Non-profit

Einhorn Collaborative

Website:

einhorncollaborative.org/

Location:

New York, NY

Tax ID:

22-6921358

Tax-Exempt Status:

501(c)(3)-PF

Budget (2015):

Revenue: $31,517,947
Expenses: $43,530,936
Assets: $1,748,289

Type:

Private Grantmaker

Founder:

David Einhorn

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Einhorn Collaborative (formerly Einhorn Family Charitable Trust) is a private foundation created by Greenlight Capital founder David Einhorn and his wife Cheryl Einhorn. It makes grants to colleges and left-leaning nonprofit organizations. 1

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. 3 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.” 4 5 Einhorn Collaborative was originally named Einhorn Family Charitable Trust but announced a “rebranding” in 2020 and changed its name to Einhorn Collaborative. 6

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. 7

Einhorn Collaborative claims that it only gives grants to organizations that “align” with its mission and does not advertise any requirements for grants. 8 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. 9

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. 10

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. 11

In January 2022, Einhorn Collaborative announced that it had joined several other organizations to create the New Pluralists. 12 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. 13

Financials

According to Einhorn Collaborative’s 2019 tax returns, it received $122,000 in contributions, all from David Einhorn. 14 It also reported a total revenue of $973,000, $728,000 of which came from interest on its cash savings. 15 At the beginning of 2019, Einhorn Collaborative reported $51 million in net assets. 16

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. 17

References

  1. “Einhorn Family Charitable Trust.” Inside Philanthropy. Accessed May 9, 2022. https://www.insidephilanthropy.com/grants/einhornfamilycharitabletrust.
  2. “Centering Field Leaders in Field Building.” Einhorn Collaborative. January 20, 2022. https://einhorncollaborative.org/centering-field-leaders-in-field-building/.
  3. “Einhorn Family Charitable Trust.” Inside Philanthropy. Accessed May 9, 2022. https://www.insidephilanthropy.com/grants/einhornfamilycharitabletrust.
  4. Reiff, David. “David Einhorn is the Latest Hedge Fund Leader to Face Divorce.” Investopedia. June 25, 2019. https://www.investopedia.com/news/david-einhorn-latest-hedge-fund-leader-face-divorce/
  5. “David Einhorn ‘Separates from Wife.’” Daily Mail. February 24, 2017. https://www.dailymail.co.uk/news/article-4253518/Hedge-fund-billionaire-David-Einhorn-separates-wife.html.
  6. “Work: Einhorn Collaborative.” BBMG. December 8, 2021. https://bbmg.com/work/einhorncollaborative/.
  7. Einhorn Family Charitable Trust. Return of a Private Foundation (Form 990-PF). 2018. Part VII-A, Line 3.
  8. “A Better-Angels Funder Practices What It Preaches.” Leap of Reason Ambassadors Community. 2017. https://www.ncfp.org/wp-content/uploads/2018/11/A-Profile-of-the-Einhorn-Family-Charitable-Trust-Leap-of-Reason-Ambassadors-Community-2017-a-profile-of-the-einhorn-family-charitable-trust.pdf
  9. Einhorn Family Charitable Trust. Return of a Private Foundation (Form 990-PF). 2017. Attachment 12.
  10. Copman, Linda. “The Power to Change the World – Alumni, Parents, and Friends: Cornell University.” Cornell University. October 27, 2021. https://alumni.cornell.edu/article/the-power-to-change-the-world/.
  11. “A Better-Angels Funder Practices What It Preaches.” Leap of Reason Ambassadors Community. 2017. https://www.ncfp.org/wp-content/uploads/2018/11/A-Profile-of-the-Einhorn-Family-Charitable-Trust-Leap-of-Reason-Ambassadors-Community-2017-a-profile-of-the-einhorn-family-charitable-trust.pdf
  12. “Centering Field Leaders in Field Building.” Einhorn Collaborative. January 20, 2022. https://einhorncollaborative.org/centering-field-leaders-in-field-building/.
  13. “Approach.” New Pluralists. Accessed May 9, 2022. https://newpluralists.org/approach/.
  14. Einhorn Family Charitable Trust. Return of Organization Exempt from Income Tax (Form 990-PF). 2019. Schedule B, Part I.
  15. Einhorn Family Charitable Trust. Return of Organization Exempt from Income Tax (Form 990-PF). 2019. Part I, Lines 3-12.
  16. Einhorn Family Charitable Trust. Return of Organization Exempt from Income Tax (Form 990-PF). 2019. Part II, Line 30.
  17. [1] Einhorn Family Charitable Trust. Return of Organization Exempt from Income Tax (Form 990-PF). 2019. Part I, Lines 13-26
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Nonprofit Information

  • Accounting Period: December - November
  • Tax Exemption Received: June 1, 2002

  • Available Filings

    Period Form Type Total revenue Total functional expenses Total assets (EOY) Total liabilities (EOY) Unrelated business income? Total contributions Program service revenue Investment income Comp. of current officers, directors, etc. Form 990
    2015 Dec Form PF $31,517,947 $43,530,936 $1,748,289 $0 $0 $0 $0 $0 PDF
    2014 Dec Form PF $45,071,491 $32,189,750 $13,761,278 $0 $0 $0 $0 $0 PDF
    2013 Dec Form PF $24,511,574 $30,140,925 $879,537 $1 $0 $0 $0 $0 PDF
    2012 Dec Form PF $31,358,765 $26,161,878 $6,508,888 $1 $0 $0 $0 $0 PDF
    2011 Dec Form PF $16,506,360 $15,802,604 $1,208,870 $0 $0 $0 $0 $0 PDF

    Additional Filings (PDFs)

    Einhorn Collaborative


    New York, NY