Richard & Karen Lefrak Charitable
The Richard & Karen Lefrak Charitable Foundation is a private foundation established in 1989 and tax-exempt since January 1991. Based in Wilmington, Delaware, the foundation was created by Richard S. LeFrak, a billionaire real estate mogul and chairman and CEO of LeFrak Organization (a privately held, family-run real estate company based in New York), and his wife Karen LeFrak, a children's book author and composer. The foundation operates as a 501(c)(3) organization and maintains a low public profile.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$8.0M
-26.5% YoY
Annual Giving
$5.0M
+37.8% YoY
Grant Count
24
+41.2% YoY
Avg Grant Size
$209K
-2.4% YoY
Mission & Focus Areas
The foundation gives primarily for the arts, education, health and human services. Its grantmaking includes support of arts and cultural organizations, healthcare innovation, and educational institutions. The foundation does not appear to have specific formal grantmaking programs, but tax records demonstrate consistent prioritization of arts and culture, and public health and access.
Grantmaking
The foundation maintains a low public profile and does not publicize a formal application process. Given the foundation's lack of transparency regarding application procedures, it is unclear whether it accepts unsolicited applications.
Grant Range
s and Activity:**
How to Apply
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Geographic Focus
Where this funder awards grants
The foundation has national giving scope with particular concentration in New York City and the tri-state area, as well as select U.S. cities including Massachusetts and Florida.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
As of Most Recent Filings:
- Total Assets: $8,041,006 (2024)
- Total Assets: $10,936,808 (2023)
- Total Revenue: $2.22M (2024)
- Total Revenue: $3,285,623 (2023)
- Total Expenses: $5.12M (2024)
- Total Expenses: $3,746,543 (2023)
- Total Liabilities: $0 (2024)
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $8,041,006 | $10,936,808 | $11,391,086 |
| Revenue | $2,223,179 | $3,285,623 | $17,991 |
| Expenses | $5,117,433 | $3,746,543 | $2,952,175 |
| Qualifying Distributions | $5,062,468 | $3,690,784 | $2,895,241 |
| Net Investment Income | $288,793 | $3,186,847 | $48,580 |
| Distributable Amount | $516,159 | $523,326 | $610,543 |
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
96 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
- Richard S. LeFrak - Founder, serves as vice chairman of the board of the American Museum of Natural History
- Karen LeFrak - Founder, serves on the New York Philharmonic Board of Directors
- Thomas A. Varley - Director & President
- Brian McLean - Director & Secretary
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| BRIAN MCLEAN | DIRECTOR & EXECUTIVE VICE PRESIDENT | 5 | — |
| JAY MCHUGH END 1024 | DIRECTOR & VICE PRESIDENT | 5 | — |
| JOSHUA GRANT | DIRECTOR | 5 | — |
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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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