CRI Foundation
The CRI Foundation, formerly Child Relief International, is an international development-focused grantmaking organization focused on Africa. In addition to providing funding for organizations working in Africa, it also funds research through grants to students and researchers. The organization was founded by economist and investment fund manager Andrew Weiss and his wife Bonnie. In 2019, Abhijit Banerjee, Esther Duflo, and Michael Kremer, the co-winners of the Nobel Prize in Economics, contributed their prize money to the foundation to fund researchers. 1 2 3 4
Contents
Founding and History
The CRI Foundation was founded in 2006 as the Child Relief International Foundation by economist and investment fund manager Andrew Weiss. In 2020, the foundation was changed from a trust to a nonprofit corporation and renamed as the CRI Foundation. In 2019, the three winners of the Nobel Prize in Economics donated their prize money to the foundation, specifically its Weiss Fund for Research in Development Economics. 2 1 5
Finances
For 2023, CRI International reported $23,065,892 in revenue, of which $21,400,000 stemmed from contributions and grants, $116,798 from interest, $169,551 from dividends, and $188,527 from the sale of assets. It had $4,534,830 in expenses, of which $191,923 went to the compensation of officers and directors, $653,844 for employee salaries, with an additional $130,226 in employee benefits. It spent $2,722,256 on contributions and grants. It ended the year with a net income of $18,531,062 and net assets of $134,803,626. 6
Organization Philosophy
The CRI Foundation funds both early-stage start-up organizations and already established ones working in international development in Africa. It emphasizes establishing clear metrics of success that can be projected in advance. 3
Projects and Initiatives
The CRI Foundation primarily provides grants in two categories. It provides grants to organizations working to improve health outcomes in Africa, and funds academic health research related to development economics. Funding for research is provided via the foundation’s Weiss Fund for Research in Development Economics, which provides grants to graduate students, junior faculty, and post-doctoral students working to alleviate suffering through development economics. The 2019 co-recipients of the Nobel Prize in Economics, Abhijit Banerjee, Esther Duflo, and Michael Kremer, contributed their prize money to this fund. 2 7
The foundation also funds the Kabir Banerjee Predoctoral Fellowship, which funds and places economists in training from low- and middle-income countries at top schools with highly regarded developmental economist mentors. 2
CRI is listed as a major co-funder by Dietel Pickering and Partners, the left-of-center for-profit philanthropic advisory firm. 8
Leadership
Andrew Weiss co-founded the CRI Foundation in 2006 with his wife Bonnie. Weiss is a Ph.D. economist trained at Stanford University who taught at Columbia University and Boston University. He was a co-author with left-wing Nobel Prize-winning economist Joseph Stiglitz. Weiss is also the founder of the successful investment fund, Weiss Asset Management. 9
Kara Weiss is the program director at the CRI Foundation and the daughter of co-founders Andrew and Bonnie Weiss. She began the role in September of 2018. 10
Financial Statistics
Total Assets
Total Revenue
Total Expenses
Expenses Detail
Employee Compensation
Highest Earning Employees
Grant Activity
All-time grants given statistics from Candid dataset:
- Total Grant Value: $18,915,567
- Number of Grants: 82
- Number of Recipients: 46
Selection of highest value grants given from the last seven years: