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Closehaul Capital Charitable

Annual Giving
$7.5M

Closehaul Capital Charitable - Funder Overview

Quick Stats

  • Founded: 2023
  • Annual Giving: $7,500,000 (2023)
  • Total Assets: $47,200,765 (2024)
  • Grant Range: Varies by donor (average $500,000)
  • Number of Grants (2023): 15 awards
  • Geographic Focus: National (primary focus: Puerto Rico, North Carolina, Colorado, Arizona, Florida, New York, Texas, Washington)
  • Organization Type: Donor-Advised Fund Sponsor / Public Charity

Contact Details

Address: 66 W Flagler St, Suite 900, Miami, FL 33130

Phone: (727) 273-7505 or (305) 330-1459

Website: closehaulcharitable.org

EIN: 92-1123945

Primary Contact: Michael Diyanni (associated with parent company Closehaul Capital LLC)

Overview

Closehaul Capital Charitable is a donor-advised fund sponsor established in June 2023 in Miami, Florida. Operating as a 501(c)(3) public charity (NTEE Code: T31 - Community Foundations), the organization has experienced rapid growth, expanding from $20.1 million in assets in 2023 to $47.2 million in 2024. In its first full year of operation (2023), Closehaul Capital Charitable distributed $7.5 million across 15 grants, with an average grant size of $500,000.

The organization serves as the charitable arm of Closehaul Capital LLC, a financial services firm with over $250 million in assets. Closehaul Capital Charitable focuses on providing innovative tools and superior services to high-net-worth individuals seeking to make impactful and sustainable charitable gifts. The foundation offers customized plans for donating complex assets, grant strategies, and dedicated support to help clients craft lasting philanthropic legacies through donor-advised funds.

Funding Priorities

Organizational Model

Closehaul Capital Charitable operates as a donor-advised fund (DAF) sponsor, not a traditional grant-making foundation. This means individual donors establish charitable funds within the organization and recommend grants to qualifying 501(c)(3) nonprofits. The foundation does not accept unsolicited grant applications from nonprofits.

Program Focus Areas

Based on 2023 IRS Form 990 filings, grants have been awarded in the following areas:

  • Philanthropy, Voluntarism & Grantmaking - Supporting the philanthropic infrastructure
  • Community Improvement & Capacity Building - Building endowments for nonprofit ongoing operations
  • Environment - Conservation and environmental protection initiatives

Geographic Priorities

While the organization supports both local and national philanthropic organizations, primary geographic areas of giving in 2023 included:

  • Puerto Rico
  • North Carolina
  • Colorado
  • Arizona
  • Florida
  • New York
  • Texas
  • Washington

Known Grant Recipients (2023)

Sample organizations that received grants include:

  • Bat World Sanctuary
  • The Coral Nursery of Puerto Rico
  • Puerto Rico Blockchain Trade Association Corporation

Grant Characteristics

  • Average Grant Size: $500,000 (2023)
  • Total Distributed: $7,500,000 (2023)
  • Number of Awards: 15 (2023)
  • Focus: Building endowments and supporting ongoing nonprofit operations

Governance and Leadership

President/CEO: Ronald Navas

  • Compensation: $37,600 (2024 fiscal year)
  • Previous compensation: $20,000 (2023 fiscal year)

Affiliated Organization: Closehaul Capital LLC (parent financial services firm)

Staff: The organization reported no full-time employees in 2022 filings, operating with lean administrative structure typical of newer DAF sponsors.

Application Process & Timeline

How to Apply

Important: Closehaul Capital Charitable does not have a public grant application process.

As a donor-advised fund sponsor, Closehaul Capital Charitable operates differently from traditional foundations:

  1. No Direct Applications: Nonprofits cannot apply directly to Closehaul Capital Charitable for funding
  2. Donor-Directed Model: Individual donors who have established funds with the organization recommend grants to qualifying 501(c)(3) nonprofits
  3. Grant Process: Once a donor recommends a grant, Closehaul processes the grant agreement, conducts due diligence to ensure the recipient is a qualified 501(c)(3), and facilitates electronic transfer of funds

For Donors (Not Grant Seekers)

The organization offers the following services to donors:

  • Donor-advised fund establishment and management
  • Charitable gift financing strategies
  • Complex asset donation assistance (appreciated securities, real estate, etc.)
  • Customized charitable planning
  • Estate planning integration
  • Trust administration network
  • Charitable planning workbooks and resources

Donors receive immediate tax deductions for contributions, and funds can be invested for potential growth before being granted to nonprofits.

Application Success Factors

Understanding the Donor-Advised Fund Model

For nonprofits seeking funding from Closehaul Capital Charitable donors:

Relationship Building is Key: Since grants are donor-directed rather than foundation-directed, success depends on cultivating relationships with individual donors who have established funds. The high average grant size ($500,000) suggests the organization works with high-net-worth philanthropists.

Alignment with Donor Interests: Research the giving history and known interests of individual donors rather than the sponsoring organization's priorities. While Closehaul's 2023 grants show emphasis on environment, community capacity building, and endowment creation, individual donor interests will vary.

Endowment Focus: The organization specifically mentions "building endowments for ongoing operations" as a program area. Organizations seeking endowment support may find receptive donors within the Closehaul community.

Geographic Connections: With significant activity in Puerto Rico, North Carolina, and Colorado, nonprofits in these regions or with programs serving these areas may have better success connecting with Closehaul donors.

Professional Presentation: Given the affiliation with a sophisticated financial services firm, donors using Closehaul likely expect professional, detailed proposals with clear financial planning and sustainability strategies.

Complex Asset Expertise: The organization specializes in helping donors give complex assets (real estate, closely-held business interests, cryptocurrency, etc.). Nonprofits equipped to accept such gifts may have an advantage.

Key Takeaways for Grant Writers

  • Not a Traditional Funder: Closehaul Capital Charitable is a donor-advised fund sponsor, not a foundation that reviews and awards grants through a competitive process
  • Donor Cultivation Essential: Success requires identifying and building relationships with individual donors who have funds at Closehaul, not applying to the organization itself
  • High-Dollar Giving: With an average grant of $500,000, this organization serves high-net-worth philanthropists capable of substantial gifts
  • Endowment Building Focus: Organizations seeking endowment support for long-term sustainability align well with stated priorities
  • Rapid Growth: The foundation doubled its assets in its first two years, indicating strong donor interest and potential for increased grantmaking
  • Geographic Concentration: While national in scope, significant giving has occurred in Puerto Rico, North Carolina, and Colorado
  • New Organization: Founded in 2023, limited track record is available, but the organization has demonstrated significant grantmaking capacity ($7.5M in year one)

References

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