The Kovner Foundation

Quick Stats

Annual Giving: $18,413,999 (2023)
Total Assets: $273.5 million
Success Rate: Not applicable (invitation only)
Decision Time: Not applicable (no public application process)
Grant Range: $700 - $2,000,000
Median Grant: $30,000
Geographic Focus: Primarily Florida and New York areas, with international reach
Number of Grants: 85 awards (2023)

Contact Details

Website: https://www.thekovnerfoundation.org

Address: 1001 N US Highway 1 Suite 400, Jupiter, FL 33477

Note: The foundation does not accept unsolicited applications or requests for funding.

Overview

The Kovner Foundation was established in 1986 (incorporated in 1996) by Bruce S. Kovner, founder and former chairman of Caxton Associates, LLC, a global macro hedge fund, and his wife Suzanne (Suzie) Kovner. With total assets of approximately $273.5 million, the foundation distributed $18.4 million in grants in 2023 across 85 awards. The foundation's mission is to support organizations that promote excellence in the arts and education, initiatives that defend private enterprise and protect individual rights, and scholarly studies and research that strengthen American democratic principles. The Kovners received the William E. Simon Prize for Philanthropic Leadership in 2016 and the William F. Buckley Jr. Prize for Leadership in Supporting Liberty in 2017, alongside Honorary Doctorates from Juilliard in 2014.

Funding Priorities

Grant Programs

The foundation operates through four main program areas:

Education: Focuses on expanding competition and choice throughout American educational systems, both public and private institutions. Emphasizes education reform, school choice, and charter schools. Major support includes Success Academy Charter Schools ($4 million in 2019, $2.9 million in 2018), Achievement First, and Uncommon Schools.

Scholarships:

Kovner Fellowship Program at Juilliard: Merit-based scholarships covering full cost of attendance for approximately 52 classical music students (established with $60 million gift in 2013, the largest one-time gift to Juilliard)
Kovner Opportunity Scholarship: Up to $10,000 per year for four years for top 15% of students in Palm Beach County and Martin County, Florida, to attend selective U.S. colleges and universities. Includes professional college counseling through R&R Education Consultants.

Arts: Supports performing arts institutions in the United States and internationally. Major grants include:

Juilliard School (multiple gifts totaling over $100 million: $25 million in 2005, $20 million in 2012 for graduate historical performance program, $60 million in 2013, $5.4 million in 2019)
Metropolitan Opera ($2 million in 2019)
Carnegie Hall ($1.5 million in 2019)
Royal Shakespeare Company (London)
Lucerne Festival (Switzerland)
Israeli Chamber Project
Carnegie Hall: Ensemble Connect
New York Philharmonic
Metropolitan Museum of Art
Brooklyn Academy of Music
National Theatre of Great Britain

Opportunity Society: Promotes economic and social opportunity through research and scholarship emphasizing core American principles. Focus areas include economic growth, education access, criminal justice reform, and improving circumstances for disadvantaged communities. Grantees include:

Institute for Justice ($333,333 in 2019)
Innocence Project
International Rescue Committee
Center for Economic Opportunity
Centurion
Lambda Legal

Priority Areas

K-12 education reform and school choice, particularly charter schools
Closing the achievement gap in education
Excellence in performing arts (music, theater, opera)
Individual liberty and private enterprise
Criminal justice reform and wrongful conviction cases
Scholarships for talented students in arts and academics
Economic opportunity and democratic principles

What They Don't Fund

The foundation does not accept unsolicited applications, indicating a highly selective, proactive approach to grantmaking.

Governance and Leadership

Bruce S. Kovner - President and Co-Chairman

Founder and former Chairman of Caxton Associates (1983-2011)
Current Chairman of CAM Capital (established 2012)
B.A. from Harvard College
Former Chairman of Juilliard School's Board (2001-2022)
Current board member: Lincoln Center for the Performing Arts, Metropolitan Opera, American Enterprise Institute
Residence: Hobe Sound, Florida

Suzanne (Suzie) F. Kovner - Vice President and Co-Chairman

B.A. from Colgate University
Background in television production and Sotheby's Auction House
Vice Chair of Success Academy Charter Schools
Trustee of Carnegie Hall
Board member of American Associates of the National Theater
Sustaining Member of Memorial Sloan-Kettering Cancer Center's Administrative Board
Residence: Hobe Sound, Florida

Philanthropic Philosophy: In a 2011 speech, Bruce Kovner explained his support for the Institute for Justice due to its advocacy for school choice, reflecting the foundation's emphasis on individual liberty and education reform.

Application Process & Timeline

How to Apply

The Kovner Foundation does not have a public application process. The foundation operates on a strictly invitation-only basis and explicitly states that it does not accept unsolicited applications or requests for funding. According to their policy, the foundation "only makes contributions to preselected charitable organizations and does not accept unsolicited requests for funds."

The foundation employs a proactive approach to identifying and supporting organizations aligned with their mission and values.

Decision Timeline

Not applicable - grants are made at the discretion of the foundation's leadership to pre-selected organizations.

Success Rates

Not applicable due to invitation-only model. In 2023, the foundation made 85 grants from assets of $273.5 million.

Reapplication Policy

Not applicable - the foundation does not accept applications.

Application Success Factors

Since the Kovner Foundation operates on an invitation-only basis, traditional application success factors do not apply. However, examining their grantmaking patterns reveals the following insights:

Areas of Excellence: The foundation gravitates toward organizations demonstrating:

Excellence and innovation in their respective fields, particularly in performing arts and education
Alignment with principles of individual liberty, private enterprise, and democratic values
Strong leadership and institutional credibility (evidenced by support for premier institutions like Juilliard, Metropolitan Opera, Carnegie Hall)
Focus on systemic change rather than short-term fixes (charter school networks, education reform organizations)
Commitment to opportunity expansion for disadvantaged populations (Innocence Project, criminal justice reform)

Philosophy Alignment: The foundation's support patterns suggest preference for organizations that:

Champion school choice and education reform
Support free-market principles and economic opportunity
Promote excellence in classical arts and cultural heritage
Work to overturn wrongful convictions and reform criminal justice systems
Strengthen democratic institutions and protect individual rights

Conservative Leanings: Much of the foundation's work in economic development, education, and policy areas reflects conservative principles, though they also support organizations like the Innocence Project that appeal across the political spectrum.

Long-term Partnerships: The foundation demonstrates commitment to sustained support of key organizations (e.g., ongoing support for Success Academy Charter Schools, Juilliard, and major cultural institutions) rather than one-time grants.

Key Takeaways for Grant Writers

No Public Application Process: This foundation does not accept unsolicited requests. Traditional grant applications are not possible.
Proactive Grantmaking Model: The foundation identifies and approaches organizations rather than reviewing applications.
Major Gift Capacity: The foundation has demonstrated capacity for transformational gifts (e.g., $60 million to Juilliard), not just modest grants.
Florida and New York Focus: While the foundation supports international projects, grantmaking primarily concentrates in Florida (where the Kovners reside) and New York (where Bruce Kovner built his career and maintains board positions).
Board Connections Matter: Both Bruce and Suzie Kovner serve on boards of major institutions that receive foundation support, suggesting personal engagement is important.
Three-Pillar Approach: Organizations must align with at least one of the foundation's three core areas: arts and education excellence, individual liberty and private enterprise, or democratic principles and research.
Education Reform Champions: Strong emphasis on charter schools and school choice makes this a priority area, particularly in New York and Florida markets.

References

Instrumentl - Kovner Foundation 990 Report. https://www.instrumentl.com/990-report/kovner-foundation (Accessed December 2024)
Cause IQ - The Kovner Foundation Profile. https://www.causeiq.com/organizations/kovner-foundation,223468030/ (Accessed December 2024)
ProPublica Nonprofit Explorer - Kovner Foundation. https://projects.propublica.org/nonprofits/organizations/223468030 (Accessed December 2024)
Inside Philanthropy - "Arts, Education, Conservative Policy and More. How the Kovners Are Tapping a Hedge Fund Fortune" (February 2023). https://www.insidephilanthropy.com/home/2023-2-9-arts-education-conservative-policy-and-more-how-the-kovners-are-tapping-a-hedge-fund-fortune (Accessed December 2024)
Inside Philanthropy - Kovner Foundation Profile. https://www.insidephilanthropy.com/find-a-grant/grants-k/kovner-foundation (Accessed December 2024)
The Kovner Foundation Official Website. https://www.thekovnerfoundation.org (Accessed December 2024)
The Kovner Foundation - The Kovners. https://www.thekovnerfoundation.org/bruce-kovner-suzie-kovner (Accessed December 2024)
The Kovner Foundation - Kovner Opportunity Scholarship. https://www.thekovnerfoundation.org/kovner-opportunity-scholarship-recipients (Accessed December 2024)
Juilliard School - Kovner Fellowship Program. https://www.juilliard.edu/campus-life/tuition-financial-aid/scholarships-loans-and-grants/kovner-fellowship-program (Accessed December 2024)
InfluenceWatch - Kovner Foundation. https://www.influencewatch.org/non-profit/kovner-foundation/ (Accessed December 2024)
Foundation Directory Online (Candid) - The Kovner Foundation. https://fconline.foundationcenter.org/fdo-grantmaker-profile/?key=KOVN001 (Accessed December 2024)
Grantmakers.io - Kovner Foundation Profile. https://www.grantmakers.io/profiles/v0/223468030-kovner-foundation/ (Accessed December 2024)