Kapnick Foundation Trust

The Kapnick Foundation Trust operates as a donor-directed private foundation led by Scott and Kathleen Kapnick, reflecting the personal philanthropic priorities of a Wall Street executive family. Scott Kapnick, CEO of HPS Investment Partners (formerly a Goldman Sachs partner), and his wife Kathleen channel their giving through relationship-driven philanthropy rather than open competitive grantmaking. The foundation does not maintain a public application portal or published guidelines, which is typical of family foundations of this size. Their strategy centers on making significant multi-million-dollar gifts to anchor institutions where the family has personal connections—particularly the University of Chicago (alma mater), Naples-area organizations (where they reside), and major cultural institutions in New York and Chicago. With approximately $62.7M in assets and $8.4M in annual giving (2024), the foundation maintains a generous payout rate exceeding 13%, well above the required 5% minimum for private foundations, signaling active and engaged philanthropy rather than asset preservation.

The Kapnick Foundation Trust demonstrates a consistent pattern of high-value, relationship-based grantmaking across three primary verticals: education (especially higher education), arts and culture (with emphasis on performing arts), and health/medical care. Annual giving has ranged from approximately $3.9M (2017) to $8.4M (2024), with a typical grant range of $10,000 to $800,000 and occasional transformational gifts exceeding $7M. In 2022, the foundation distributed 19 grants totaling over $7M, suggesting a concentrated portfolio strategy favoring fewer, larger awards over broad distribution. Geographic giving follows the family's personal footprint: New York City, the Chicago metro area, and Southwest Florida (Naples). The foundation's revenue is volatile—ranging from $4.4M (2019) to $37.4M (2024)—driven by investment returns and contributions from the Kapnick family, particularly as HPS Investment Partners was acquired by BlackRock in a $12 billion deal announced in December 2024. This liquidity event may significantly increase future grantmaking capacity.

Among Wall Street family foundations in the $50-100M asset range, the Kapnick Foundation stands out for its unusually high payout rate (13%+ vs. the typical 5-7%) and its strong Southwest Florida focus, which differentiates it from peers primarily concentrated in the New York metro area. Like similar Goldman Sachs alumni foundations, it favors elite educational institutions and major cultural organizations, but its significant healthcare giving—particularly the $7.5M gift to Hospital for Special Surgery's Naples expansion—represents a distinctive commitment to community health infrastructure in its secondary geography.

The most significant recent development is the January 2025 announcement of a $7.5 million gift to Hospital for Special Surgery (HSS) to support construction of The Kapnick Foundation Ambulatory Surgical Center within the Patty & Jay Baker Pavilion in Naples, Florida. This facility, a partnership between HSS (ranked #1 in orthopedics nationally) and Naples Comprehensive Health, opened in March 2025 as a 100,000-square-foot center offering outpatient and inpatient orthopedic services. Scott Kapnick serves as an HSS Board Trustee. In the business sphere, BlackRock's $12 billion acquisition of HPS Investment Partners (announced December 2024) represents a transformational liquidity event for founder Scott Kapnick, who is estimated to be worth over $3 billion. This transaction could substantially increase the foundation's endowment and grantmaking capacity in coming years. The foundation's 2024 fiscal year showed $37.4M in total revenue (up dramatically from prior years) and $8.4M in charitable disbursements, with zero officer compensation—indicating the Kapnicks continue to run the foundation without drawing salaries.

Securing funding from the Kapnick Foundation Trust requires a relationship-based approach, as the foundation does not accept unsolicited proposals through a public portal. Organizations seeking support should focus on building connections through the Kapnicks' existing network—board memberships (HSS, Naples Botanical Garden), alumni networks (University of Chicago, Williams College), and Southwest Florida civic organizations. The foundation's new applicant funding rate is approximately 12%, indicating it does occasionally fund new organizations but heavily favors existing relationships. Prospective grantees should align with the foundation's three core pillars: (1) elite educational institutions, particularly those with leadership development or scholarship programs; (2) major performing arts and cultural organizations; and (3) healthcare institutions serving Southwest Florida communities. Geographic alignment with Naples/Collier County, New York City, or Chicago significantly increases the probability of funding. Organizations should demonstrate institutional excellence and national recognition, as the Kapnicks consistently support top-tier organizations (HSS ranked #1 in orthopedics, University of Chicago, The Metropolitan Opera). Written inquiries may be directed to the foundation at PO Box 73, Bowling Green Station, New York, NY 10274-0073.