Pershing Square Foundation

Quick Stats

Annual Giving: $21,154,319 (2023)
Success Rate: N/A (invitation only for most programs)
Decision Time: Varies by program; 3-4 months for prize programs
Grant Range: $750,000 (research prizes) to multi-million dollar strategic grants
Geographic Focus: New York City (domestic priority), with global work in Africa and Israel
Total Assets: $404 million
Historical Commitment: Over $930 million in grants and social investments since 2006

Contact Details

General Information:

Website: https://pershingsquarephilanthropies.org
Application Portal (Research Prizes Only): https://prizeapplication.smapply.io

Research Prize Contacts:

Cancer Prize: info@psscra.org
MIND Prize: info@mindprize.org

Overview

The Pershing Square Foundation was established in 2006 by billionaire investor Bill Ackman, founder and CEO of Pershing Square Capital. Bill Ackman and his wife, scientist Neri Oxman, serve as co-trustees. With $404 million in assets and over $21 million in annual grantmaking, the foundation operates under the mission: "We bet on innovative leaders solving humanity's big societal, environmental, and health challenges." Since its inception, Pershing Square Philanthropies has committed more than $930 million in grants and social investments across health and life sciences, education, economic development, criminal justice reform, and environmental initiatives. The foundation prioritizes providing risk capital to organizations at pivotal moments, enabling them to grow and attract additional funding from other sources. Ackman is a signatory of The Giving Pledge, committing to give away at least 50% of his wealth to charitable causes.

Funding Priorities

Grant Programs

Medical Research Prizes (Open Application):

Pershing Square Sohn Cancer Prize: $750,000 over three years ($250,000/year) for early-career cancer researchers; minimum six prizes awarded annually; open to scientists at U.S. institutions with 2-6 years running independent laboratories
MIND Prize (Maximizing Innovation in Neuroscience Discovery): $750,000 over three years ($250,000/year) for neurodegenerative disease researchers; minimum six prizes awarded annually; open to scientists at U.S. institutions with 1-8 years of independent research experience
Ovarian Cancer Challenge Grant Initiative: Launched in 2025 with seven grants totaling $5.25 million

Strategic Grants (Invitation Only): The foundation made 59 grants in 2023, suggesting an average grant size of approximately $358,000, though individual awards vary significantly based on strategic priorities.

Priority Areas

Health and Life Sciences:

Cancer research (particularly early-career investigators)
Neurodegenerative diseases (Alzheimer's, dementia focus)
Hospital systems in New York City area
Ovarian cancer research

Education:

Organizations serving underserved and low-income students
Higher education institutions (e.g., Said Business School at Oxford, Schwarzman Scholars Program at Tsinghua University, Vassar College)
K-12 programs (Practice Makes Perfect, Teach for America, Year Up)
College access programs (Cooperman College Scholars, I Have a Dream Foundation)
Teacher development (STIR Education)

Economic Development:

International agricultural development (One Acre Fund, myAgro, Nuru International)
Community economic development
Arab-Israeli women's employment (Tand'if)
Urban development initiatives in Newark and other cities

Arts and Culture:

Arts-related community development initiatives
Jewish cultural institutions (including $25 million fund to Center for Jewish History)

Social Justice:

Racial and criminal justice reform
Organizations supporting immigrant communities
Human rights initiatives

International Development:

Climate-impacted communities in Africa
Small-scale agriculture
Israeli organizations

What They Don't Fund

While specific exclusions aren't publicly documented, the foundation:

Does not accept unsolicited proposals for most grant areas
Only makes contributions to preselected charitable organizations (except for research prizes)
Focuses on organizations where they can achieve significant leverage and measurable outcomes

Governance and Leadership

Co-Trustees:

Bill Ackman: Founder and CEO of Pershing Square Capital Management; established the foundation in 2006; billionaire hedge fund manager known for activist investing; Giving Pledge signatory
Neri Oxman: Scientist, designer, and architect; co-trustee alongside Ackman

Philanthropic Philosophy:

The foundation's approach mirrors Ackman's investment philosophy, focusing on "strategic giving that seeks to create tangible, lasting change, much like his investment philosophy aims for fundamental value creation." According to their mission statement, they "bet on innovative leaders solving humanity's big societal, environmental, and health challenges."

The foundation emphasizes supporting organizations at the right moment, providing entrepreneurs with risk capital and room to grow, enabling them to leverage support from other philanthropies, corporations, or government funders. They back leaders and organizations whose innovations "challenge the status quo and defy conventional categorization."

Application Process & Timeline

How to Apply

For Medical Research Prizes (Public Application Process):

The foundation accepts applications for two competitive research prizes through their online portal at https://prizeapplication.smapply.io.

Pershing Square Sohn Cancer Prize:

Eligibility: PhD, MD, or MD-PhD (or equivalent); 2-6 years running independent laboratory by award start date; affiliated with U.S. research institution
Application Process: Submit Letter of Intent (2 pages, Georgia 11pt font, single-spaced, 0.5" margins) including research project description (scientific background, rationale, aims, research plan) and explanation of innovation and impact
Limitation: May only apply twice total
Timeline: LOI deadline typically in November; notification by mid-February; finalist presentations in March in New York City; award start in July
Award: $250,000/year for 3 years to minimum six recipients annually

MIND Prize:

Eligibility: MD, PhD, or MD-PhD (or equivalent); 1-8 years independent research experience as tenure-track faculty by award start date; U.S. academic research institution
Focus: Neurodegenerative and neurocognitive disorders, particularly Alzheimer's and dementias; projects may include novel tools/techniques/technologies, therapeutic approaches, neurobiology, brain imaging, machine learning, drug delivery, synthetic biology
Application Process: Similar Letter of Intent process
Timeline: LOI deadline typically in September; notification by mid-December; finalist presentations in January in New York City; award start in May
Award: $250,000/year for 3 years to minimum six recipients annually

For All Other Grant Areas (No Public Application Process):

The Pershing Square Foundation does not have a public application process for grants in education, economic development, arts, social justice, or general health initiatives. The foundation makes contributions to preselected charitable organizations and does not accept unsolicited requests for funds. Organizations are identified and invited to apply by the foundation's staff based on strategic priorities and alignment with the foundation's mission.

Decision Timeline

Research Prizes:

Letter of Intent to notification: 3-4 months
Full process (LOI to award): Approximately 6-8 months
Finalists are invited to present in person in New York City

Strategic Grants:

Timeline not publicly disclosed; varies by opportunity and relationship development

Success Rates

Research Prizes:

Minimum six prizes awarded annually for each program
Success rates not publicly disclosed but highly competitive given the prestige and award amounts

Strategic Grants:

59 grants awarded in 2023 from invitation-only pool
Success rates not applicable due to invitation-only model

Reapplication Policy

Research Prizes:

Cancer Prize applicants may only apply a total of two (2) times
MIND Prize reapplication policy not explicitly stated but assumed similar given program structure

Strategic Grants:

Not applicable; invitation-only basis

Application Success Factors

For Research Prize Applicants

Innovation and Paradigm-Shifting Potential: The foundation seeks researchers who "rethink conventional paradigms" and whose work "challenges the status quo and defies conventional categorization." Applications should clearly articulate how the proposed research represents innovative thinking within the specific focus area.

Clear Impact Articulation: The Letter of Intent must explicitly describe "why the project is innovative within the specific research focus area and how the Prize funding will impact your research." Successful applications demonstrate both scientific innovation and practical impact potential.

Early-Career Focus: Both prizes target researchers at pivotal moments in their careers (2-6 years for cancer; 1-8 years for neuroscience). The foundation seeks to provide risk capital when it can have maximum leverage on a researcher's trajectory.

Alignment with Disease Focus:

Cancer Prize: Cutting-edge cancer research with potential for breakthrough discoveries
MIND Prize: Projects with "clear application to and impact on the field of neurodegenerative and neurocognitive disorders, with a lens on Alzheimer's Disease and Dementias" are favored

Recent Award Examples:

2025 Ovarian Cancer Challenge Grant recipients include researchers from NYU Grossman School of Medicine, Weill Cornell Medicine, University of Pennsylvania, Columbia, and Mount Sinai, focusing on pioneering research approaches
MIND Prize recipients work on novel tools, therapeutic approaches, and transformative understanding of the brain

For Strategic Grant Seekers (Invitation-Only)

Mission Alignment: Organizations must align with the foundation's focus on "innovative leaders solving humanity's big societal, environmental, and health challenges." Successful grantees typically work in one of the foundation's core areas: health/life sciences, education, economic development, or social justice.

Demonstrated Innovation: The foundation prioritizes organizations that challenge conventional thinking and "defy conventional categorization." Past grantees include innovative models like Practice Makes Perfect (summer academic programs), myAgro (mobile savings for farmers), and STIR Education (teacher networks).

Leverage Potential: The foundation seeks opportunities where their funding can catalyze additional support from other philanthropies, corporations, or government sources. They describe their approach as providing "risk capital—room to grow and the opportunity to leverage support from other funders."

Geographic Alignment: Strong preference for New York City-based organizations for domestic work, or organizations working in Africa and Israel for international initiatives.

Measurable Outcomes: The foundation focuses resources "on areas where it believes it can achieve significant leverage and measurable outcomes."

Relationship-Building Required: Without a public application process, organizations must be on the foundation's radar through networking, sector visibility, or trustee connections. The foundation identifies organizations through its own research and networks.

Key Takeaways for Grant Writers

Research Prize Applicants Only: Unless you're an early-career cancer or neuroscience researcher, there is no public application process—focus on relationship-building and sector visibility instead
Innovation is Paramount: The foundation seeks "paradigm-shifting" work that "challenges the status quo"; incremental improvements are not the focus
Risk Capital Mindset: Position your organization as being at a pivotal growth moment where foundation funding can unlock additional resources and scale
Geographic Fit Matters: New York City organizations have significant advantage for domestic programs; African and Israeli organizations for international work
Two Application Limit: Cancer Prize applicants can only apply twice ever—make each application count
Strong Mission Alignment Essential: The foundation's focus areas are specific; organizations outside health, education, economic development, and social justice should look elsewhere
Leverage and Scale: Demonstrate how foundation funding will attract additional support and create measurable, lasting change rather than one-time impacts

References

Pershing Square Philanthropies Official Website - Mission and About: https://pershingsquarephilanthropies.org/about/mission (Accessed December 2024)
Inside Philanthropy - Pershing Square Foundation Profile: https://www.insidephilanthropy.com/find-a-grant/grants-p/pershing-square-foundation (Accessed December 2024)
Candid Foundation Directory - The Pershing Square Philanthropies: https://fconline.foundationcenter.org/fdo-grantmaker-profile?key=PERS419 (Accessed December 2024)
Instrumentl - The Pershing Square Foundation 990 Report: https://www.instrumentl.com/990-report/pershing-square-foundation (Accessed December 2024)
Pershing Square Philanthropies - Cancer Research Prize (PSSCRA): https://pershingsquarephilanthropies.org/initiatives/programs/PSSCRA (Accessed December 2024)
Pershing Square Philanthropies - MIND Prize: https://pershingsquarephilanthropies.org/initiatives/programs/mind-prize (Accessed December 2024)
Pershing Square Foundation Prize Application Portal: https://prizeapplication.smapply.io/ (Accessed December 2024)
Business Wire - "The Pershing Square Foundation Announces $2M in Grants to Newark Organizations": https://www.businesswire.com/news/home/20240328201820/en/ (Accessed December 2024)
Philanthropy News Digest - "Pershing Square awards $5.25 million for ovarian cancer initiative": https://philanthropynewsdigest.org/news/pershing-square-awards-5.25-million-for-ovarian-cancer-initiative (Accessed December 2024)
The Giving Pledge - Bill Ackman and Neri Oxman: https://www.givingpledge.org/pledger/bill-ackman-and-neri-oxman/ (Accessed December 2024)
Pershing Square Philanthropies - Application Guidelines: https://pershingsquarephilanthropies.org/initiatives/programs/PSSCRA/page/application-guidelines (Accessed December 2024)
ProPublica Nonprofit Explorer - Pershing Square Foundation: https://projects.propublica.org/nonprofits/organizations/208068401 (Accessed December 2024)
Grantable.co - The Pershing Square Foundation Profile: https://www.grantable.co/search/funders/profile/the-pershing-square-foundation-us-foundation-208068401 (Accessed December 2024)
Business Wire - "2026 Pershing Square Sohn Cancer Prize Now Open to All Institutions in the USA": https://pershingsquarephilanthropies.org/news/2026-pershing-square-sohn-cancer-prize-now-open-to-all-institutions-in-the-usa (Accessed December 2024)