Avanessians Foundation

The Avanessians Foundation operates as a classic high-net-worth individual private foundation with a preselected-only grantmaking model. Founded by Armen Avanessians — retired Global Head of Goldman Sachs Asset Management — the foundation channels the vast majority of its $2.4M+ annual giving through Goldman Sachs Gives, a donor-advised fund that has distributed over $2.7 billion globally since inception. This structure allows Avanessians to leverage Goldman Sachs' philanthropic infrastructure for due diligence, grant administration, and global reach while maintaining advisory control over recipient selection. The foundation does not accept unsolicited applications, meaning all grants flow through personal relationships and board-level decisions. Avanessians serves on boards at MIT, Columbia University, the New York Academy of Sciences, the National Museum of Mathematics, and FIRST Robotics — and these institutional relationships directly drive grant allocation. The foundation's giving reflects Avanessians' deep conviction that science education is foundational, from grade school through university, and his Armenian heritage informs support for scientific research and cultural preservation in Armenia.

The Avanessians Foundation has $64M in assets (2024) with total giving of approximately $2.4M annually. The foundation's giving is highly concentrated: in 2024, a single grant of $2,425,081 went to Goldman Sachs Gives, which then redistributes to end recipients. Over the 2022-2024 period, the foundation awarded approximately $10.1M across just 7 grants. The top recipients reveal clear patterns: Goldman Sachs Gives received over $10M (serving as the primary intermediary), NYC First Inc received $350,000 (reflecting Avanessians' FIRST Robotics board membership), the National Museum of Mathematics received $115,000 (reflecting his MoMath board role), and Connecticut Public Broadcasting received $100,000. Revenue comes entirely from investment returns — $1.6M in dividends, $3.7M in asset sales, and $118K in interest (2024) — with zero contributions received, indicating the endowment is self-sustaining. The foundation operates with minimal overhead: Armen Avanessians is the sole trustee, devoting approximately 1 hour per week with zero compensation, and charitable disbursements represent 91.2% of total expenses.

The Avanessians Foundation sits in the mid-tier of individual-donor private foundations at $64M in assets but operates more like a personal giving vehicle than a programmatic funder. Unlike the Simons or Kavli foundations — which employ staff, run competitive programs, and publish annual reports — Avanessians uses Goldman Sachs Gives as its operational backbone. The $2.4M annual distribution is modest relative to its asset base (3.7% payout), just above the IRS minimum 5% distribution requirement when accounting for investment expenses. The foundation's use of a DAF intermediary is increasingly common among finance-sector philanthropists but makes it harder for potential recipients to track actual end-beneficiaries.

In fiscal year 2024, the Avanessians Foundation reported total assets of $64 million — up from $60.5M in 2023 — reflecting continued investment growth despite $2.4M in charitable disbursements. The sole 2024 grant of $2,425,081 went to Goldman Sachs Gives, continuing the established pattern of channeling giving through this DAF intermediary. The foundation's revenue of $5.7M came entirely from investment returns (dividends, asset sales, interest) with zero new contributions, confirming the endowment is self-sustaining. Armen Avanessians continues to serve on the boards of MIT (Term Member 2023-2028), the New York Academy of Sciences, FIRST Robotics, and the National Museum of Mathematics. In recent public statements, Avanessians has emphasized his focus on science education as a methodology — teaching observation, model-building, and hypothesis testing — rather than just subject matter. The foundation's website (avanessians.org) is currently non-functional, displaying a service provider error page, which is consistent with the preselected-only model that does not require a public-facing web presence.

The Avanessians Foundation is explicitly preselected-only and does not accept unsolicited grant applications. However, organizations seeking support can pursue several indirect strategies: (1) Engage through Goldman Sachs Gives — Since the foundation channels nearly all giving through this DAF, organizations already in the Goldman Sachs Gives ecosystem may receive directed grants from Avanessians' advisory account. Building relationships with Goldman Sachs community engagement teams can create visibility. (2) Leverage board connections — Avanessians serves on boards at MIT, Columbia, NYAS, FIRST Robotics, and MoMath. Organizations connected to these institutions or their networks are natural candidates for support. (3) Align with science education — Avanessians' most passionate cause is science education at all levels, particularly programs that teach scientific methodology (observation, modeling, hypothesis testing) rather than rote learning. STEM programs serving underrepresented students are especially aligned. (4) Armenian causes — The foundation supports Armenian cultural and scientific organizations, particularly through the Fund for Armenian Relief and ANSEF grants for scientific research in Armenia. (5) Demonstrate impact — As a former quantitative investment strategist at Goldman Sachs, Avanessians values data-driven approaches. Organizations that can demonstrate measurable educational outcomes are more likely to attract attention through mutual networks.