The Brodsky Family Foundation

## Approach Strategy for The Brodsky Family Foundation

The Brodsky Family Foundation is a well-established private non-operating foundation located at 400 West 59th Street (3rd Floor) in Midtown Manhattan, New York. Founded in 1985, the foundation is associated with the prominent Brodsky real estate family of New York City. The Brodsky Organization is one of New York's largest privately-held residential real estate companies, managing and developing residential and commercial properties throughout Manhattan. The foundation consistently distributes over $1 million annually to charitable organizations. Given its preselected-only grantmaking model and lack of a public-facing website, outreach should focus on building connections through New York City philanthropic circles, real estate industry networks, and arts and cultural institutions where the Brodsky family is active. Organizations based in or serving New York City with programs in arts, education, or human services are likely best positioned for consideration.

## Funding Patterns Analysis

The Brodsky Family Foundation has maintained a remarkably consistent grantmaking program over five years:

• 2023: $969,000 in grants (total expenses: $1,280,935, book assets: $6.1M, FMV: $18.0M)
• 2022: $1,205,000 in grants (total expenses: $1,222,364, book assets: $5.7M, FMV: $18.9M)
• 2021: $1,206,000 in grants (total expenses: $1,220,648, book assets: $5.6M, FMV: $26.5M)
• 2020: $1,215,050 in grants (total expenses: $1,396,424, book assets: $6.5M, FMV: $26.8M)
• 2019: $1,292,750 in grants (total expenses: $1,634,017, book assets: $7.6M, FMV: $27.3M)

The five-year average is $1.18M annually. There is a slight downward trend in grantmaking from $1.29M (2019) to $969K (2023), a 25% decline. Meanwhile, FMV of investments dropped from $27.3M to $18.0M, a 34% decline likely reflecting market conditions in 2022-2023. Revenue is volatile ($245K to $1.66M), suggesting the foundation relies heavily on investment returns. The 2023 payout rate relative to FMV is approximately 5.4%, just above the IRS minimum.

## Peer Comparison

The Brodsky Family Foundation falls in the middle range for NYC family foundations of its investment size. Its payout rate is adequate but not generous. The declining grant trajectory and absence of a public website suggest a low-profile operation focused on ongoing relationships with established grantees rather than active expansion of its portfolio. Administrative costs are somewhat high at 24% of total expenses, though this may include investment management fees.

## Recent Activity and Trends

Key observations from recent IRS filings for The Brodsky Family Foundation:

• Declining Investment Portfolio: The fair market value of investments dropped from $27.3M (2019) to $18.0M (2023), a 34% decline over four years. This likely reflects both market corrections in 2022 and ongoing distributions that exceed investment returns. Book value of assets has remained more stable ($5.6M-$7.6M range), suggesting significant unrealized gains in the portfolio.

• Grant Reductions in 2023: The 2023 grant total of $969K was the lowest in the five-year period, down from a consistent $1.2M level in 2020-2022. This may be a response to the declining portfolio value, suggesting the foundation is adjusting distributions downward to preserve the endowment.

• No Outside Contributions: Like most established family foundations, the Brodsky Family Foundation receives no outside gifts (contributions = $0 in all recent years), operating entirely from its investment endowment.

• Real Estate Connections: The Brodsky Organization, the family's primary business, continues to be a major force in Manhattan real estate. This connection likely influences the foundation's giving patterns, particularly toward organizations involved in housing, urban development, and community improvement in New York City.

## Application Tips

The Brodsky Family Foundation does not maintain a public website or accept unsolicited proposals. Organizations seeking support should consider the following strategies:

1. Leverage New York City Networks: The Brodsky family is deeply embedded in New York City's real estate, business, and philanthropic communities. Engage through NYC-based nonprofit coalitions, board membership overlaps, and philanthropic events attended by prominent New York families. The foundation's Midtown Manhattan address (400 W 59th St) places it in the heart of the Lincoln Center cultural district.

2. Focus on NYC-Centric Missions: Given the family's roots in New York City real estate and community development, organizations serving NYC communities — particularly in the arts, education, housing, and human services — are most likely to align with the foundation's interests.

3. Demonstrate Institutional Credibility: With nearly 40 years of grantmaking history, the foundation likely favors established organizations with proven track records. Newer organizations should seek introductions through mutual board members or existing grantees rather than cold outreach.

4. Be Mindful of Capacity Constraints: The declining portfolio value and reduced grantmaking in 2023 suggest the foundation may be more selective in coming years. Focus requests on specific, high-impact projects rather than general operating support, and keep ask amounts reasonable (likely $10K-$50K range for new grantees).

5. Address Correspondence Properly: Mail inquiries to The Brodsky Family Foundation, 400 West 59th Street, 3rd Floor, New York, NY 10019. A brief, one-page letter from organizational leadership is more appropriate than a formal grant application given the foundation's private nature.