Keren Keshet - the Rainbow Foundation

Foundation · Grantmaker New York, NY EIN: 13-4069592 Website

Keren Keshet - The Rainbow Foundation is a private foundation established in 1999, located at 1015 Park Avenue in New York City. The foundation was created following the death of billionaire financier Zalman Chaim Bernstein and was founded by his wife, Mem Dryan Bernstein, and longtime friend Arthur Fried, who serve as trustees. The foundation primarily supports Jewish educational and cultural programs, with a strategic, high-impact approach to grantmaking.

Key facts about Keren Keshet - the Rainbow Foundation

EIN: 13-4069592
Latest 990 filing: Form 990-PF, 2024
Annual giving (2024): $13,357,760
Grants made (2024): 34
Average grant: $392,875
Median grant: $25,000
New grantees (estimate): 19% first-time grantees (6 of 32, 2024)
Total assets: $174,232,036
Primary geography: New York (86% of itemized 2024 grant dollars)
Accepts unsolicited proposals: No
How to apply: The foundation does not accept unsolicited applications. Full details ↓

Data from IRS Form 990-PF, 2024; updated September 2026. New grantees are estimated by matching recipient names across years (methodology). Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.

Who Keren Keshet - the Rainbow Foundation funds

By grant dollars, the top recipient states for Keren Keshet - the Rainbow Foundation's 34 itemized 2024 grants were New York (86%). The most frequent recipient cities were New York, NY (20 grants) and San Francisco, CA (3 grants). 38% of grants with a stated purpose were for general or operating support. Recurring purposes include "Programming Initiatives" (17 grants) and "Research/Writing" (3 grants).

Is Keren Keshet - the Rainbow Foundation open to new grantees?

19%

first-time grantees, 2024

In 2024, 6 of 32 grantees (19%) were first-time recipients. First grants averaged $106K; repeat grants $487K. How we count

Medians: $50K first-time, $25K repeat.

63% of 2024 grantees were also funded in 2023. Method
Giving fell 30% from 2021 to 2024. Method
In 2024 it paid out 216% of its IRS minimum distribution (the 5% rule). Method

Estimate from itemized IRS Form 990-PF grant lists (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.

Next steps with Keren Keshet - the Rainbow Foundation

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Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$174.2M

-0.4% YoY

Annual Giving

$13.4M

+81.7% YoY

Grant Count

+6.3% YoY

Avg Grant Size

$393K

+71.0% YoY

Under IRS private-foundation payout rules, Keren Keshet - the Rainbow Foundation reported a distributable amount of $7.1M for 2024 — the minimum it must pay out in qualifying distributions.

Research compiled by Grantable AI from public sources. Last updated April 2026.

Mission & Focus Areas

The foundation gives primarily for Jewish educational and cultural programs, backing strong Jewish leaders and organizations. Its funding priorities include:

Jewish Education

Leadership development for educators
Hebrew language and Judaics instruction
Educational innovation and 21st-century learning
Jewish day schools and high schools

Jewish Culture and Literature

Digital media promoting Jewish culture
Public intellectual engagement with Jewish ideas
Cultural programming in Israel
Jewish publishing and literary initiatives

Additional Focus Areas

General philanthropy and voluntarism
Health care

The foundation has launched transformative enterprises including Tablet Magazine (through Nextbook), the Jewish Community High School of the Bay, and major cultural initiatives in Israel including Hebrew Book Week.

Grantmaking

Grant Range

$50,000 - $20,000,000

Average Grant

$229,689

How to Apply

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Geographic Focus

Where this funder awards grants

The foundation's geographic focus includes:

New York City metropolitan area
Israel
San Francisco
California
District of Columbia

Grant Distribution by State

New York $11.4M (86%)

District of Columbia $156K (1%)

California $110K (1%)

Florida $50K (0%)

Massachusetts $25K (0%)

All other $1.6M (12%)

Share of all 34 itemized 2024 grant dollars.

States

California District of Columbia Florida Georgia Massachusetts Minnesota North Carolina New York Rhode Island Virginia

Cities

New YorkSan FranciscoWashingtonBrooklynCedarhurstSt PetersburgNewtonSan RafaelSunriseLos AngelesTiburonWarwickAgawamAmherstAshburnAtlantaMinneapolisSan CarlosScarsdaleSmithfield

Financial History

Multi-year comparison from IRS filings

Assets & Revenue (2024)

Total assets: $174,232,036
Total revenues: $16,004,657
Total expenses: $25,229,036
Annual grants: $6,263,203

The foundation has distributed nearly $300 million in grants over its first two decades of operation.

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$174,232,036	$174,917,778	$174,719,382
Revenue	$16,004,657	$22,530,667	$7,958,320
Expenses	$25,229,036	$16,683,960	$18,362,402
Qualifying Distributions	$15,379,803	$9,272,908	$15,635,088
Net Investment Income	$12,115,060	$12,918,176	$6,367,297
Distributable Amount	$7,119,199	$7,308,359	$8,273,195

Data update history

When this profile's IRS filing data changed on Grantable

March 1, 2026 IRS filings on file for fiscal years 2020–2024

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 10 recipients in 2024

Grant Size Distribution

164 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest recipients include Jewish Communal Fund #4681 ($8,225,000), Worldwide Friends Foundation ($2,196,147), Keren Keshet Israel ($1,529,146).

Recipient	Purpose	Amount
JEWISH COMMUNAL FUND #4681 New York, NY	PROGRAMMING INITIATIVES	$8,225,000
WORLDWIDE FRIENDS FOUNDATION New York, NY	OPERATING EXPENSES	$2,196,147
KEREN KESHET ISRAEL	OPERATING EXPENSES	$1,529,146
CONGREGATION KOL ISRAEL Brooklyn, NY	CAPITAL CAMPAIGN	$414,667
1210 SCOTT STREET INC New York, NY	OPERATING EXPENSES	$202,000
WLASTQ LLC Washington DC, DC	PROGRAMMING INITIATIVES	$116,000
START UP NATION CENTRAL (AMERICAN FRIENDS OF) New York, NY	PROGRAMMING INITIATIVES	$55,000
CONGREGATION KOL SHOFAR Tiburon, CA	PROGRAMMING INITIATIVES	$50,000
RABBI SACKS LEGACY CORP New York, NY	PROGRAMMING INITIATIVES	$50,000
RAMAZ SCHOOL New York, NY	CAPITAL CAMPAIGN/OPERATING	$50,000

Leadership & Key People

Leadership team and compensation from IRS filings

Trustees

Mem Dryan Bernstein
Arthur W. Fried

Staff

Linda Sakacs, Secretary
Nechama Leibowitz, Director of Operations
Brendan Delany, Office Manager
Zhanetta Chernyak, Bookkeeper

The foundation employs 5 staff members.

Compensation Overview

From 2024 IRS filing

Name	Title	Hours	Compensation
Mem Dryan Bernstein	Vice-Pres & Treasurer	20	$22,976
Linda Sakacs	Secretary	40	$236,170
Albert L Fried	President	20	—

Recent News & Activity

Recent developments and announcements

2025

In 2025, the foundation reported record-breaking philanthropic activity in Israel, demonstrating continued commitment to its mission during a significant year for both LGBTQ+ and Jewish communities.

Subject Areas

Focus areas based on grantmaking activity

Philanthropy, Voluntarism & Grantmaking

Frequently Asked Questions

What does Keren Keshet - the Rainbow Foundation fund?

The foundation gives primarily for Jewish educational and cultural programs, backing strong Jewish leaders and organizations. Its funding priorities include: **Jewish Education** • Leadership development for educators • Hebrew language and Judaics instruction • Educational innovation and 21st-century learning • Jewish day schools and high schools **Jewish Culture and Literature** • Digital media promoting Jewish culture • Public intellectual engagement with Jewish ideas • Cultural programming i…

How do I apply for a grant from Keren Keshet - the Rainbow Foundation?

The foundation does not accept unsolicited applications. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑

Where does Keren Keshet - the Rainbow Foundation make grants?

The foundation's geographic focus includes: • New York City metropolitan area • Israel • San Francisco • California • District of Columbia

What size grants does Keren Keshet - the Rainbow Foundation award?

In 2024, Keren Keshet - the Rainbow Foundation awarded 34 grants totaling $13.4M — an average of about $393K per grant, based on its IRS Form 990 filings.

How much is Keren Keshet - the Rainbow Foundation required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, Keren Keshet - the Rainbow Foundation reported a distributable amount of $7.1M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.

What is Keren Keshet - the Rainbow Foundation's EIN?

Keren Keshet - the Rainbow Foundation's EIN (Employer Identification Number) is 13-4069592. IRS Form 990 filing data is available on this page for 2020–2024.