Dune Road Foundation Inc.

## How to Approach the Dune Road Foundation

The Dune Road Foundation is a relatively new private foundation (established 2022) that operates with minimal public transparency. Its website is a "Launching Soon" placeholder with only a contact form, and it does not publish grantmaking guidelines, program descriptions, or application procedures. This makes approaching the foundation a relationship-driven exercise rather than a process-driven one.

Key characteristics that shape the approach:

1. No public application process: The foundation has no published RFP, guidelines, or application portal. All grantmaking appears to occur through private channels, likely driven by the donor(s) and their advisors at Schulte Roth & Zabel LLP.

2. Legal/advisory intermediary: The foundation is administered in care of Susan C. Frunzi, a partner at Schulte Roth & Zabel LLP who specializes in estate planning and charitable giving for high-net-worth individuals. This suggests the foundation is a donor-advised vehicle where grantmaking decisions flow through professional advisors.

3. General purpose grants: All documented grants are classified as "general purpose," indicating the foundation prefers unrestricted support rather than project-specific funding. This is a strong signal that the donor values organizational missions broadly rather than micromanaging program outcomes.

4. High-value, low-volume grantmaking: With only 19 grants totaling $8.7 million in FY2024, the foundation makes relatively few but significant grants. Average grant size is approximately $460,000, suggesting the foundation prefers meaningful commitments to established organizations.

Recommended approach: Given the lack of public process, the most viable pathway is through professional networks connected to the foundation's legal advisors, existing grantees, or the donor's personal philanthropic interests. Organizations with strong New York City ties, major institutional reputations, and humanitarian or educational missions appear best positioned.

## Funding Patterns

The Dune Road Foundation has grown rapidly since its 2022 establishment, with dramatic financial expansion in its most recent fiscal year.

Financial trajectory: - FY2022: Foundation established, initial filings - FY2023: $31.7 million in revenue, initial grantmaking - FY2024: $124.3 million in revenue (459.9% increase), $8.7 million in grants, $132.2 million in total assets

Grant distribution (FY2024): - Total grants made: $8,730,566 - Number of grants: 19 - Average grant: ~$459,503 - Largest documented grant: $1,025,000 (New York University)

Top documented grants:

Sector patterns based on known recipients: - Higher Education: NYU grant ($1.025M) suggests strong interest in academic institutions - Humanitarian Aid: Doctors Without Borders ($1M) indicates international humanitarian concerns - Social Services/Food Security: God's Love We Deliver ($700K) — a NYC-based organization providing medically tailored meals to people living with serious illness

Payout rate: At $8.7M in grants on $132.2M in assets, the foundation's payout rate is approximately 6.6%, well above the required 5% minimum for private foundations. This generous payout rate, combined with the $104.6M in new contributions received in FY2024, suggests the donor is actively capitalizing and deploying the foundation.

Geographic pattern: Known recipients are all based in or significantly operating from New York City, suggesting a strong NYC orientation, though Doctors Without Borders indicates comfort with international impact.

## Peer Comparison

The Dune Road Foundation occupies an unusual position in the New York private foundation landscape: a very young foundation (est. 2022) with rapidly growing assets ($132M) that has already reached the scale of well-established peers.

Distinguishing characteristics:

1. Rapid capitalization: Receiving $104.6M in contributions in a single year is extraordinary, placing Dune Road among the fastest-growing new foundations in New York. Most peer foundations accumulated assets gradually over decades.

2. High average grant size: At ~$460K per grant, Dune Road's average grant is significantly higher than most peers in the $100-150M asset range, which typically average $50K-$150K per grant. This suggests a concentrated grantmaking strategy focused on fewer, larger bets.

3. Zero employees: Unlike similarly sized foundations that typically employ 2-5 staff, Dune Road operates with zero employees, relying entirely on external advisors (Schulte Roth & Zabel). This is common for donor-directed family foundations but unusual at this asset level.

4. No NTEE specialization: While most peer foundations develop identifiable program areas, Dune Road classifies all grants as "general purpose" under the broad T20 (Private Foundations) NTEE code, suggesting the foundation follows donor interests rather than a structured programmatic strategy.

5. Minimal public presence: Among foundations over $100M in assets, Dune Road is unusually opaque — no public website content, no published guidelines, no media coverage, and no Charity Navigator rating. This suggests a deliberate preference for privacy.

## Recent Activity (2024-2026)

Dramatic financial growth (FY2024): The most significant recent development was the massive influx of $104.6 million in new contributions to the foundation during fiscal year 2024, representing a 459.9% increase in revenue. This brought total assets from approximately $50 million to $132.2 million, vaulting the foundation into the top 1% of U.S. nonprofits by assets (ranking approximately 23,548 out of 2.66 million nonprofits).

Expanded grantmaking: Total grants increased from approximately $7.8 million in FY2023 to $8.7 million in FY2024 (23.3% increase in expenses), with 19 documented grants. While the grant volume grew modestly, the foundation's asset base grew far more dramatically, suggesting the foundation may significantly increase grantmaking in coming years to maintain its payout rate.

Notable FY2024 grants: The foundation made several large grants including $1.025M to New York University, $1M to Doctors Without Borders USA, and $700K to God's Love We Deliver. These grants span higher education, international humanitarian aid, and NYC-based social services.

Website status: As of early 2026, the foundation's website (duneroadfoundation.org) remains a "Launching Soon" placeholder page with only a basic contact form. This prolonged pre-launch status (the domain has been active since at least 2022) may indicate the foundation is intentionally maintaining a low public profile rather than planning an imminent public launch.

Legal administration: Susan C. Frunzi of Schulte Roth & Zabel LLP continues to serve as the foundation's administrative contact. Her role at the law firm — specializing in estate planning, charitable giving, and administration of tax-exempt organizations for high-net-worth individuals — positions the foundation within a broader portfolio of philanthropic vehicles she oversees.

No public leadership changes or strategic announcements have been identified for this foundation during 2024-2026.

## Application Tips for the Dune Road Foundation

The fundamental challenge: The Dune Road Foundation does not have a public application process, published guidelines, or transparent grantmaking criteria. This makes traditional "application tips" less relevant than relationship and positioning strategies.

What we can infer from grantmaking patterns:

1. Institutional prestige matters: The known grant recipients (NYU, Doctors Without Borders, God's Love We Deliver) are all well-established, nationally or internationally recognized organizations. This suggests the foundation favors organizations with strong brand recognition, proven track records, and institutional credibility.

2. Unrestricted support is the model: All documented grants are classified as "general purpose," meaning the foundation is not looking for detailed project proposals. Instead, the implicit ask is: "Is this organization doing important work that deserves flexible support?" Organizations should be prepared to articulate their overall mission impact rather than pitch specific projects.

3. New York City connection: All identified grantees have significant NYC ties. Organizations based in or heavily serving the New York metropolitan area may have an advantage.

4. Diverse cause areas: The foundation funds across education, humanitarian aid, and social services — there is no single issue focus. This suggests grantmaking follows the donor's personal interests rather than a structured program strategy.

Practical steps for organizations seeking funding:

1. Use the website contact form: The only public point of contact is the form at duneroadfoundation.org. While there is no evidence this leads to grant opportunities, it is the only direct channel available.

2. Network through legal/advisory channels: The foundation is administered through Schulte Roth & Zabel LLP. Professional connections in New York's philanthropic advisory ecosystem may provide introductions.

3. Engage with existing grantees: Organizations that have relationships with NYU, Doctors Without Borders, or God's Love We Deliver may find networking pathways to the foundation's decision-makers.

4. Monitor 990 filings: Since the foundation does not publish grantmaking data publicly, tracking annual 990-PF filings (typically available 12-18 months after fiscal year end) is the best way to understand evolving funding priorities.

5. Be patient: As a foundation still in its early growth phase with a "Launching Soon" website, Dune Road may develop more structured and transparent grantmaking processes as it matures. Organizations that establish early relationships may benefit as the foundation scales.