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Chesed Foundation of America

Annual Giving
$18.2M

Chesed Foundation of America

Quick Stats

  • Annual Giving: $18.2 million (FY 2025)
  • Success Rate: Not applicable (invitation only)
  • Decision Time: Not applicable (preselected organizations)
  • Grant Range: Not publicly disclosed
  • Geographic Focus: Primarily Brooklyn and New York City
  • Total Assets: $250 million

Contact Details

Address: 140 Broadway, Suite 3930, New York, NY 10005 Phone: 212-936-5100 Website: Not available Email: Not publicly available

Important: This foundation does not accept unsolicited applications.

Overview

The Chesed Foundation of America is a private independent foundation established in 1998 and led by George Karfunkel (President) and his wife Renee Karfunkel (Vice President). With assets exceeding $250 million built primarily through donations of AmTrust Financial Services shares, the foundation distributed $18.2 million in charitable grants in fiscal year 2025. The foundation operates with a focused philanthropic mission supporting Orthodox Jewish education and religious institutions, particularly those connected to the Belz Hasidic sect and other Haredi Jewish communities. The foundation's revenue is derived almost entirely from investment returns (81.6% from dividends), and it distributes nearly all operational funds (99.8% of expenses) to charitable purposes annually. All officers serve without compensation, reflecting a commitment to maximizing charitable impact.

Funding Priorities

Grant Programs

The foundation does not operate formal grant programs with published guidelines. All grants are made to preselected charitable organizations chosen at the discretion of the trustees.

Priority Areas

  • Elementary and Secondary Education: Primary focus on Orthodox Jewish yeshivas
  • Religious Institutions: Operating expenses for synagogues, particularly those affiliated with Haredi Judaism and the Belz Hasidic sect
  • Educational Scholarships: Support for students attending Orthodox Jewish educational institutions
  • Assistance to the Needy: Financial support for individuals and families within the Orthodox Jewish community

Geographic Focus: Brooklyn and New York City, with particular emphasis on Orthodox Jewish communities

What They Don't Fund

The foundation does not fund organizations outside its preselected network. Based on its documented giving patterns, it does not support:

  • Secular educational institutions
  • Organizations outside the Orthodox Jewish community
  • General social services unconnected to Jewish religious communities
  • Arts, culture, or environmental causes
  • International programs (except those supporting Israeli institutions through affiliated organizations)

Governance and Leadership

President: George Karfunkel - American businessman and co-founder of AmTrust Financial Services (born 1948/1949). The Karfunkel brothers grew up in Brooklyn and built their wealth through insurance and financial services.

Vice President: Renee (Rene) Karfunkel - George's wife and co-philanthropist. The couple has demonstrated a long-term commitment to Orthodox Jewish education, including a notable 2020 donation of 3 million Kodak shares to Congregation Chemdas Yisroel.

Trustee: Bernard Karfunkel

Vice President: Henry Reinhold

All officers serve without compensation, ensuring maximum funds are directed to charitable purposes.

Philanthropic Philosophy: The Karfunkel family's foundations "give almost exclusively to yeshivas and synagogues connected to Haredi Judaism, many of which are affiliated with the Belz Hasidic sect." Their approach reflects a deeply rooted commitment to preserving and strengthening Orthodox Jewish education and religious life in New York City.

Application Process & Timeline

How to Apply

This foundation does not have a public application process.

The Chesed Foundation of America explicitly states that it "only makes contributions to preselected charitable organizations and does not accept unsolicited requests for funds." Organizations cannot apply for funding unless they have been specifically identified and invited by the foundation's trustees.

How Grants Are Awarded: Grants are made at the discretion of the foundation's trustees, primarily George and Renee Karfunkel, to organizations within their existing network of Orthodox Jewish educational and religious institutions. Historical giving patterns indicate that much funding goes to institutions with which the family has established relationships, including those affiliated with the Belz Hasidic community.

Decision Timeline

Not applicable - grants are made to preselected organizations based on trustee discretion rather than an application cycle.

Success Rates

Not applicable - the foundation does not accept unsolicited applications.

Reapplication Policy

Not applicable - no public application process exists.

Application Success Factors

Since this foundation operates exclusively with preselected organizations, there is no application process for organizations outside their existing network. The foundation's giving is directed by trustee discretion based on:

  • Established Relationships: Historical giving patterns suggest the foundation supports organizations with which the Karfunkel family has long-standing connections
  • Alignment with Haredi Judaism: Strong preference for institutions affiliated with Orthodox and particularly Haredi Jewish communities
  • Connection to Belz Hasidic Sect: Many beneficiary organizations are affiliated with or connected to the Belz Hasidic movement
  • Educational Mission: Priority given to yeshivas and schools providing Orthodox Jewish education
  • Brooklyn/NYC Location: Geographic focus on institutions serving Orthodox Jewish communities in Brooklyn and New York City

Note for Grant Seekers: Organizations outside the foundation's existing network of Orthodox Jewish institutions should not expect to receive funding from this foundation. The trustees' approach to philanthropy is relationship-based and focused on a specific religious community rather than responsive to external applications.

Key Takeaways for Grant Writers

  • No Public Access: This foundation does not accept unsolicited applications or proposals from organizations outside its preselected network
  • Highly Targeted Giving: Nearly all funding goes to Orthodox Jewish yeshivas and synagogues, particularly those affiliated with Haredi Judaism and the Belz Hasidic sect
  • Relationship-Driven: Grants are made based on the trustees' existing relationships and knowledge of organizations within the Orthodox Jewish community
  • Significant Resources: With $250 million in assets and $18.2 million in annual giving, this is a substantial foundation, but access is limited to preselected organizations
  • Family Foundation: Operated by the Karfunkel family with all officers serving without compensation, reflecting a personal philanthropic mission
  • Brooklyn Focus: Geographic concentration on Brooklyn and New York City Orthodox Jewish communities
  • Not Suitable for Most Grant Seekers: Unless your organization is an Orthodox Jewish educational or religious institution with existing connections to the Karfunkel family network, this foundation is not an appropriate target for fundraising efforts

References

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