Rise8 Foundation is a private grantmaking foundation established in 2008 with 501(c)(3) tax-exempt status granted in January 2009. Based in Hunt Valley, Maryland, the foundation operates with deliberate privacy, maintaining no public website and accepting no unsolicited proposals. The foundation makes grants through trustee discretion to preselected organizations only.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$342.5M
+13.8% YoY
Annual Giving
$15.3M
-20.3% YoY
Grant Count
16
-23.8% YoY
Avg Grant Size
$957K
+4.6% YoY
Mission & Focus Areas
The foundation focuses on education (particularly STEM), healthcare, and humanitarian causes. Specific priority areas include:
- Technology education initiatives
- STEM education and education reform
- Charter schools and alternative education models
- Children's health and development
- Medical research and healthcare institutions
- Humanitarian causes
Grantmaking
Recent grants include $13.4 million to National Philanthropic Trust, $2.3 million to Khan Academy, and $1 million to KIPP NYC.
How to Apply
- Smaller grants: $1,000–$50,000 (for various charitable causes)
Ready to take the next step with Rise8 Foundation?
Geographic Focus
Where this funder awards grants
The foundation has a primarily US focus with some international activity. Funding is distributed across multiple states, with significant presence in New York, California, New Jersey, Maryland, and Connecticut. The foundation has supported organizations across at least 10 states, with Pennsylvania, Maryland, and New York accounting for 59% of all grants.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Assets & Annual Giving:
- Total assets: $342.5 million (2024)
- Annual giving: $15–$20 million
- Total assets have grown from $58,220 in 2011 to $342.5 million in 2024
Recent Financial Data (2023):
- Total revenues: $18.6 million
- Total expenses: $19.7 million
- Total assets: $301 million
Grant History: According to available records, Rise8 Foundation has made 71 grants totaling $42.1 million, with a median grant of $125,000. Individual grants have ranged from $500 to $13.4 million, with an average award of $593,000. The foundation has supported 33 unique organizations.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $342,478,446 | $301,043,492 | $302,140,201 |
| Revenue | $49,443,141 | $18,586,029 | $-96,138,212 |
| Expenses | $16,004,312 | $19,668,492 | $6,899,095 |
| Qualifying Distributions | $15,416,893 | $19,398,417 | $4,625,680 |
| Net Investment Income | $24,836,812 | $24,627,228 | $49,793,629 |
| Distributable Amount | $15,521,538 | $14,504,642 | $19,267,658 |
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
68 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
The foundation is founded and operated by husband-and-wife trustees Feroz and Erica Dewan. The foundation is also known as the Feroz and Erica Dewan Foundation.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| FEROZ DEWAN | TRUSTEE | 2 | — |
| ERICA DEWAN | TRUSTEE | 2 | — |
Contact Information
Mailing Address: 119 Fifth Avenue, 8th Floor New York, NY 10003
Additional Address: EP1 11350 McCormick Road, Suite 702 Hunt Valley, MD 21031
Email and phone contact information are not publicly available.
Subject Areas
Focus areas based on grantmaking activity
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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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