Galaxy Gives is the New York City-based private grantmaking foundation of the Novogratz family. The foundation makes the bulk of its grants towards organizations that work in left-of-center criminal justice policy. The foundation was founded in 2017 to push for an end to cash bail in New York City, which the Novogratzes contend is unfair and targets black and brown people. ¹

The foundation has a strong left-leaning focus. In addition to its work funding left-leaning criminal justice reform organizations, it also funds what it calls democracy promotion which includes various get-out-the-vote programs for left-leaning organizations. It also funds programs and people who are committed to left-leaning ways to transform American society. ²

Overview

Galaxy Gives is the New York City-based private grantmaking foundation of the Novogratz family. The foundation makes the bulk of its giving towards organizations that work in left-of-center criminal justice policy. The Novogratz family has made the bulk of its fortune in finance and in crypto investments. ³

The foundation was founded in 2017 in order to push for an end to cash bail in New York City. The Novogratz family expressed the view that the system of cash bail was unfair to poor people and to black and brown people. ⁴ The system of cash bail was changed in 2019 with it being banned for all but the most serious offenses. The controversial cash bail changes may have contributed to an increase of crime and criminal reoffending. ⁵

Programs

The focus of Galaxy Gives is left-of-center criminal justice policy. The foundation’s main goal is to end what it calls mass incarceration. The foundation wants to shift the focus of the criminal justice system from “punishment and retribution” to “accountability and healing.” It also wants to increase funding for communities that it says has been “targeted by racism and criminalization.” ⁶

It also funds One for Democracy, a left-leaning coalition of philanthropists and CEOs who pledge to give 1% of their net worth for programs related to various get-out-the-vote activities for left-leaning organizations including voter education programs and community organizing activities in swing states across the country. One for Democracy was founded by Mike Novogratz. ⁷

The foundation also has a leadership program called the Galaxy Leader Fellowship program. The program works to develop the next generation of left-leaning leaders in the focus areas in which Galaxy Gives invests. ⁸

The organization also has an offshoot, Galaxy Labs, which funds left-leaning initiatives. ⁹

Leadership

Michael Novogratz is the founder and co-chair of the organization. He is also the founder and CEO of Galaxy Digital, an investment firm that invests in digital assets and blockchain technology. He is also the chairman of the board of the left-leaning Bail Project, which pays for the bail of tens of thousands who are in jail. Previously, he worked on Wall Street. ¹⁰

Sukey Novogratz is the other founder and co-chair of the organization. She is the wife of Mike Novogratz. ¹¹

Billy Watterson is the executive director of the organization. He previously worked for the Rhode Island Office of Innovation. He is also the board president of One for Democracy. ¹²

Finances

The organization funded several left-leaning organizations such as the Robin Hood Foundation, the prison-abolitionist organization California Coalition for Women’s Prisoners, International Refugee Assistance Project, the Ayni Institute, and the Center for Tech and Civic Life. ¹³

1. “About Us”.  Galaxy Gives. Accessed October 17, 2022. https://www.galaxygives.com/about-us.
2. “Our Investments”.  Galaxy Gives. Accessed October 17, 2022. https://www.galaxygives.com/our-investments.
3. “About Us”.  Galaxy Gives. Accessed October 17, 2022. https://www.galaxygives.com/about-us.
4. “About Us”.  Galaxy Gives. Accessed October 17, 2022. https://www.galaxygives.com/about-us.
5. Lehman, Charles Lain. “Yes, New York’S Bail Reform Has Increased Crime”. City Journal. Sept. 22, 2022 https://www.city-journal.org/new-yorks-bail-reform-has-increased-crime#:~:text=New%20data%20prove%20it.&text=On%20Wednesday%2C%20the%20New%20York,before%20lawmakers%20passed%20bail%20reform.
6. “Our Investments”.  Galaxy Gives. Accessed October 17, 2022. https://www.galaxygives.com/our-investments.
7. “Our Investments”.  Galaxy Gives. Accessed October 17, 2022. https://www.galaxygives.com/our-investments.
8. “Our Investments”.  Galaxy Gives. Accessed October 17, 2022. https://www.galaxygives.com/our-investments.
9. “Galaxy Labs”.  Galaxy Labs. Accessed October 17, 2022. https://www.galaxylabs.io/.
10.  “Mike Novogratz (He/Him)”.  Galaxy Gives. Accessed October 17, 2022. https://www.galaxygives.com/team/mike-novogratz.
11. “Sukey Novogratz (She/Her)”.  Galaxy Gives. Accessed October 17, 2022. https://www.galaxygives.com/team/sukey-novogratz.
12. “Billy Watterson (He/Him)”. Galaxy Gives. Accessed October 17, 2022. https://www.galaxygives.com/team/bill-watterson.
13. “2022 | Year Funded”.  Galaxy Gives. Accessed October 17, 2022. https://www.galaxygives.com/year-funded/2022.