Asness Family Foundation

Quick Stats

• Annual Giving: $6,645,000 (2024)
• Success Rate: N/A (invitation only)
• Decision Time: N/A (trustee discretion)
• Grant Range: $1,000 - $1,000,000+
• Geographic Focus: National (US-focused)

Contact Details

• Phone: (631) 414-4000
• Address: C/O Marcum LLP, 10 Melville Park Rd, Melville, NY 11747
• Note: Foundation does not accept unsolicited requests

Overview

Founded in 2017, the Asness Family Foundation is a private grant-making foundation with approximately $25 million in assets and annual giving of $6-9 million. Established by hedge fund manager Clifford S. Asness (co-founder of AQR Capital Management with $142 billion AUM), the foundation reflects his commitment to education, classical liberal values, and humanitarian causes. The foundation operates on an invitation-only basis, making 50-60 grants annually to preselected organizations. Clifford Asness, whose net worth is estimated at $2.9 billion, serves as the sole trustee and makes funding decisions jointly with his wife Laurel. The foundation has distributed over $80 million in grants since 2018, demonstrating a strategic approach to philanthropy that balances ideological giving with humanitarian support.

Funding Priorities

Grant Programs

The foundation makes discretionary grants through trustee selection only:

• Major institutional support: $1,000,000+ (universities, think tanks)
• Program support: $10,000 - $500,000 (policy organizations, humanitarian groups)
• General support: $1,000 - $50,000 (community organizations)

Priority Areas

• Education: Universities, educational reform organizations, academic freedom initiatives
• Think Tanks & Policy Research: Organizations promoting classical liberal/libertarian values, free markets, and free speech
• Humanitarian Services: International relief organizations, particularly the International Rescue Committee
• Human Services: Community organizations, United Way chapters
• Healthcare: Hospital systems (more limited support)
• Environment: Conservation organizations (modest support)

What They Don't Fund

• Unsolicited requests
• Organizations outside their preselected network
• Programs conflicting with libertarian economic principles
• Organizations restricting free speech or academic freedom

Governance and Leadership

Trustee: Clifford S. Asness (sole trustee, serves without compensation)

• Co-founder of AQR Capital Management (1998)
• University of Chicago Booth School of Business alumnus (MBA '91, PhD '94)
• Board member, International Rescue Committee (since 2009)
• Former trustee, Manhattan Institute
• Self-described "part-time Republican and full-time libertarian"

Co-decision maker: Laurel Asness (joint philanthropic partner)

Clifford Asness has stated his philanthropic approach reflects his belief in evidence-based solutions and supporting organizations that promote individual liberty and economic freedom.

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 requests for funds." Grants are awarded through trustee discretion based on existing relationships and strategic priorities.

Getting on Their Radar

Based on the foundation's giving patterns, organizations gain consideration through:

• Board connections: Organizations where Clifford Asness serves (IRC) or has served (Manhattan Institute) receive significant support
• Academic affiliations: Universities where the Asnesses studied or have professional connections (University of Chicago, London Business School)
• Professional networks: Relationships through AQR Capital Management and the finance industry
• Ideological communities: Participation in classical liberal/libertarian policy networks (connections to FIRE, Heterodox Academy, Cato Institute)
• Proven impact: The foundation has supported IRC for 20+ years, demonstrating preference for long-term partnerships with effective organizations

Decision Timeline

Not applicable - grants made at trustee discretion

Success Rates

Not applicable - invitation only

Reapplication Policy

Not applicable - no public application process

Application Success Factors

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

• Ideological alignment matters: Organizations receiving support consistently align with classical liberal values, free market principles, or nonpartisan humanitarian work
• Long-term relationships preferred: IRC partnership spans 20+ years; Manhattan Institute relationship ongoing
• Academic excellence valued: Major gifts to top-tier universities ($15M to London Business School, $60M to UChicago Booth)
• Evidence-based approaches: Reflects Asness's quantitative investment background
• Capacity building focus: Preference for endowed professorships and institutional support over program grants
• Strategic impact: Large gifts ($1M+) for transformational initiatives rather than many small grants

Key Takeaways for Grant Writers

• No public application process - This foundation only funds preselected organizations
• Relationship-driven philanthropy - All funding flows through personal connections, board service, or institutional affiliations
• Significant capacity - With $6-9M annual giving and willingness to make $1M+ grants, they are a major funder for selected organizations
• Dual philanthropic identity - Successfully balances ideological giving (think tanks) with humanitarian support (IRC)
• Long-term partnership model - Prefers sustained relationships over one-time grants
• Strategic rather than responsive - Makes 50-60 carefully selected grants annually rather than responding to community needs
• Values-based giving - Clear commitment to classical liberalism, free markets, and academic freedom guides funding decisions

References

• ProPublica Nonprofit Explorer - Form 990-PF filings for Asness Family Foundation (EIN: 814745940), accessed February 2025
• Charity Navigator profile for Asness Family Foundation, accessed February 2025
• Inside Philanthropy donor profile on Clifford and Laurel Asness, accessed February 2025
• Instrumentl Foundation Directory - Asness Family Foundation 990 reports, accessed February 2025
• Cause IQ database entry for Asness Family Foundation, accessed February 2025
• Tax Exempt World - Asness Family Foundation filing data, accessed February 2025
• Washington University in St. Louis advancement office - donor spotlight on $3M Asness gift for endowed professorship
• AQR Capital Management official biography of Clifford S. Asness
• International Rescue Committee board member listing and donor recognition
• Forbes billionaire profile - Clifford Asness net worth estimate, October 2025