Karsh Family Foundation

The Karsh Family Foundation operates as a quintessential invitation-only philanthropic vehicle, driven entirely by the personal priorities and relationships of trustees Bruce A. Karsh and Martha L. Karsh. Bruce Karsh — co-founder and co-chairman of Oaktree Capital Management — brings a private equity investor's discipline to grantmaking: concentrated, high-conviction bets on proven, high-impact organizations with long-term partnership horizons rather than broad portfolio diversity. The foundation's application instructions are explicitly "none": it does not review unsolicited proposals and makes contributions only to preselected charitable organizations.

The foundation has articulated three funding priorities: access to quality education (with particular emphasis on K-12 reform and higher education), community health and social welfare, and the promotion and strengthening of American democracy. Its grantee roster confirms this framework — University of Virginia ($25.3M across 3 grants), Cedars-Sinai Medical Center ($15M across 4 grants), Howard University ($11.1M across 4 grants), KIPP Foundation ($9M across 4 grants), and the United Negro College Fund ($8M across 4 grants) anchor the portfolio.

The defining characteristic of the Karsh grantmaking model is institutional loyalty. Virtually every top recipient in the database shows 3-4 repeat grants over the tracked period — a signature of multi-year pledge fulfillments rather than one-time transactional gifts. Organizations that receive initial support tend to remain in the portfolio for years. This suggests rigorous due diligence before a first grant, followed by substantially scaled funding once trust is established.

Personal biography shapes the portfolio significantly. Bruce Karsh attended Duke University (undergraduate) and UVA School of Law — both rank as the foundation's largest cumulative recipients. The Karsh Institute of Democracy at UVA was established with a $50M commitment in 2021; the Karsh Center for Law and Democracy at UVA Law received at least $13.9M cumulatively. Los Angeles civic institutions — Wilshire Boulevard Temple ($3.6M), Jewish Federation of Greater LA ($2M), Skirball Cultural Center ($1M), Homeboy Industries ($95K) — reflect Martha Karsh's deep community ties. First-time applicants must understand there is no pathway through traditional grant-seeking channels: relationship cultivation with the trustees themselves, or through their immediate networks, is the only realistic approach.

The Karsh Family Foundation's grantmaking has grown dramatically over its history — from $11.1M in annual giving in 2012 to $38.5M in fiscal 2024, while assets expanded from $84.9M to $347.9M over the same period. This 3.5x growth in disbursements reflects both asset appreciation and the increasing scale of the Karshes' philanthropic ambitions.

From 252 tracked grants totaling $128.7M in the database, the average grant size is $510,785 — but this is heavily skewed by a small number of transformational gifts. The distribution shows two distinct tiers:

• Mega-commitments ($5M+ cumulative): University of Virginia ($25.3M), Cedars-Sinai Medical Center ($15M), UVA Law School Foundation ($13.9M), Howard University ($11.1M), KIPP Foundation ($9M), UNCF ($8M), Teach for America ($5.5M). These represent anchor relationships with flagship institutions.
• Operational and community grants ($25K-$250K): Homeboy Industries ($95K cumulative), Planned Parenthood Los Angeles ($125K), KCRW Foundation ($100K, 4 grants), Alzheimer's Greater Los Angeles ($40K), Jewish Big Brothers Big Sisters ($80K). These are recurring small-scale community commitments.

Education dominates at approximately 55-60% of total tracked disbursements. Philanthropic and community activities (including Jewish organizations, civic engagement groups, and social welfare) account for roughly 22%. Health receives approximately 12%, and arts approximately 5%.

Geographically, California receives the plurality — 135 of 252 tracked grants — reflecting the Karshes' Beverly Hills base. New York follows with 43 grants (arts institutions, HBCU national offices), Washington DC with 19 (policy and democracy organizations), Missouri with 9 (likely St. Louis healthcare ties), and Virginia with 9 (UVA-related giving). Annual giving fluctuates with pledge disbursement timing: 2021 peaked at $38.2M as the UVA Institute commitment flowed through; 2022 dipped to $28.7M. The 2024 reading of $38.5M suggests another large commitment is being fulfilled.

The following table compares the Karsh Family Foundation to four asset-comparable peers in the Philanthropy & Grantmaking NTEE category, all with assets in the $341-349M range:

Among asset-comparable peers, the Karsh Family Foundation is a clear outlier in disbursement scale: at $30-38M annually, it distributes nearly double what the Geraldine R. Dodge Foundation gives, and four to five times more than Roundhouse or Farash. For national-scale education, health, or democracy organizations unable to access the Karsh invitation-only model, the Geraldine R. Dodge Foundation is the most accessible comparable alternative — it accepts open applications and funds arts, environment, and New Jersey-based education. The Jewish Foundation of Cincinnati serves its regional community rather than national grantees. Roundhouse and Farash are geographically concentrated funders with limited relevance to organizations outside Oregon and upstate New York, respectively.

The most significant recent development in the Karsh Foundation's history was the 2021 commitment of approximately $50M to establish the Karsh Institute of Democracy at the University of Virginia — the foundation's largest single gift to date and reflected in the 2021 fiscal year peak of $38.2M in total giving. A companion investment established the Karsh Center for Law and Democracy at UVA School of Law, with cumulative gifts to UVA Law totaling $13.9M in the tracked database. In 2020, a $25M commitment to Cedars-Sinai Medical Center for gastroenterology research was completed.

Fiscal year 2024 data from ProPublica shows charitable disbursements of $38.5M — matching 2021 as the foundation's highest recorded annual giving. This suggests another major multi-year pledge is being fulfilled, though the specific recipient has not been publicly announced as of early 2026.

No press releases, website announcements, or media coverage related to 2025-2026 grants have been identified. The Karsh Family Foundation maintains no public website of its own, no social media presence, and no formal communications infrastructure. Bruce A. Karsh and Martha L. Karsh serve without compensation. No leadership transitions have been publicly announced. The Carol Kimmelman Athletic and Academic Campus Inc. — which received $7M across 4 grants — represents a relatively newer addition to the portfolio and may signal growing interest in sports-integrated youth development.

Because the Karsh Family Foundation operates exclusively by invitation, the following tips address relationship cultivation rather than proposal development:

Map your connection point before anything else. Bruce Karsh graduated from Duke University (BA) and UVA School of Law (JD) and co-founded Oaktree Capital Management in 1995. Martha Karsh is active in Los Angeles civic philanthropy, particularly Jewish community organizations and arts institutions. Any board member or senior leader with overlapping relationships in these networks is a genuine entry point. Conduct a thorough audit of your leadership against Duke alumni networks, UVA Law alumni, and Oaktree's LP community before taking any action.

Demonstrate national scale and sector leadership. Every major grantee — KIPP Foundation, Teach For America, Charter School Growth Fund, Howard University, Spelman College, UNCF — is a nationally recognized sector leader with proven outcomes at scale. The Karshes do not fund emerging organizations or local pilots. Your organization must be, or be rapidly approaching, the top tier of its field.

Lean into HBCU and educational equity framing. The foundation's sustained investments in Howard University ($11.1M), UNCF ($8M), Spelman College ($3.5M), and KIPP SoCal ($4.7M) confirm genuine commitment to educational equity and historically underrepresented communities. Organizations in this space have natural thematic alignment that others lack.

Never cold-contact the foundation. Do not call (213) 830-6402 or mail unsolicited proposals to 9595 Wilshire Blvd, Beverly Hills, CA 90212. The foundation explicitly does not accept unsolicited requests, and cold contact signals a fundamental misunderstanding of their model.

Track 990-PF filings annually. The foundation files under EIN 13-7147287. Check ProPublica each October-December when new filings typically appear. New grantees signal emerging priority areas; shifts in giving levels to existing grantees indicate which relationships are deepening or winding down.

Frame everything in their exact language. When discussing your work through any informal channel, use the Karshes' stated priorities verbatim: access to quality education, community health and social welfare, and strengthening American democracy. Generic mission statements will not land with trustees who have deeply personal reasons for each funding priority.