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Goldman Sachs Foundation

Annual Giving
$55.2M
Grant Range
$25K - $0.3M
Decision Time
3mo
Success Rate
6%

Quick Stats

  • Annual Giving: $55.2 million (2022)
  • Total Assets: $648 million
  • Average Grant Size: $477,713
  • Grant Range: $25,000 - $250,000+ (varies by program)
  • Geographic Focus: Global (10,000 Women), National US (10,000 Small Businesses), Local (NYC, NJ, UT for Community Development)
  • Application Method: Invitation only for Foundation grants; specific programs have open applications

Contact Details

Goldman Sachs Foundation

Overview

The Goldman Sachs Foundation is a New York-based private foundation founded in 1999, the same year Goldman Sachs went public, with an initial $200 million asset base. Now holding approximately $648 million in assets, the Foundation distributed $55.2 million in grants in 2022. Between 2008 and 2013, it gave away approximately $1.6 billion. The Foundation serves as the philanthropic arm of Goldman Sachs, focusing on local economic growth and opportunity through investing in entrepreneurship globally, particularly in education and health. The Foundation's principal philanthropic initiatives are 10,000 Women and 10,000 Small Businesses, both of which aim to foster economic development by providing business education, access to capital, and support services to underserved entrepreneurs worldwide.

Funding Priorities

Grant Programs

10,000 Small Businesses

  • Amount: 100% funded by Foundation - free to participants
  • Description: Provides small business owners with business education, mentoring, networking, and access to capital
  • Requirements: Business must be operating 2+ years, minimum $150,000 revenue, 4+ employees
  • Partners: Community colleges, universities, and community development organizations
  • Impact: Over 17,000 graduates across all 50 states, Washington D.C., and Puerto Rico
  • Application: Open application through regional partner institutions

10,000 Women

  • Amount: Initial $100 million commitment; program expanded to $600 million through IFC partnership
  • Description: Business and management education, mentoring, networking, and access to capital for underserved women entrepreneurs globally
  • Partners: Business schools and universities in US, Europe, and developing economies
  • Impact: Over 320,000 women entrepreneurs supported since 2008
  • Application: Through partner institutions internationally

One Million Black Women Initiative

  • Amount: $10 billion investment capital + $100 million philanthropic capital
  • Black Women Impact Grants: $50,000-$250,000 over two years (general operating funding)
  • Description: Multi-year program addressing economic opportunity gaps for Black women
  • Requirements: US-based 501(c)(3), focus on serving Black women and girls, Black women in leadership
  • Focus Areas: Healthcare, education, housing, digital connectivity, financial health, access to capital, job creation
  • Application: Annual grant cycles (check website for open periods)

Community Development Grants Program

Change Makers Initiative

  • Amount: Up to $200,000 (one-time general operating grants)
  • Geographic Scope: New York, New Jersey, or Utah
  • Focus: Affordable housing, small business growth, neighborhood revitalization, community services in LMI communities
  • Application: Annual deadline (typically July)

Equity Builders Initiative

  • Amount: 3-year unrestricted general operating grants
  • Application: Periodically opens; currently closed

Traditional Program Grants

  • Amount: $25,000-$150,000
  • Description: Competitive program-related grants for community development

Goldman Sachs Gives (Donor-Advised Fund)

  • Total Giving: $224 million in ~8,100 grants (FY 2024)
  • Description: Senior employees recommend grants to qualifying nonprofits
  • Impact: $2.7 billion disbursed to 10,000+ nonprofits in 140 countries
  • Application: Does not accept unsolicited applications; grants recommended by Goldman Sachs employees

Analyst Impact Fund

  • Amount: $250,000 (winner), share of $225,000 (runners-up), $25,000 (fan favorite)
  • Description: Annual competition where analysts pitch nonprofits for funding
  • Impact: $5.5 million to 168 nonprofits globally over 10 years
  • Application: Internal Goldman Sachs program (analysts pitch on behalf of nonprofits)

Priority Areas

  • Economic Opportunity and Mobility: Small business development, entrepreneurship training, access to capital
  • Women's Economic Empowerment: Business education and capital access for women entrepreneurs globally
  • Racial and Gender Equity: Addressing opportunity gaps for Black women and underserved communities
  • Community Development: Affordable housing, neighborhood revitalization, essential services in low- to moderate-income communities
  • Education: Business and management education, particularly for entrepreneurs
  • Small Business Growth: Job creation, business support services, technical assistance

What They Don't Fund

The Goldman Sachs Philanthropy Fund specifically excludes:

  • Grants benefiting specific individuals (memberships, tickets, tuition, benefit dinners)
  • Charitable auction purchases
  • Direct personal benefits

For Community Development grants, organizations must:

  • Be 501(c)(3) tax-exempt
  • Have clear community development focus on LMI areas
  • Be headquartered/operating in eligible geographies (varies by program)

Governance and Leadership

Current Leadership:

  • John F. W. Rogers: Chair of the Foundation; EVP & Secretary to the Board and Global Head Corporate Engagement at Goldman Sachs
  • Asahi Pompey: President of the Goldman Sachs Foundation and Goldman Sachs Gives (appointed 2019); Global Head of Corporate Engagement

Historical Leadership:

  • John Whitehead: Founding chairman (1999-2015)
  • Stephanie Bell-Rose: Initial president (through January 2010)
  • Dina Habib Powell: President (2010-January 2017)

President Asahi Pompey's Vision:

On investing in women: "In fact, there's nothing but opportunity. There's a $1.5 trillion credit gap for women-owned small and medium enterprises. Women create jobs, stabilize economies, and strengthen overall society."

On 10,000 Women: "Think about it as an MBA, free of charge, by Goldman Sachs, to women entrepreneurs in developing countries. A woman owning a business is tipping the scale in so many ways more broadly across communities, and it has a multigenerational impact."

On the pandemic response: "You can either see it as one of the most challenging periods or a period that presented an unprecedented opportunity for us to get focused on community impact — not with words, but with deeds."

On her approach: "Coming from the background I come from, I take a different eye to our social impact work. I'm sometimes an unusual voice in the room."

Application Process & Timeline

How to Apply

Important Note: The Goldman Sachs Foundation itself does not accept unsolicited applications. Grants are made by invitation only or through Goldman Sachs employee recommendations (Goldman Sachs Gives).

However, several Foundation-funded programs DO accept applications:

10,000 Small Businesses

  • Method: Apply through regional partner institutions (community colleges, universities)
  • Website: https://10ksbapply.com/
  • Process: Online application through local program sites
  • Eligibility Check: Verify your business meets criteria (2+ years operation, $150,000+ revenue, 4+ employees)

One Million Black Women - Black Women Impact Grants

  • Method: Annual application cycles
  • Website: Check Goldman Sachs community impact website for open grant periods
  • Process: Online application when cycles are open
  • Note: Received over 800 applicants for 50 grants in 2022 cycle

Community Development Grants

  • Method: Online application portal
  • Deadline: Typically mid-July (e.g., July 18, 2025 at 11:59 PM EST)
  • Email: gs-cd-grants@gs.com for questions
  • Eligibility: Must serve NYC, Hudson/Essex Counties NJ, or Salt Lake City UT

Goldman Sachs Gives and Analyst Impact Fund

  • Not open to public applications: These are internal Goldman Sachs employee-driven programs

Decision Timeline

Community Development Grants

  • Application Deadline: July (typically mid-month)
  • Award Decisions: Finalized in Q3
  • Notification: Awardees notified ahead of public announcement

10,000 Small Businesses

  • Rolling Admissions: Many programs accept applications on rolling basis
  • Cohort-Based: Programs run in cohorts throughout the year at different locations

One Million Black Women

  • Annual Cycles: Grant opportunities open yearly
  • Timeline: Varies by year; check website for updates

Success Rates

One Million Black Women (2022 cycle)

  • Applications: Over 800
  • Awards: 50 organizations
  • Success Rate: ~6.25%

10,000 Small Businesses

  • Impact: 70% of participants report increased revenues within 6 months
  • Job Creation: About 50% create net new jobs within 6 months of graduation
  • Total Graduates: Over 17,000 across all 50 states

Community Development Champions

  • Awards: 30 organizations selected annually for Change Makers
  • Grant Amounts: Recent examples include $150,000 (2022) and $100,000 (2023) to single recipients

Reapplication Policy

One Million Black Women: Grant opportunities occur yearly; organizations can apply in subsequent cycles.

Community Development Grants: Annual opportunities suggest organizations can reapply, though specific restrictions not publicly documented.

10,000 Small Businesses: Once businesses complete the program, they join an alumni network but typically wouldn't reapply for the same educational program.

Application Success Factors

For Community Development Grants:

  1. Geographic Alignment is Critical: Organizations must be headquartered or operating in eligible areas (NYC boroughs, Hudson/Essex Counties NJ, or Salt Lake/Summit/Tooele Counties UT). This is a hard requirement.

  2. Focus on LMI Communities: Clear documentation of how your work serves low- and moderate-income households and communities is essential.

  3. Measurable Impact: Foundation emphasizes "impact" and "deeds not words" - provide concrete data on outcomes and community benefit.

  4. General Operating Support Available: Both Change Makers and Equity Builders provide unrestricted funding, so organizations should articulate how flexible funding will strengthen their community development work.

  5. Four Priority Areas: Align proposals with affordable housing, small business development, neighborhood revitalization, or community services.

For 10,000 Small Businesses:

  1. Growth Readiness: Program seeks businesses "poised to grow and create jobs" - demonstrate your growth trajectory and job creation potential.

  2. Community Impact: Show how business growth will benefit your community economically.

  3. Time Commitment: Be prepared to engage in intensive multi-week business education program.

  4. Proven Track Record: Two-year minimum operation and $150,000+ revenue requirements ensure businesses have established viability.

For One Million Black Women:

  1. Leadership Matters: Black women must be in positions of organizational and/or programmatic leadership - this is non-negotiable.

  2. Focus on Black Women and Girls: Mission must clearly center on serving Black women and girls.

  3. Align with Seven Impact Areas: Connect your work to healthcare, education, housing, digital connectivity, financial health, access to capital, or job creation/workforce advancement.

  4. Listening Sessions Insight: Foundation conducted 50 listening sessions with 20,000 Black women to shape this program - understanding that unrestricted, multi-year funding addresses persistent challenges facing nonprofit leaders.

  5. Innovative and Transformative Solutions: Applications evaluated on ability to "deliver innovative and transformative solutions to narrow opportunity gaps."

General Success Factors:

President Asahi Pompey emphasizes:

  • Multigenerational Impact: Demonstrate how your work creates lasting, generational change
  • Economic Stabilization: Show how your work stabilizes communities economically
  • Opportunity Focus: Frame proposals around creating opportunity, not just addressing deficits

Goldman Sachs Foundation's strategic focus has refined over time to target "local economic growth and opportunity through investing in entrepreneurship globally." Proposals should connect to this economic development lens, even when addressing social issues.

Key Takeaways for Grant Writers

  1. Know Your Entry Point: The Goldman Sachs Foundation itself doesn't accept unsolicited proposals, but multiple Foundation-funded programs do. Identify which specific program matches your organization or constituents.

  2. Economic Development Lens is Essential: Whether working in housing, education, or services, frame your work through the lens of economic opportunity and mobility. The Foundation's theory of change centers on entrepreneurship and job creation as drivers of community development.

  3. Geographic Restrictions are Strictly Enforced: For Community Development grants, you must serve specific counties in NY, NJ, or UT. Don't apply if you're outside these areas, but do check if 10,000 Small Businesses or other programs operate in your region.

  4. General Operating Support Available: The Foundation offers unrestricted funding through Change Makers and Equity Builders - a significant opportunity for organizational sustainability and flexibility.

  5. Leadership Priorities Matter: President Asahi Pompey brings a strong focus on women's economic empowerment, racial equity, and multigenerational impact. Proposals addressing these intersections may resonate strongly.

  6. Impact Measurement is Critical: With average grant sizes of $477,713, the Foundation invests significantly and expects measurable returns. Be prepared to demonstrate concrete outcomes, particularly around job creation, revenue growth, and community economic impact.

  7. Partner Institution Pathway: If you serve small businesses or women entrepreneurs, explore partnerships with organizations in the 10,000 Small Businesses or 10,000 Women networks rather than seeking direct Foundation grants.

References

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