Keren Keshet - the Rainbow Foundation
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.
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
34
+6.3% YoY
Avg Grant Size
$393K
+71.0% YoY
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
The foundation does not accept unsolicited applications. Grant opportunities are by invitation only.
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
States
Cities
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.
| 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 |
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
No grants recorded for .
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
From 2024 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
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
Related Funders
Similar funders by location and focus area
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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