OVERVIEW: The Rowan Family Foundation is the philanthropic vehicle of private equity billionaire Marc Rowan and his wife Carolyn. New York City grantmaking involves education, Jewish causes, health, and more.
FUNDING AREAS: Education, Jewish Causes, Health, Human Services
IP TAKE: The Rowans have increased their giving in recent years, giving close to $9 million through their foundation in recent years. Unfortunately, the foundation doesn't have much of a web presence or a clear way to get in touch.
PROFILE: Billionaire Marc Rowan graduated from University of Pennsylvania's Wharton School of Business with a B.S. and an M.B.A. in Finance. After school, Rowan worked at Drexel Burnham Lambert. In 1990, Rowan co-founded Apollo Global Management, which has posted assets of around $163 billion.
In a recent year, the foundation gave over $8.7 million. The years prior saw total giving at around and $6.7 million and $8.8 million. Foundation assets have been around $26 million. While Rowan has given millions to his alma mater UPenn, the foundation makes quite a few grants in New York City where the couple lives and works.
One area of the foundation's interest is education. It's given grants to Harlem Village Academies, and Say Yes to Education, with chapters throughout the northeast. It has funded Columbia Prep, Riverdale Country School, CityLax, which brings "lacrosse to NYC Public Schools and underserved communities," and NYC Foundation for Computer Science Education, a nonprofit launched in 2013 to ensure that all students in New York's public schools "have access to computer science education that will put them on a pathway to academic success and a 21st century career."
The Rowan Family Foundation has also made a number of grants to Jewish outfits in New York City and beyond. Rowan was born into a Jewish family and is on the board of Youth Renewal Fund, which was founded to improve education for all Israeli children. The foundation has supported Temple Emanu-El Nursery School, UJA-Federation of New York, and a number of Jewish congregations including Congregation Rodeph Sholom. In a past year, the foundation gave a large $1 million gift to Western Wall Heritage Foundation, with offices in New York and Jerusalem. The outfit supports the Western Wall in Jerusalem.
The Rowans also support health outfits, though no single health-related cause seems to be favored. The foundation has given grants to Mt. Sinai, including a $100,000 grant to Mt. Sinai Hospital Children's Center Foundation. It's also given money to the Michael J. Fox Foundation for Parkinson's Research.
The foundation also supports human services, and arts and culture. It's given recent funds to 92nd Street Y, WeCARE NYC, a workplace development program, New York City Police Foundation, Randall's Island Park Alliance, FDNY Foundation, Vineyard Theatre, Robin Hood Foundation, and Works & Process at the Guggenheim, among others.
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The Rowan Family Foundation does not provide a clear avenue for getting in touch with the couple, but below is an address:
Rowan Family Foundation, Inc.
927 5th Ave.
New York, NY 10021