago. According to the interviewee, this organization was behind the institution of "National Prayer Breakfast" in 1953.

I'm not convinced it's a 'bad' thing. Not all conspiracies are evil, and these folks are for the most part well meaning. Their policy, according to the Fresh Air show, was less low key in the 50's, but has changed.