J M Kaplan Fund Inc

Overview

The J M Kaplan Fund Inc is a U.S. nonprofit organization established in 1945 by Jacob Merrill Kaplan and his wife, Alice Manheim Kaplan. The foundation has evolved over three generations and is currently led by the fourth generation, known as the Concord Group. It specializes in transformative social, environmental, and cultural initiatives through innovative grant-making practices.

History and Background

The organization was initially established in 1945. In 1948, it was incorporated in New York as the Faigel Leah Foundation, Inc., and later merged with The J.M. Kaplan Fund in 1975, leading to a significant increase in assets. The organization bears the name of its founder, Jacob Merrill Kaplan, who was a prominent figure in various business ventures, including the Dunbar Molasses Corp. and the Hearn's Department Store chain.

Mission and Focus

The J M Kaplan Fund focuses primarily on three core areas:

• Environment: Supporting initiatives that preserve and enhance natural resources.
• Heritage Conservation: Fostering efforts to conserve historical sites and cultural heritage.
• Human Migrations: Addressing issues related to migration and its social implications.

Grant Programs

The fund offers grants and program-related investments to encourage innovative ventures. The fund operates on an invitation-only basis, except for its J.M.K. Innovation Prize. This prize was launched in 2015 to provide early-stage funding for entrepreneurs addressing modern social challenges.

Financial Status

As of 2023, the total assets of the J M Kaplan Fund Inc were valued at approximately $140 million, with annual revenues and expenses reflecting its commitment to charitable disbursements. The organization does not accept contributions from public donors.

Governance

The organization is family-led, reflecting the interests of the Kaplan family members. It is governed by a trustee-initiated grants program, allowing trustees to invite grant requests from selected organizations.