Einhorn Collaborative

Einhorn Collaborative argues that ongoing and historical systemic racism in America is a determining factor in its funding decision. It uses identity politics as a basis for program goals, including establishing equity standards. ²

Background

Einhorn Collaborative is a private grant making foundation established in 2002 by David Einhorn and his wife Cheryl Einhorn. ¹ David Einhorn founded Greenlight Capital in 1996 and his wife, Cheryl, is said to have chosen the company’s name. As of 2020, the couple’s net worth was estimated to be $1.5 billion when it was revealed they had “separated.” ^{3 4} Einhorn Collaborative was originally named Einhorn Family Charitable Trust but announced a “rebranding” in 2020 and changed its name to Einhorn Collaborative. ⁵

On the foundation’s 2018 tax returns, it was announced that Cheryl Einhorn had stepped down as the only trustee other than David Einhorn and that David would decide on her replacement. ⁶

Einhorn Collaborative claims that it only gives grants to organizations that “align” with its mission and does not advertise any requirements for grants. ⁷ Its grantees include a variety of colleges and left-leaning nonprofit organizations such as the Anti-Defamation League, American Civil Liberties Union Foundation, Everytown for Gun Safety Support, and the Sandy Hook Promise Foundation. ⁸

Activities

In 2015, Einhorn Collaborative donated $50 million to Cornell University so it could launch a Community-Engaged Learning program for students to develop practical skills outside of classrooms while solving problems in their local communities. In 2021, using funding from the original $50 million donation, Cornell University launched its David M. Einhorn Center for Community Engagement and announced that it would emphasize volunteer work within its activities. ⁹

In a 2017 review of Einhorn Collaborative’s grant making, it was reported that the foundation had an average of 45 grantees a year and an average grant size of $3 million, with the majority of its grants under $1 million. The report clarified that the data regarding the average grant size is “misleading” because some grantees are receiving funding for starting a new project and some are receiving regular grants that can add up to tens of millions of dollars spanning over several years. ⁷

In January 2022, Einhorn Collaborative announced that it had joined several other organizations to create the New Pluralists. ² The New Pluralists, a group of donors, uses identity politics to make “investments” that address so-called historic and ongoing racism and genocide of ethnic minorities in America. As of May 2022, it had yet to specify what those investments would be. ¹⁰

Financials

According to Einhorn Collaborative’s 2019 tax returns, it received $122,000 in contributions, all from David Einhorn. ¹¹ It also reported a total revenue of $973,000, $728,000 of which came from interest on its cash savings. ¹² At the beginning of 2019, Einhorn Collaborative reported $51 million in net assets. ¹³

In 2019, Einhorn Collaborative spent $2 million on salaries and compensation of its employees, directors, and other officials as part of a total $3.7 million on operating expenses and distributed $14.2 million in grants. ¹⁴