OVERVIEW: The Leon and Toby Cooperman Family Foundation typically prioritizes New York organizations and those in New Jersey.
IP TAKE: The Coopermans give big to a few institutions, especially in education and health. The foundation does not maintain a website or provide guidelines for grantseekers.
PROFILE: Founded in 1981,the Leon and Toby Cooperman Family Foundation was founded by Leon G. Cooperman, founder and chairman of the hedge fund firm Omega Advisors. The son of a plumber, Cooperman attended public schools in Bronx before being accepted at Columbia Business School and working for Goldman Sachs after graduating. He worked at Goldman Sachs for 25 years before founding Omega Advisors. Unfortunately, the funder prefers to maintain a low public profile, does not maintain a website, and provides no clear way of contacting it. The foundation held over $263 million in assets in a past year and gave away almost $15 million. Tax filings suggest it prioritizes education, health, performing arts, and Jewish causes.
Grants for Higher Education
The foundation prioritizes grantmaking for higher education. Hunter College, the Coopermans’ alma mater, receives funding each year including grants toward the Leon and Toby Cooperman Library and the establishment of a scholarship fund. Cooperman also supports Columbia Business School. In 1995, the foundation endowed the Leon Cooperman Professorship of Finance and Economics at Columbia.
Grants for K-12 Education
With regard to K-12 education, the foundation has funded organizations like Harlem Children’s Zone, Harlem Village Academies, and Prep for Prep. It has also funded ECLC, a school for the learning disabled in Chatham, N.J.
Grants for Public Health and Access
The foundation also supports health organizations, including several in the New York area. Leon Cooperman serves as vice chairman of the board at the Damon Runyon Cancer Research Foundation, a past grantee. The goal of Damon Runyon is to find “early career scientists in cancer research” and facilitate bold and innovative thinking. Other past grantees include the Bachmann-Strauss Dystonia & Parkinson Foundation, the Lymphoma Research Foundation, Crohn’s & Colitis Foundation of America, Lenox Hill Hospital, and NYU Medical Center. In 2019, Cooperman gave $25 million to Boca Raton Regional Hospital Foundation, and in 2021, the foundation pledged $100 million to the Saint Barnabas Medical Center to rename it the Cooperman Barnabas Medical Center. The foundation also gave $13.3 million in 2023 to Jespy House in South Orange, N.J. to establish the Cooperman Family Campus.
Grants for Jewish Causes
The foundation also funds Jewish causes and has given to United Jewish Appeal and other organizations, including $2 million to Ruth and Norman Rales Jewish Family Services in 2021.
Other Grantmaking Areas
In 2019, it gave $20 million to New Jersey Performing Arts Center. The foundation also gives to the Robin Hood Foundation. In 2023, it pledged $5 million to Songs of Love, and, as Leon Cooperman told IP in an interview, he “has been so moved by this charity that he even plans to leave it a bequest.”
Important Grant Details
Grants typically range from just a few thousand to $500,000, and the foundation does not appear to accept LOIs. It does not maintain a website. It does not accept unsolicited proposals or requests for funding.
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CONTACT:
The Leon and Toby Cooperman Family Foundation
P.O. Box 2369
Clifton, NJ 07015
Telephone: (973) 778-8885
