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Carmel Hill Fund

Annual Giving
$10.6M
Grant Range
$5K - $2.5M

Carmel Hill Fund

Quick Stats

  • Annual Giving: Up to $15 million (approximately $10.6M in 2023)
  • Total Assets: $401 million (2023)
  • Grant Range: $5,000 - $2.5 million
  • Median Grant: $775,000
  • Geographic Focus: New York City (with education program extending to Denver, CO and Monroe, LA)
  • Application Method: Relationship-based, no formal application process

Contact Details

Overview

The Carmel Hill Fund (CHF) was established in 1986 by William "Bill" Ruane, a respected New York investment banker who co-founded Ruane, Cunniff and Goldfarb, a Wall Street firm known for its Sequoia Fund mutual fund and alignment with Warren Buffett's investing philosophy. Ruane's philanthropic journey began with revitalizing a block on 118th Street in Harlem that had been affected by drug abuse and property neglect, partnering with the Children's Aid Society and establishing reading programs for local children.

Since Ruane's passing in 2005, the foundation has grown substantially, from approximately $191 million in assets in 2011 to over $400 million today. The Fund invests up to $15 million annually in organizations and initiatives committed to improving youth literacy and mental health and wellbeing in New York City. Their mission focuses on helping young people, especially those growing up in communities facing systemic barriers, become voracious readers who also have the skills, relationships, nurturing environments, and supports to become emotionally thriving adults. The foundation also operates the Carmel Hill Fund Education Program, which reaches over 50,000 students in 125 schools across New York City, Denver, and Monroe, Louisiana.

Funding Priorities

Grant Programs

Youth Literacy Grantmaking ($7+ million annually)

  • Programs that increase reading proficiency rates
  • Initiatives helping young people develop motivation, confidence, and identity as readers
  • Efforts to provide access to culturally relevant and identity-affirming reading materials
  • Support for educators and reading engagement programs

Youth Mental Health Grantmaking ($7 million annually)

  • Supportive mental health and wellbeing programming in schools, clinics, and community spaces
  • Workforce development and social-emotional learning programs
  • Clinical and preventive mental health services
  • Efforts to ensure cost is never a barrier to access

Recent Grant Recipients:

  • Save the Children - $2.5M (2022)
  • Literacy Inc NYC - $2.3M (2022)
  • Food Bank of New York City - $1.0M (2022)
  • Fountain House - $1.0M (2022)
  • Let's Grow Kids - $1.0M (2022)
  • ExpandED Schools (NYC Reads Initiative partner)
  • Children's Aid Society
  • University Settlement

Priority Areas

  • Youth literacy development (K-12)
  • Youth mental health and wellbeing
  • Social-emotional learning
  • Educator support and professional development
  • Access to culturally relevant reading materials
  • Community-based mental health services
  • Family engagement in literacy

What They Don't Fund

  • Organizations outside New York City (for general grantmaking)
  • Programs not focused on youth literacy or mental health
  • Projects without demonstrated commitment to their values of collaboration, transparency, and shared learning

Governance and Leadership

Trustees

  • Bob Goldfarb - Trustee (former business partner of founder Bill Ruane)
  • Dan Mosley - Trustee
  • Sophie Barrett - Trustee
  • Paige Ruane - Senior Advisor

Staff Leadership

  • Itai Dinour - Executive Director (joined February 2023, previously at Einhorn Collaborative)
  • Kate Garroway - Chief Operating Officer (previously Managing Director at BDO Nonprofit & Grantmaker Advisory)
  • Hazel Guzman, Ph.D., IMH-E - Program Officer, Youth Mental Health
  • Tarilyn Little - Program Officer, Youth Literacy
  • Elizabeth Donohue - Senior Grants Manager
  • Cassandre Celestin-Michel - Operations Manager

Leadership Perspectives

Executive Director Itai Dinour on their approach: "Collaboration isn't easy. The initiative bridges school-based partners that work with teachers to provide academic supports to students who need it, community-based providers that focus on access to quality texts and reading engagement, and parent-focused providers that empower families as advocates and educators for their children."

Senior Grants Manager Elizabeth Donohue on the founder's legacy: "I'm inspired by our Founder's rich legacy of curiosity and humility that motivated his philanthropy."

Application Process & Timeline

How to Apply

The Carmel Hill Fund deliberately avoids traditional grant cycles and has no formal RFP process or strict deadlines. Their approach is relationship-based rather than transactional.

To Initiate Contact:

  1. Email grants@carmelhill.net for an exploratory conversation
  2. Alternatively, contact the relevant Program Officer directly:

Eligibility Requirements: Organizations must demonstrate:

  • Deep commitment to supporting youth literacy and/or mental health outcomes for young people in NYC
  • A spirit of collaboration and interest in building a relationship
  • Future-forward thinking with a focus on sustainability
  • Transparency and readiness for ongoing reflection, learning, and improvement
  • Alignment with the Fund's values
  • Strong integrity and communication

What Grantees Can Expect

  • Streamlined due diligence process
  • Openness to emerging organizations
  • Risk-tolerant, innovation-friendly funding
  • Support beyond monetary investment
  • Co-created, low-burden reporting approaches
  • Engaged partnership with personally invested leadership

Decision Timeline

There is no formal grant cycle or deadline. As a relationship-based grantmaker, the Fund is always open to discussing new potential opportunities. Timeline depends on the relationship-building process and due diligence.

Success Rates

With approximately 12 grants awarded in 2023 totaling $10.6 million, and a median grant of $775,000, the Fund takes a high-engagement, lower-volume approach to grantmaking, focusing on substantial multi-year partnerships rather than numerous smaller grants.

Reapplication Policy

Given the relationship-based approach, existing grantee partners are encouraged to maintain ongoing dialogue about continued funding and new opportunities.

Application Success Factors

What the Carmel Hill Fund Looks For

Based on their documented priorities:

  • Organizations that view literacy holistically: proficiency skills, reading motivation, and access to culturally affirming materials
  • Mental health programs that address both preventive and clinical needs
  • Partners who embrace collaboration across sectors (schools, community organizations, families)
  • Evidence of sustainable, future-forward thinking
  • Commitment to serving young people facing systemic barriers in NYC

From grantee testimonials, successful partners demonstrate:

  • Expertise in their issue area with a genuine commitment to outcomes
  • Willingness to engage in shared learning and reflection
  • Openness to co-creating solutions with the funder
  • Focus on youth voice and empowerment

Recent Funded Projects

  • NYC Reads Initiative across South Jamaica, East New York, and East Harlem (literacy)
  • YVote youth mental health advocacy and policy work
  • Accelerated Reader programs in schools
  • Community-based reading engagement programs
  • Mental health workforce development initiatives

Language and Approach They Value

  • "Voracious readers" - their preferred terminology for literacy outcomes
  • "Thriving" - key mental health outcome language
  • "Co-creation" and "collaboration" - central to their partnership philosophy
  • "Relationship-based" - describes their grantmaking approach
  • "Low-burden" - their approach to reporting requirements

Grantee Testimonials

Casper Lassiter, Children's Aid Dunlevy Milbank Campus: "For more than a decade, Carmel Hill Fund has been a fantastic partner, offering much-needed funding that supports young people with basic literacy skills through fun and approachable activities. Their newest efforts to improve literacy and mental health programs across the city have had a profound effect on countless young people, fostering a lifelong love of reading and providing skills and opportunities for brighter futures."

University Settlement: "Carmel Hill Fund has been a deeply thoughtful and engaged partner. Their leadership is personally invested in our success, and always seeks to develop a more nuanced understanding of the issues we're working on so they can support us most effectively. It's a partnership that goes beyond the surface – we're given a seat at the table so that we can be involved in conversations within philanthropy as a sector about how to best address this crisis for youth."

Barbara DiGangi, YVote, University Settlement: "Carmel Hill Fund has been an incredible ally in helping YVote uplift youth voices and advance citywide mental health and policy solutions through the NYC Youth Agenda. Their trust in our leadership—backed by generous support—has allowed us to dream big, act boldly, and create meaningful platforms for young people to lead."

Key Takeaways for Grant Writers

  1. Relationship-first approach: There is no formal application. Success begins with an exploratory conversation at grants@carmelhill.net. Focus on building a relationship before expecting funding.

  2. NYC geographic requirement: Grantmaking is exclusively focused on New York City youth (the Education Program operates in additional locations but general grantmaking is NYC-focused).

  3. Two clear focus areas only: They fund youth literacy and youth mental health/wellbeing. Projects must clearly align with one or both of these priorities.

  4. High-value, low-volume grants: With a median grant of $775,000 and grants ranging up to $2.5 million, they seek substantial, transformative partnerships rather than numerous small grants.

  5. Collaboration is essential: They explicitly value partners who embrace multi-sector collaboration (schools, community, families) and are willing to work with other grantees and stakeholders.

  6. Low-burden partnership: They co-create reporting approaches and remove unnecessary barriers, so emphasize your flexibility and openness to collaborative learning.

  7. Youth voice matters: Recent grants have supported youth-led initiatives and platforms for young people to lead. Demonstrating meaningful youth involvement strengthens applications.

  8. Values alignment is critical: They assess fit based on shared commitment to transparency, reflection, learning, and improvement - not just program outcomes.

References

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