MBK Educational Foundation Inc

Quick Stats

• Annual Giving: $3,637,500 (2023)
• Success Rate: Not publicly available (invitation-only)
• Decision Time: Not applicable (trustee discretion)
• Grant Range: $10,000 - $2,500,000
• Geographic Focus: Primarily New York and Massachusetts

Contact Details

• Phone: 212-706-8557
• Address: 252 7th Ave Apt 5I, New York, NY 10001-7331
• Scholarship Program: mbkscholars.org

Overview

The MBK Educational Foundation Inc. (EIN: 26-2987483) is a private grantmaking foundation established by Michael ByungJu Kim, founding chairman of MBK Partners, South Korea's largest private equity fund. With assets of $7.75 million, the foundation focuses on transformative investments in education and arts/culture through strategic institutional grants. Founded to embody a "pay it forward" philosophy, the foundation has made landmark gifts including $25 million to Haverford College (2024) - the largest in the school's history - and $10 million to The Metropolitan Museum of Art. The foundation operates two distinct programs: large institutional grants to colleges, universities, and cultural institutions in the United States, and the MBK Scholars Program providing full scholarships to Korean students pursuing higher education in South Korea.

Funding Priorities

Grant Programs

• Institutional Development Grants: $100,000 - $2,500,000+ (strategic grants to colleges, universities, and cultural institutions)
• MBK Scholars Program: Full 4-year tuition scholarships for Korean students (separate program with specific application process)

Priority Areas

• Higher education infrastructure and institutional development
• Arts and cultural preservation, particularly Korean art and culture
• Educational access and opportunity
• Museum galleries and cultural facilities
• Academic programs focused on ethical leadership and inquiry

What They Don't Fund

• General operating support for small nonprofits
• Individual grant requests (except through MBK Scholars program for Korean students)
• Programs outside education and arts/culture sectors
• Organizations without established institutional relationships

Governance and Leadership

Founder and Major Donor: Michael ByungJu Kim - Haverford College '85, Harvard MBA, founding chairman of MBK Partners. Serves on boards of Metropolitan Museum of Art, New York Public Library, and Carnegie Hall.

President: Mimi Kim - JD from Fordham Law School, BA from Wellesley College.

Michael Kim describes the foundation's philosophy: "Art works offer beauty to the world, and education has a force to change the world." The foundation emphasizes impact giving with a focus on creating lasting institutional change.

Application Process & Timeline

How to Apply

This funder does not have a public application process. Grants are awarded through trustee discretion based on strategic alignment with the foundation's mission and existing institutional relationships. The foundation identifies beneficiaries through the founder's board service and philanthropic networks.

Getting on Their Radar

The foundation's grants align closely with institutions where Michael Kim has board involvement or alumni connections. Organizations connected to:

• Haverford College network
• Metropolitan Museum of Art, New York Public Library, Carnegie Hall circles
• Korean cultural institutions and arts organizations
• Elite educational institutions in New York and Massachusetts

The foundation has demonstrated interest in naming opportunities and transformative capital projects at major institutions.

Decision Timeline

Not applicable - grants are made at trustee discretion without formal application timelines.

Success Rates

Not applicable - the foundation does not accept unsolicited applications.

Reapplication Policy

Not applicable - invitation-only funding model.

Application Success Factors

Based on the foundation's giving patterns:

• The foundation favors transformative, high-impact projects at established institutions
• Strong preference for educational infrastructure projects that create lasting change
• Interest in projects that preserve and promote Korean art and culture
• Demonstrated track record with naming opportunities (e.g., Michael B. Kim and Kyung Ah Park gallery at The Met)
• Alignment with founder's vision of education as a "force to change the world"
• Projects at institutions where Michael Kim has existing board or alumni relationships

Key Takeaways for Grant Writers

• This is an invitation-only funder making strategic institutional grants through trustee discretion
• Focus areas are highly specific: elite educational institutions and major cultural organizations
• The foundation makes transformative gifts rather than general operating support
• Strong emphasis on Korean cultural preservation alongside American educational institutions
• Relationships and institutional connections are essential - cold applications will not succeed
• Consider connections through Haverford College, Harvard, or major NYC cultural institutions
• The separate MBK Scholars program has a formal application process but is only for Korean students

References

• ProPublica Nonprofit Explorer - MBK Educational Foundation Inc. Accessed March 2024. https://projects.propublica.org/nonprofits/organizations/262987483
• Cause IQ - MBK Educational Foundation Profile. Accessed March 2024. https://www.causeiq.com/organizations/mbk-educational-foundation,262987483/
• "Haverford College Receives Historic $25 Million Gift" - Haverford College Press Release, 2024
• "Metropolitan Museum Announces $10 Million Gift from Michael B. Kim" - Met Museum Press Release
• MBK Scholars Program Official Website. Accessed March 2024. mbkscholars.org
• Various articles from The Korea Herald, Korea Times, and Business Korea regarding MBK Partners philanthropy
• IRS Form 990-PF filings for MBK Educational Foundation Inc., 2021-2023