The Indian Society of Oriental Art was founded to promote and further the study of Oriental art, literature, and music.

1) Rabindranath Tagore was an influential poet, philosopher, and polymath from Bengal. While he`s notable in art history, specifically for his contribution towards the Bengal School of Art, he was not one of the founders of the Indian Society of Oriental Art.

2) Abanindranath Tagore was indeed one of the co-founders of the Indian Society of Oriental Art. He is noted as a principal artist and creator of `Indian Society of Oriental Art` and the first major exponent of swadeshi values in Indian art.

3) Dwarakanath Tagore was a successful entrepreneur and a great-grandfather to Abanindranath and Rabindranath, but he did not contribute to the foundation of the Indian Society of Oriental Art.

4) Bankim Chandra Chattopadhyaya, a key figure in literary renaissance of Bengal, also did not contribute to the founding of this society although he is renowned as the writer of the Indian national song `Vande Mataram.`

Therefore, the correct answer is Abanindranath Tagore.