Stanrose Foundation

## Approach Strategy

The Stanrose Foundation is a private grantmaking foundation established in 2017 in Wilmington, Delaware, directed by Eric Bannasch and Jennifer Keam — both Stanford alumni (Class of 1996) and partners at Cadian Capital Management, a New York-based hedge fund. The foundation operates as a classic donor-directed private foundation with zero staff compensation, reflecting a personal philanthropic vehicle rather than a professionally staffed institution.

The foundation's grantmaking strategy operates on three distinct tracks:

1. Alma Mater Investment: Significant giving to Stanford University, including the Keam Bannasch Fund at Stanford Graduate School of Business and Stanford Impact Labs. This reflects the founders' deep Stanford ties — both hold multiple Stanford degrees (BA, MS/MA, MBA).

2. Health and Medical Research: Targeted support for the Myelodysplastic Syndromes (MDS) Foundation, a rare blood cancer research organization. This appears to be a cause close to the founders, given the specificity of the medical condition.

3. International Philanthropy: The foundation's largest single grant in 2024 ($2.4 million) went to National Philanthropic Trust Transatlantic Limited, a dual-qualified UK/US charity that enables tax-efficient international grantmaking. This suggests the foundation has significant international charitable interests that are routed through NPT's infrastructure to organizations in Europe or elsewhere.

The foundation has grown rapidly from $6.6 million in assets (2018) to $38.6 million (2024), funded entirely by contributions from its founders. This growth trajectory suggests the founders are systematically building the foundation as a long-term philanthropic vehicle, likely funded by Cadian Capital investment returns.

## Funding Patterns

The Stanrose Foundation has experienced significant growth since its 2017 founding, with assets expanding from $6.6M to $38.6M over six years. Grantmaking has scaled accordingly.

2024 Financial Overview: - Total Assets: $38.6 million - Total Revenue: $1.6 million (94.1% from contributions) - Total Expenses: $2.65 million - Charitable Disbursements: $2.61 million (98.5% charitable efficiency) - Officer Compensation: $0

Grant Distribution (2024): - Number of Awards: 9 - Grant Range: $1,000 to $2,400,000 - Median Grant: $10,000 - Total Giving: ~$2.6 million

Major 2024 Recipients: - National Philanthropic Trust Transatlantic Limited: $2,400,000 (international giving vehicle) - Trinity Episcopal Schools Corporation: $50,000+ - Myelodysplastic Syndromes Foundation: $25,000+ - Stanford University programs: multiple grants

Historical Giving Trajectory: - 2018: $133,500 (8 grants, $6.6M assets) - 2019: $164,500 (from $10.5M assets) - 2022: $1,570,317 (8 awards) - 2024: $2,610,000 (9 awards, $38.6M assets)

Revenue Pattern: The foundation is primarily funded by ongoing contributions from its founders ($1.5M in 2024, $4M in 2019) rather than investment returns. Investment income (dividends, interest, asset sales) totals only ~$124,000, indicating the endowment is conservatively invested or the foundation draws down contributions relatively quickly.

Key Observation: The foundation makes very few grants (8-9 per year) at highly variable amounts. The $2.4M NPT Transatlantic grant represents over 90% of 2024 giving, suggesting the international track dominates the foundation's current priorities.

## Peer Comparison

The Stanrose Foundation is a founder-directed private foundation typical of the hedge fund philanthropy ecosystem. Below is a comparison with similar foundations:

Positioning: The Stanrose Foundation is relatively small among hedge fund philanthropy vehicles but growing rapidly. Its MDS Foundation support puts it in a very niche donor community alongside the Evans Foundation (the major private funder of MDS research) and the Dresner Foundation. Its Stanford-focused education giving is common among alumni foundations but the combination of MDS research, Stanford programs, and international giving through NPT Transatlantic creates a distinctive profile.

Key Differentiators: Unlike larger hedge fund foundations that employ professional staff and run competitive grant programs, the Stanrose Foundation operates with zero overhead and zero staff compensation, routing all decisions through its two founders. This makes it more responsive to founder interests but less accessible to organizations without existing relationships.

## Recent Activity

Rapid Asset Growth: The foundation's assets grew from $6.6 million in 2018 to $38.6 million in 2024, a nearly 6x increase in six years. This growth was driven primarily by founder contributions, including a $4 million contribution in 2019 and $1.5 million in 2024. The founders appear to be systematically building the foundation's endowment from Cadian Capital Management investment returns.

2024 International Pivot: The most notable development in 2024 was the $2.4 million grant to National Philanthropic Trust Transatlantic Limited, which represents over 90% of the year's total giving. NPT Transatlantic is a dual-qualified UK/US charity that enables tax-efficient international grantmaking across 90+ countries. This large allocation suggests the founders have identified significant international charitable interests — potentially in the UK or Europe given NPT Transatlantic's London base — that require the cross-border tax efficiency NPT provides.

Ongoing Stanford Investment: The foundation continues to support Stanford University through the Keam Bannasch Fund at Stanford GSB and Stanford Impact Labs, reflecting the founders' ongoing alumni engagement. Both Eric Bannasch and Jennifer Keam are active Stanford volunteers, serving on the Stanford Open Minds New York Committee.

Medical Research Commitment: Support for the MDS Foundation continues, demonstrating sustained commitment to myelodysplastic syndromes research. MDS is a rare blood cancer with limited private foundation funding, making even modest grants significant to the research community.

Education Grants: Trinity Episcopal Schools Corporation received $50,000+, likely reflecting personal connections to independent school education in the New York area where the founders are based.

## Application Tips

Critical Note: The Stanrose Foundation does not accept unsolicited grant requests. The foundation explicitly states it "only makes contributions to preselected charitable organizations and does not accept unsolicited requests for funds."

Understanding the Foundation's Decision-Making:

1. This is a two-person decision. Eric Bannasch (President/Secretary/Treasurer) and Jennifer Keam (Vice President) are the sole directors and decision-makers. Both are Stanford GSB alumni and partners at Cadian Capital Management in New York. Any path to funding requires a personal connection to one or both founders.

2. Stanford network is your best entry point. The founders are deeply engaged Stanford alumni — Class of 1996 (undergraduate), with Bannasch holding MS '96 and MBA '03 degrees and Keam holding an MA '98. They serve on the Stanford Open Minds New York Committee. Organizations with Stanford connections or referrals from Stanford networks are most likely to be considered.

3. MDS research organizations have a specific pathway. If your organization works on myelodysplastic syndromes research, treatment, or patient support, the foundation has demonstrated sustained interest in this area. Consider reaching out through the MDS Foundation network or at MDS-focused conferences and events.

4. International organizations should consider NPT Transatlantic. The foundation's largest 2024 grant went to NPT Transatlantic, indicating active international grantmaking. Organizations already working with NPT as a fiscal intermediary may have a pathway to Stanrose Foundation support.

5. Keep asks reasonable. Outside the major NPT Transatlantic grant, individual awards range from $1,000 to $50,000, with a median of $10,000. The foundation makes only 8-9 grants per year, so competition for attention is high even among preselected organizations.

6. New York presence helps. The founders are based in New York (Cadian Capital Management is headquartered there), and grants to Trinity Episcopal Schools and other organizations reflect New York-area connections. Organizations with a visible presence in New York philanthropic circles may have better access.

7. No public contact information is available for grant inquiries. The foundation's website (stanrose.org) is a minimal Wix site with no substantive content. The foundation files at a Wilmington, DE registered agent address. Monitor 990-PF filings on ProPublica for the most current giving data.