Dalio Philanthropies

OVERVIEW: Dalio Philanthropies’ grantmaking includes education, ocean protection and exploration, economic empowerment, China programs, health & wellness, and arts & community.  

IP TAKE: With over $4 billion in assets and $6 billion in grantmaking since it was established, Dalio Philanthropies is a major funder in its areas of giving, particularly K-12 education, economic empowerment, and ocean protection. Dalio is particularly active in the New York City area and Connecticut, but also funds at the national and international levels. In addition to typical grantmaking, Dalio uses its assets to operate its own signature initiatives and nonprofits, including Dalio Education, Endless, and OceanX. Inside Philanthropy reporter Philip Rojc recently commented that Dalio supports an “eclectic mix of causes,” and while Ray Dalio himself is a reformer who has been critical of American capitalism, the family’s overarching beliefs and approach can be “a bit hard to pin down.” It’s crystal clear, however, that Dalio Philanthropies has ramped up its giving exponentially over the years, and is a power player in the philanthrosphere.

This funder is not accessible for grantseekers. Its website states, “we do not accept unsolicited proposals or donation requests, and such solicitations will not be considered by the Board.” Despite its significant assets, Dalio Philanthropies remains a small, mostly family-run organization, and the website is sparse on detail compared to similar philanthropies. It doesn’t have a grants database, and only select grantees and partners are referenced. Dalio Philanthropies isn’t overly transparent about its financials and operations, though a deep dive into the Dalio Family Fund’s 990s shows a list of grantees. Overall, Dalio is not a likely source of funding for grantseekers, and it will be hard to get through the door here without deep networking. That said, Dalio is an inclusive funder that can give big and continues to expand its footprint.

PROFILE: Based in Westport, Connecticut, the Dalio Philanthropies was founded in 2003 by Giving Pledge signatories Ray Dalio and his wife, Barbara. This umbrella vehicle for giving includes the Dalio Family Fund, a 501(c)(4) established in 2019, and the Dalio Foundation, a 501(c)(3) established in 2003.

Ray Dalio was born in Queens. He studied at Long Island University and earned an MBA from Harvard Business School. In 1975, he founded Bridgewater Associates, a global macro hedge fund which has become one of the largest and most successful funds in the world. Barbara Dalio is from Spain and once worked at the Whitney Museum. She is passionate about improving public K-12 education, especially in her home state of Connecticut. 

The couple conducts grantmaking through both Dalio Philanthropies and personal donations. Because Dalio Philanthropies reflects the “diverse philanthropic aspirations of the Dalio family,” its efforts are wide-ranging “rather than single-mission focused.”

The Dalio family conducts work through a variety of operating programs that are related to the larger Dalio Philanthropies umbrella that include, but are not limited to: the Dalio Education, Endless Network, OceanX, as well as the Beijing Dalio Foundation. These organizations appear to be impact multipliers, while only some make grants; however, this could evolve. That said, the Dalio Foundation’s focus areas include education, ocean exploration and awareness, health inequities and mental health, financial inclusion and social entrepreneurship, community and the arts, as well as children’s wellbeing in China. 

Grants for Education

Education, one of Dalio’s largest areas of giving, is dedicated to “unlocking access for all.” The family also gives to education through a variety of vehicles affiliated with Dalio Philanthropies. The Dalio Foundation itself has a dedicated Education focus area with extensive collaborations and interests. Dalio includes funding for education through both Dalio Education and Investing in Technology Access and Education. Each have initiatives of their own.

Overall, Dalio Education’s approach is grounded in direct engagement with public school communities — teachers, administrators, and students — and the leaders of local non-profits. Dalio’s education funding ultimately serves to “level the playing field” for underserved students by increasing educational opportunity, instructional quality and teacher knowledge.

Grants for K-12 Education

Dalio Philanthropies’ prioritizes its K-12 education grantmaking over other areas of giving. The Dalio Education program is steered by Barbara Dalio, who is a long-time education volunteer with a holistic and hands-on approach. Dalio works in teacher development, school-based counseling and mental health, student achievement, high school completion and services for at-risk youth. While many grantees are Connecticut-based, organizations in neighboring states that provide teacher development services or academic interventions have also been funded. IP has previously reported on CT-based education funding.

  • A newer program, the Connecticut Opportunity Project, aims to improve high school graduation rates and college and career readiness by strengthening Connecticut’s youth-serving organizations. Other grantees include Lincoln Center Education, the Yale Center for Emotional Intelligence, the Fund for Teachers and many public school districts in the state of Connecticut. 

  • Dalio Education also founded the Connecticut RISE Network, a nonprofit organization, to facilitate “improvement networks across schools and districts to ensure students graduate with a plan and the skills and confidence to achieve college and career success.”

  • The Dalio Philanthropies also invest in K-12 education through their Technology Access and Education initiative. This program has a much broader geographic scope and supports projects that develop and implement high-quality technology and computer science education programs for underserved learners around the globe. Funding from this program has gone to organizations including World Possible and the Foundation for Learning Equality. 

  • Part of Dalio’s education funding also focuses on financial inclusion and philanthropic education, which both occur through Dalio Philanthropies and the Beijing Dalio Foundation — Dalio Philanthropies’ philanthropic organization in China. In 2020, Dalio Philanthropies established the Dalio Market Principles Program at the Wealth Management Institute in Singapore.

Grants for STEM Education

Dalio grants take a broad, global focus to STEM education. STEM related funding occurs through the Technology Access and Education program, which aims for broad “societal benefits” through inclusive technology and computer science education programs. Past grantees include World Possible, Khan Acadamy, Girls Who Code and the X Prize Foundation. 

Additionally, Dalio is a member of the Endless Network, “a global network of organizations dedicated to unlocking human potential through technology,” which focuses on digital equity.

Grants for Higher Education

The Dalio Philanthropies do not outline specific goals for higher education funding, but tax filings suggest a strong commitment to teacher education, clinical psychology, technology programs and marine science.

The Dalio Foundation’s signature OceanX program has organized collaborations with researchers at leading universities in its effort to create “compelling content that captures the excitement and importance of ocean exploration and engages audiences worldwide.” Other past higher education grantees include Harvard University, Stanford University, Johns Hopkins University, the Woods Hole Oceanographic Institute and New York City’s Relay Graduate School of Education. 

Grants for Economic Development

Dalio Philanthropies invest in economic empowerment across several programs and initiatives around the world. This work works to develop “equal economic opportunities, enabling financial inclusion, and empowering others on their journeys to becoming self-sufficient.” Ray Dalio, who has spoken widely about financial systems and wealth management, offers more insights on his principles in an interview with Bridgewater.

  • Dalio’s work on financial inclusion and economic opportunity includes supporting social entrepreneurs and emphasizes entrepreneurship, resilience and self-sufficiency. Past grantees include New York’s Robin Hood Foundation and Grameen America, which provides financial services and education to women in poverty. 

  • Dalio is also dedicated to financial education as indicated by the Dalio Market Principles Program at the Wealth Management Institute in Singapore. The Program aims to teach universal principles of market behavior to both private and public sector leaders and investors.

Grants for Health and Disease

The Dalio Philanthropies invest significantly in health via their Health and Wellness program. Areas of specific interest include health equity, prenatal health, nutrition, research and treatment of bipolar disorder, health equity, meditation and cardiovascular disease research. This area of grantmaking is largely limited to the U.S. 

Grants for Mental Health

In recent years, Dalio’s mental health funding has focused on bipolar disorder and mediation’s role in maintaining mental health. In the area of bipolar disorder, grants prioritize innovative programs that seek to “reframe the narrative surrounding mental health” and support research, clinical training, public education, and patient care for bipolar disorder at Johns Hopkins University and the Broad Institute.

Dalio also support organizations and projects that provide meditation training to populations who are at high risk for mental illnesses due to stress and anxiety, including inner-city students and veterans. Past grantees include the David Lynch Foundation for Consciousness-Based Education and World Peace and the World Community for Christian Mediation. 

Grants for Public Health and Health Equity

In 2020, Dalio also established the Dalio Center for Health Justice at New York-Presbyterian Hospital, launched in October 2020 through a $50 million donation from Dalio Philanthropies, aims to understand and address the root causes of health inequities with the goal of setting a new standard of health justice for the communities it serves.

Dalio supports communities’ access to healthy nutrition, which includes an investment in prenatal nutrition and health. Dalio has partnered with the Fair Food Network, as well as Vitamin Angels, which is a global public health organization that “distributes life-changing vitamins and minerals to at-risk mothers, and children under five years of age in both the U.S. and around the world.”

Overall, Dalio Philanthropies appears to be expanding its work in the public health sphere. In 2021, Dalio, in collaboration with Weill Cornell Medicine and Columbia Vagelos College of Physicians and Surgeons, launched a research grant program to support research to reduce health inequity. Other areas of interest have included the reduction of barriers to care, vaccine awareness programs and the launch of the Black Liver Health Initiative, a website that addresses and educates about discrepancies in liver health among people of color.

Grants for Disease Research

Dalio’s disease research has supported research, diagnostics and the development of medical devices in the field of cardiovascular disease. New York Presbyterian Hospital is the home of the Dalio Institute for Cardiovascular Imaging, which receives ongoing support from the philanthropies. To a lesser extent, this funder has demonstrated interest in the past in infectious diseases, diseases of the digestive system and memory disorders including Alzheimer’s dementia. Past grantees include Johns Hopkins University and the National Philanthropic Trust’s Fund for Infectious Diseases. 

Grants for Marine Conservation and Science Research

The Dalio Philanthropies support marine conservation via the OceanX operating program. OceanX supports ocean exploration and research, as well the creation of compelling media to raise public awareness about marine conservation and the fragility of ocean ecosystems. In this vein, Dalio has partnered with the Ocean Alliance and Project CETI.

  • In addition to supporting research at leading universities and institutes, OceanX owns and operates the OceanXplorer, a research vessel that boasts “manned submersibles, helicopters, advanced wet and dry labs, and the latest media and editing equipment.”

  • OceanX Media is the arm of the program that creates and disseminates films, exhibits, virtual reality and other media for dissemination to the public. Grantees and partners of this program have included the Woods Hole Oceanographic Institution, the American Museum of Natural History, California Academy of Sciences, Yale University and PBS/Nova. 

  • As part of its stated commitment to equity, Dalio also invests in work that expands the opportunities of BIPOC people to “become ocean explorers and problem solvers, Dalio Philanthropies is proud to support organizations such as Black in Marine Science and the Center for Diverse Leadership in Science at UCLA.”

  • Additionally, Dalios’ marine educational work includes OceanX’s Young Explorers program, an ocean science and media program for college students from diverse backgrounds on board the OceanXplorer.

Grants for Global Development

The majority of Dalio’s global development funding stems from Dalio Philanthropies’ Economic Empowerment program. While the economic empowerment program operates mainly in the U.S., it has supported some global programs that aim to increase financial security of underserved and low-income populations.

  • One example is Accion Frontier Investments, which aims to bring transparent and reliable financial services to people in emerging economies for personal and commercial use.

  • The Dalios established the Beijing Dalio China Foundation in 2013 to fund education and child welfare programs in China. They became interested in China through their son Matt’s philanthropy, the former China Care Foundation, which worked to improve the lives of disabled orphans. The Dalio Philanthropies have continued Matt’s work, supporting special education and health services for children in China, and have branched out to support philanthropic capacity building, as well.

  • Past grantees in China include the Dandelion School, the Beijing Rong Ai Rong Le Parents Organization of Persons with Intellectual Disabilities and the China Development Research Foundation. 

Grants for Arts and Culture

Dalio’s Arts Community and the Arts initiative configures the arts as central to the building of healthy communities. It supports a “number of organizations aimed at deepening community around the arts, music, and culture.”

  • This initiative prioritizes the Northeast and supports a broad variety of arts education, community arts and landmark cultural institutions, as well as some outdoor spaces and recreational causes.

  • Jazz music is a particular interest here.

  • Dalio Philanthropies also supports a number of museums and cultural centers that create opportunities for exploration and appreciation of the arts.

  • Dalio Philanthropies has also funded projects related to parks, historical societies, and libraries, which according to Dalio Philanthropies, all “offer opportunities for gathering and community building.”

  • Past grantees include the Greenwich Historical Society, Bruce and Byram Parks, the Prospector Foundation, Jazz at Lincoln Center and the Whitney Museum of American Art. 

COVID-19 Response

During the COVID-19 crisis, the Dalio Philanthropies pledged over $7 million in rapid-response funding for the New York and Connecticut areas. At least $4 million was given to agencies and organizations coordinating medical care and food for those hardest hit by the crisis, and another $3 million awarded to the Capitol Region Education Council, which provided emergency childcare services for healthcare workers at multiple locations in the state of New York.

Important Grant Details:

The Dalio Philanthropies give away over $100 million a year. Grants are awarded in amounts exceeding $10 million, but the average grant size is about $200,000. This funder offers general operating support and program support through cash grants and program-related investments.

  • While this funder works with many large and well-established organizations, smaller nonprofits in Connecticut, New York, California, Massachusetts, North Carolina, Washington D.C. and Florida have also received support. Dalio Philanthropies has also given across the globe to work that supports projects in Bulgaria, Cuba, China, Haiti and India, among other places.

  • For additional information about past grantmaking visit the philanthropies’ individual issue pages

  • Grantmaking related to students, children, youth and low-income individuals tend to be prioritized.

This funder initiates all grantmaking internally and does not accept unsolicited proposals. General inquiries may be directed to the philanthropies’ staff via email or telephone at 203-291-5000. 

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