Total Assets (endowment): $7,500,000[1]
Total Giving (1987-2009): $11,000,000
Total Giving (2010): $2,328,300[2]
Prominent Grants: Giving limited to LGBT causes in the New York metropolitan area. Grantees include the Long Island Crisis Center, New York City Gay and Lesbian Anti-Violence Project.
Summary: The Paul Rapoport Foundation was an independent private foundation established in 1987 to serve the lesbian, gay, transgender and bisexual (“LGTB”) communities of the metropolitan New York area with the mission to achieve full equality for the LGBT community, in all of its diversity. The Foundation made the decision to spend down in 2009 due to the financial crisis. After engaging outside consultants to evaluate its past funding and its options for continuing to support the New York LGBT population, the foundation’s board and staff unanimously agreed to seek to maximize its impact over a five year period by dramatically increasing its funding levels in the near‐term and spending‐out by 2015. The Foundation officially closed as on June 2014.