The Nathan Cummings Foundation Inc.

The Nathan Cummings Foundation operates with a defined "Totality of Assets" philosophy, positioning itself as a strategic partner rather than a transactional funder. Rooted in the Jewish tradition of social justice and carrying the legacy of retail magnate Nathan Cummings, the foundation works through a multigenerational family governance structure — several Cummings family members sit on the board alongside outside trustees, including Chair Jaimie Mayer and Vice Chair Ruth Cummings. This family character shapes its preference for deep, relationship-oriented partnerships over one-time awards.

NCF structures its giving into three tiers that function as a relationship escalator. Venture Grants (up to $100,000 for one year) serve as entry points for new partners — exploratory funding for emerging initiatives. Advancement Grants (up to $250,000 annually for up to two years) support organizations ready to scale proven work. Enterprise Grants ($250,000+ annually for multiple years) are invitation-only, reserved for deeply aligned, high-trust partners. Nearly all first-time applicants enter at the Venture level.

The evidence from NCF's grantee history is instructive: New Israel Fund has received $2.05 million across 8 grants, Allied Media Projects $965,000 across 8 grants, and Bend the Arc $832,000 across 6 grants. These multi-grant relationships typically span 5-7 years and compound into substantial cumulative support. By contrast, single-engagement recipients rarely see awards beyond $100,000.

NCF strongly favors organizations that combine direct organizing with policy advocacy, narrative strategy, and structural change frameworks — not direct service providers without a larger advocacy frame. Top grantees span climate and environmental justice (Climate Justice Alliance, Uprose, Gulf South for a Green New Deal), economic justice (Jobs to Move America, Common Future, People's Action Institute), racial justice and democracy (Color of Change Education Fund, Advancement Project, Majority Action), and Jewish social justice (T'ruah, Join for Justice).

First-time applicants should know: with a FY 2026 grantmaking budget of $15 million — down from $34.2 million in total giving in 2021 — the foundation is operating with heightened selectivity. Applications that explicitly align with the US South place-based initiative carry a genuine competitive advantage. Work centering data transparency and technological interventions addressing societal bias in the South is a named 2026 priority.

NCF's grantmaking shows a combination of broad-base middle-tier awards and a small number of high-value repeat relationships. Across 579 tracked grants totaling $36.76 million in available data, the average grant is approximately $63,491 — pulled down by smaller Venture-level awards. The practical range for Advancement Grants runs $125,000–$175,000 per year; typical first-time Venture grants cluster between $50,000 and $75,000. Enterprise awards are not publicly disclosed by individual amount but consistently exceed $250,000 annually.

Annual giving has fluctuated significantly with investment performance. Grants paid peaked at $24.5 million in 2019 and $23.2 million in 2021 (a year of extraordinary endowment returns), before declining to $13.3 million in grants paid in 2023, though total giving including PRIs reached $26.8 million that year. For FY 2026, NCF has set a $15 million grantmaking budget plus $4 million in PRIs — roughly $19 million in total capital deployed. The foundation's total assets grew from $444 million in 2019 to $482.5 million in 2024 despite the sustained payout.

By geography, New York (161 grants) and California (147 grants) dominate the existing portfolio — a legacy of where established justice infrastructure is concentrated. Washington DC (77 grants) reflects a strong policy and advocacy orientation. However, the US South pivot is creating new opportunity in Georgia (18 grants), Tennessee (10 grants), and North Carolina (13 grants).

By thematic area in the tracked data: - Racial and intersectional justice (~35%): Color of Change Education Fund ($600K), Advancement Project ($275K), Majority Action ($506K) - Environmental and climate justice (~25%): Climate Justice Alliance ($462K), Uprose ($500K), Solutions Project ($400K) - Economic justice and labor (~20%): Jobs to Move America ($300K), Common Future ($475K), Local Progress Policy Institute ($250K) - Jewish social justice and Israel-Palestine (~10%): New Israel Fund ($2.05M), Bend the Arc ($832K), T'ruah ($250K) - Media, narrative, and culture (~10%): Allied Media Projects ($965K), Center for Cultural Power ($350K), Firelight Media ($300K)

General operating support dominates — the phrase "GENERAL SUPPORT" appears as the most frequent grant purpose across the top 50 grantees. Organizations seeking unrestricted core operating funding are better positioned than those requesting narrow project support.

The Nathan Cummings Foundation occupies a distinctive position among foundations with comparable asset bases. Its closest financial peers by endowment size include the Evelyn and Walter Haas Jr Fund ($484M, California), the Leon Levy Foundation ($491M, New York), and the William N. Pennington Foundation ($482M, Nevada) — all in the $480-$491M range.

NCF stands out within this peer cohort in two important ways. First, it maintains an open, rolling LOI process through its Temelio portal — a meaningfully more accessible entry point than the invitation-only approach of the Leon Levy Foundation or the selective model at Haas Jr Fund. Second, NCF's explicit three-tier grant structure (Venture/Advancement/Enterprise) creates a transparent pathway from first engagement to deep partnership that is uncommon among foundations at this asset level.

NCF's $15 million FY 2026 grantmaking budget represents a contraction from its 2021 peak of $34.2 million in total giving, which is below the 5% payout typical of $480-490M endowments (~$24M). However, the PRI track and US South initiative represent additional capital channels. The foundation's current focus and tighter budget mean competition for awards is meaningfully higher than in 2019-2021.

The most significant development in NCF's recent trajectory is the 2025 launch of its US South place-based initiative. The foundation's board formally committed 40% of its total assets — financial relationships, convening power, knowledge, and direct capital — to supporting racial, economic, and environmental justice work across the US South. The initiative was framed as a recognition that Southern changemakers demonstrate extraordinary resilience and innovation despite receiving less than 3% of national philanthropic dollars. This is NCF's boldest strategic geographic shift since its founding.

In late 2025 or early 2026, NCF took notable shareholder activism action by filing suit against Axon Enterprise, Inc. in US District Court for the District of Columbia. The foundation sought to prevent Axon from excluding NCF's shareholder proposal requesting greater transparency around the company's political spending — a direct response to the SEC's November 2025 announcement that it would no longer review company requests to exclude such proposals. The litigation underscores NCF's mission-aligned investing posture and willingness to pursue legal remedies to advance corporate accountability.

Under President and CEO Reynard Ramsey (reported compensation: $369,394), who transitioned from an interim role, the foundation has achieved leadership stability after a period of significant executive turnover that included tenures under Sharon Alpert, Kavita Ramdas, and multiple interim arrangements. VP of Finance and Mission Investments Bob Bancroft ($310,030) has provided continuity across leadership transitions. The combination of a settled senior team and a codified five-year REEJ strategic plan — now in its fourth year — gives the current program staff direction and priorities that are unusually clear by foundation standards.

The single most important preparation before submitting an NCF LOI is auditing your theory of change for advocacy versus service orientation. NCF explicitly excludes direct service projects — food, housing, cash transfer, workforce development — unless they are demonstrably part of a larger structural-change advocacy strategy. If your organization operates direct programs, the LOI must make that advocacy connection explicit and central, not incidental.

Second, anchor proposal language to NCF's REEJ framework. Use the foundation's own terminology: "racial, economic, and environmental justice," "structural barriers," "systemic change," "worker power," "regenerative economics." Program staff respond to proposals demonstrating genuine alignment with NCF's theory of social change. Majority Action's awards for "Anti-Semitism and the Anti-ESG Movement" ($506,500 across 3 grants) and Interfaith Center on Corporate Responsibility's just-transition work ($260,000 across 5 grants) illustrate how policy and shareholder accountability framing resonates.

Third, if your work is geographically rooted in the US South — particularly Georgia, Tennessee, North Carolina, or neighboring states — make that geographic positioning central to the LOI, not a footnote. NCF's 40%-of-assets commitment to the South means Southern organizations have a genuine 2026 competitive advantage. The foundation is specifically seeking community-led, locally rooted work designed by those most proximate to injustice.

Fourth, identify the correct grant tier. Venture Grants (up to $100K) are for emerging initiatives and new relationships — position first-time applications here with a clear learning agenda. Advancement Grants (up to $250K/year) require demonstrated impact, ideally including outcomes from prior NCF support. Do not apply for Advancement level without an established track record that warrants it.

Fifth, consider the PRI track if your organization can accept repayable capital: $250,000–$750,000 repayable over 3-7 years, for organizations demonstrating inability to access conventional financing. With $4 million in PRI capital available for FY 2026, this is a less competitive pathway than the grant program.

On timing: the Temelio portal is open year-round on a rolling basis. Given the 12-week review cycle, submit by February for spring consideration or by July for fall awards. Contact ga_admin@nathancummings.org for content questions before submitting.