OVERVIEW: Founded in 1989, the Einhorn Family Foundation is the charitable vehicle of Steven G. Einhorn, Vice Chairman at Omega Advisors, and his wife Shelley. Between $1 and $2 million goes out of the foundation annually, with most of its philanthropy taking place in New York City.
IP TAKE: The couple's health giving is personal and in the past decade, they established several health outfits at New York City hospitals and medical centers with large gifts. These days, streams of money still go to health. Large sums have also gone to Jewish related causes.
FUNDING AREAS: Health, Jewish causes, NYC community
PROFILE: Steven Gary Einhorn received his B.A. from Rutgers and his M.S. in Finance from University of Illinois before going on to work at Goldman Sachs. Einhorn was Goldman Sachs' Partner-In-Charge of the global investment research department and Co-chairman of the Investment Policy Committee. In 1999, he joined billionaire Leon Cooperman's Omega Advisors where he currently serves as vice chairman. Einhorn is currently on the board of Mount Sinai School of Medicine and Mount Sinai Hospital.
In 1989, Einhorn and his wife Shelley established the Einhorn Family Foundation which centers its philanthropy in New York. Supporting New York's Jewish institutions has been a high priority, with funds going to organizations such as the UJA Federation (at least $550,000 in 2013 and similar amounts the year prior), Abraham Joshua Herschel School (at least $160,000 in 2013), and American Friends of Shalva, a New York nonprofit supporting mentally and physically challenged children in Israel. Many of these outfits appear to be supported annually, and even going back as early as 2002, a similar crop of Jewish institutions has been supported.
The couple is also deep into health, an philanthropic interest that has been cultivated over at least a decade. Recent sums have gone to the Migraine Research Fund, NYU Langone Medical Center and Damon Runyon Cancer Center, where Einhorn's boss, Leon Cooperman, serves as vice chair. Former partner at Omega Advisors Larry Robbins, has also given to Damon Runyon, though both Einhorn and Robbins have done so on a modest level.
A major component of Einhorn's health philanthropy is funding medicine combating afflictions of the eyes and ears. Shelley appears to take the lead here, where she serves on the board of the Glaucoma Foundation. Recently, the New York Eye and Ear Infirmary Glaucoma Research Fund received sums of under $10,000. But by the biggest recipient in this spaceis the Center for Hearing and Communication in Lower Manhattan, which received more than $1 million alone over a three-year period.
The Einhorns also established the Shelley and Steven Einhorn Audiology and Communication Center within the Center for Hearing and Communication, and gave $1 million to establish the Shelley and Steven Einhorn Clinical Research Center at the New York Eye and Ear Infirmary of Mt. Sinai. It's worth noting that Shelley is a client of the Center for Hearing and Communication and uses a hearing aid. She's on the board of directors as well.
In 2007, Einhorn and Shelley put $5 million to establish the Shelley and Steven Einhorn Laboratory for Experimental Cancer Therapeutics at Mt. Sinai. Einhorn was a trustee at Mt. Sinai even back then, and was courted by president and CEO of Mt. Sinai Medical Center at the time. What's more, Shelley's mother lost her battle to cancer.
Apart from health, assorted Einhorn money has gone to the Robin Hood Foundation, Central Park Conservancy, the American Museum of Natural History, the Metropolitan Opera Fund, and the Teak Fellowship. Grantmaking to these outfits has rarely exceeded $50,000 annually.
Einhorn Family Foundation has no website and no clear way for grantseekers to apply for funding.
- Steven G. Einhorn, Trustee
- Shelley Einhorn, Trustee
Einhorn Family Foundation
99 Water St., 9th Fl.
New York, NY 10005