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Rise8 Foundation

Annual Giving
$15.0M
Grant Range
$1K - $2.3M

Quick Stats

  • Annual Giving: $15-20 million
  • Success Rate: N/A (invitation-only)
  • Decision Time: At trustee discretion
  • Grant Range: $1,000 - $2.3 million
  • Geographic Focus: Primarily US with some international

Contact Details

  • Website: None
  • Phone: Not publicly available
  • Email: Not publicly available
  • Mailing Address: 119 Fifth Avenue, 8th Floor, New York, NY 10003

Overview

The Rise8 Foundation is a private grantmaking foundation established in 2008 with 501(c)(3) tax-exempt status granted in January 2009. With assets of $342 million and annual giving of approximately $15-20 million, the foundation focuses on education (particularly STEM), healthcare, and humanitarian causes. Founded and operated by husband-and-wife trustees Feroz and Erica Dewan, the foundation has grown dramatically from $58,220 in assets in 2011 to over $342 million in 2024. The foundation operates with deliberate privacy, maintaining no public website and accepting no unsolicited proposals, instead making grants through trustee discretion to preselected organizations.

Funding Priorities

Grant Programs

The foundation operates through trustee-discretion grants only:

  • Major Strategic Grants: $1-2.3 million (for organizations like Khan Academy, Teach For America)
  • Mid-Level Grants: $100,000-$500,000 (for education and healthcare initiatives)
  • Smaller Grants: $1,000-$50,000 (for various charitable causes)
  • Application method: Invitation-only, no public application process

Priority Areas

  • STEM education and education reform
  • Charter schools and alternative education models
  • Medical research and healthcare institutions
  • Children's health and development
  • Humanitarian causes
  • Technology education initiatives

What They Don't Fund

While not explicitly stated, based on their giving patterns, they do not appear to fund:

  • Arts and culture organizations
  • Environmental causes
  • Political advocacy
  • Religious organizations
  • Individual scholarships

Governance and Leadership

Feroz Dewan - Co-Founder and Trustee

  • Princeton University graduate (engineering and mathematics)
  • Former CEO of Arena Holdings Management
  • Former public equity funds manager at Tiger Global Management
  • Former private equity investor at Silver Lake Partners
  • Former consultant at McKinsey & Company

Erica Dewan - Co-Founder and Trustee

  • Former Teach For America staff member
  • Former consultant at McKinsey & Company
  • Started a family-owned real estate investment company

Both trustees serve without compensation and dedicate approximately 2 hours per week to foundation activities.

Application Process & Timeline

How to Apply

This funder does not have a public application process. The foundation explicitly states it "only makes contributions to preselected charitable organizations" and does not accept unsolicited grant proposals. Grants are awarded through trustee discretion based on pre-existing relationships and strategic priorities identified by the trustees.

Getting on Their Radar

Based on documented patterns and trustee backgrounds:

  • McKinsey Alumni Network: Both trustees are former McKinsey consultants; connections through this network have been effective
  • Teach For America Ecosystem: Erica Dewan's background provides strong ties to TFA and education reform organizations
  • Tiger Global/Silver Lake Networks: Feroz's finance background creates connections to Wall Street philanthropic circles
  • Education Reform Conferences: The foundation has shown consistent support for charter school networks and education innovation organizations
  • Princeton University Connections: Feroz's alma mater may provide networking opportunities
  • Organizations that have successfully obtained funding often have board members or executives with connections to the trustees' professional networks

Decision Timeline

Decisions are made at trustee discretion throughout the year with no fixed timeline or review periods.

Success Rates

Not applicable due to invitation-only model.

Reapplication Policy

Not applicable - organizations are identified and invited by trustees.

Application Success Factors

Since this is an invitation-only funder, traditional application success factors don't apply. However, based on their giving patterns:

  • Strong STEM education component: Organizations like Khan Academy and Code.org have received substantial support
  • Proven scale and impact: The foundation favors established organizations with demonstrated results
  • Education reform alignment: Charter schools and innovative education models align with trustee interests
  • Professional network connections: Most successful grantees have traceable connections to the trustees' professional backgrounds
  • Multi-year potential: The foundation provides sustained support to organizations they value (Teach For America has received multiple seven-figure grants)

Key Takeaways for Grant Writers

  • The Rise8 Foundation is not accessible through traditional grant applications - relationship building is essential
  • Focus networking efforts through McKinsey alumni, Teach For America, and education reform communities
  • The foundation has significant capacity ($15-20M annually) but deliberately maintains low visibility
  • Education organizations, particularly those focused on STEM and reform, align best with funding priorities
  • Healthcare institutions with children's programs have successfully obtained funding
  • Board-level introductions are likely necessary to access this funding source
  • Organizations should not spend time on unsolicited proposals as they will not be considered

References

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