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Avanessians Foundation

Annual Giving
$2.4M
Grant Range
$100K - $4.6M

Quick Stats

  • Annual Giving: $2,437,736 (2024)
  • Success Rate: Not applicable (no public application process)
  • Decision Time: Not applicable (invitation/trustee discretion only)
  • Grant Range: $100,000 - $4,600,881
  • Geographic Focus: National (US), with emphasis on New York and higher education

Contact Details

Address: PO Box 73, New York City, NY 10274-0073
Phone: 212-902-8711
EIN: 26-6671956

No website or public email available. This foundation does not accept unsolicited applications.

Overview

The Avanessians Foundation was established in 2009 as a private family foundation based in New York. With total assets of $64 million (2024) and annual charitable disbursements of approximately $2.4 million, the foundation focuses primarily on higher education with some support for human services, including Armenian organizations. The foundation is led by trustee Armen A.A. Avanessians, a Columbia University trustee and former global head of Goldman Sachs Asset Management's quantitative businesses who retired in 2022. The foundation operates as a non-operating private foundation with no full-time employees and makes grants at the discretion of its trustees. Notably, the foundation utilizes donor-advised funds as part of its grantmaking strategy, having made a substantial $4.6 million grant to Goldman Sachs Gives in 2023.

Funding Priorities

Grant Programs

The foundation does not have formal grant programs or public application cycles. All grants are made at trustee discretion.

Recent grant activity (2023):

  • Goldman Sachs Gives (donor-advised fund): $4,600,881
  • NYC First: $350,000
  • Connecticut Public Broadcasting: $100,000
  • One additional unspecified grant

Priority Areas

  • Higher Education: Primary focus, particularly Columbia University
  • Human Services: Secondary focus
  • Armenian Organizations: Some support for Armenian community initiatives
  • Data Science and Engineering: Interest in innovation and research in these fields
  • Diversity Initiatives: Support for diversity enhancement in education

What They Don't Fund

The foundation operates as a private family foundation focused on specific interests aligned with the trustee's background and connections. It does not appear to fund outside its established priority areas or accept unsolicited proposals.

Governance and Leadership

The foundation is led by Armen A.A. Avanessians, who serves as trustee. Armen earned a BSEE from MIT in 1982 and an MS from Columbia University in 1983. He served as the global head of Goldman Sachs Asset Management's quantitative, rules-based, and indexing businesses until retiring in spring 2022.

Leadership Roles:

  • Trustee of Columbia University (chairs its Audit Committee)
  • Co-chair of the Columbia University Data and Society Council
  • Board member for Columbia Engineering and Applied Physics and Applied Mathematics

Philanthropic Legacy: Beyond the foundation, Armen has personally made substantial gifts to Columbia University, including a $10 million gift for the Avanessians Doctoral Fellowships for Engineering Thought Leaders and Innovators in Data Science. He also established the Alexander and Hermine Avanessians Professorship in Industrial Engineering and Operations Research in memory of his parents, and created the Janette and Armen Avanessians Diversity Award in 2006.

No compensation is paid to trustees or officers.

Application Process & Timeline

How to Apply

This foundation does not have a public application process. All grants are made at the discretion of the trustee based on existing relationships and strategic priorities. The foundation does not accept unsolicited applications or proposals.

Grant decisions are made internally without a formal review process, timeline, or notification system for external applicants.

Application Success Factors

Given that this is a trustee-directed foundation without a public application process, the following factors appear to influence grantmaking:

Connection to Leadership's Interests:

  • Strong preference for higher education, particularly Columbia University where the trustee serves on the board
  • Interest in data science, engineering, and quantitative fields aligned with Armen Avanessians's professional background
  • Support for diversity initiatives in education
  • Some interest in Armenian community organizations

Grantmaking Strategy:

  • Uses donor-advised funds (Goldman Sachs Gives) for a significant portion of giving, which may allow for distributed grantmaking to multiple smaller organizations
  • Makes relatively few direct grants per year (4 grants in 2023)
  • Grant sizes vary significantly from $100,000 to over $4.6 million

Strategic Philanthropy:

  • Grants appear to align with the trustee's personal connections and areas of expertise
  • Focus on innovation and thought leadership in technical fields
  • Long-term commitment to institutions (ongoing support to Columbia University)

Key Takeaways for Grant Writers

  • No public application process: This foundation operates entirely through trustee discretion and does not accept unsolicited proposals
  • Relationship-driven grantmaking: All grants appear to flow from existing relationships with the trustee, particularly through Columbia University connections
  • Higher education focus: Primary interest in supporting educational institutions, particularly in engineering, data science, and related fields
  • Uses donor-advised funds: The large grant to Goldman Sachs Gives suggests the foundation channels significant resources through DAFs for distribution
  • Limited annual grants: Makes only a handful of direct grants per year, indicating highly selective giving
  • Professional background matters: Trustee's background in quantitative finance and asset management influences funding priorities toward technical and analytical fields
  • Not suitable for cold outreach: Organizations without existing connections to the trustee or Columbia University are unlikely to receive funding

References

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