The Marty and Dorothy Silverman Foundation is a private grantmaking foundation established by the late entrepreneur Morris “Marty” Silverman. The foundation disburses grants to academic, Jewish, and veterans causes, along with programs for children and the elderly. 1 It is also a multi-million-dollar donor to the Albany Medical Center Foundation,2 3 4 and was the founding sponsor of the Albany Medical Center Prize. 5
Left-of-center advocacy organizations are also a major recipient of funding and accounted for more than $4.5 million of donations given by the foundation during the grant year ending July 2019. Examples included EarthJustice, the Natural Resource Defense Council, Citizens for Responsibility and Ethics in Washington (CREW), the Planned Parenthood Federation of America, the Voter Participation Center, and People for the American Way. 6
History and Leadership
Marty Silverman was the founder of National Equipment Rental and sold the leasing firm in 1984. In 1987 he used $40 million from the proceeds of the sale to start the Marty and Dorothy Silverman Foundation. Dorothy, his wife, passed away in 1985. 1
The foundation’s education-related activities date back to at least 2000, when Silverman established the Albany Medical Center Prize with a $50 million commitment to award a $500,000 prize annually for 100 years. This prize remains one of the largest in the U.S. medical and scientific community. 5
Marty Silverman died in 2006. 1 As of the tax reporting period that concluded July 2019, two of his children were leading the foundation and contributing to it financially. Lorin Silverman was the board chairman and contributed $260,088. Patty Lipshutz was the vice president and contributed $195,524. Allison Silverman and Seth Silverman were also listed as directors on the board. 7 6
Grantmaking Activity
For the reporting period ending July 2019, the Marty and Dorothy Silverman Foundation reported net assets of $457.9 million, revenues of $28,134,032, and $15,231,543 disbursed as contributions, gifts, and grants paid. 6
The foundation disburses grants to academic, Jewish, and veterans causes, along with programs for children and the elderly. 1 Since the July 2015 tax reporting period, the foundation has disbursed at least $7.5 million to the Albany Medical Center Foundation. 2 3 4 Examples of other recipients have included the New York State Military Museum and Veterans Research Center, a Holocaust museum in Houston, and housing in Israel for former Soviet Jews. 8
Left-of-center advocacy organizations are also a major recipient of funding. More than 30 left-leaning and left-of-center organizations received at least $4.5 million of the $15.2 million given during the grant year ending July 2019. 6
Planned Parenthood and Abortion
The Marty and Dorothy Silverman Foundation disbursed several large grants to Planned Parenthood and other groups with a focus on abortion advocacy and provision during the reporting period ending July 2019. 10
- EarthJustice: $500,000
- Natural Resource Defense Council: $300,000
- Forest Service Employees for Environmental Ethics: $172,500
- Southern Environmental Law Center: $125,000
- Center for Biological Diversity: $100,000
- Food and Water Watch: $100,000
- Union of Concerned Scientists: $100,000
- Friends of the Earth: $50,000
- Greenpeace Fund: $25,000
- Grist Magazine: $25,000
- Society of Environmental Journalists: $22,000
- org: $20,000
- Environmental Working Group: $10,000
- Pesticide Action Network: $10,000
- Rainforest Action Network: $8,000
Additional Left-Leaning Donations
In addition to grants made to advocates of abortion and left-leaning environmentalism, more than a dozen additional left-of-center organizations received funding during the reporting period ending July 2019. 11 12
According to tax filings for the year ending March 2019, FJC held net assets of $261.9 million and issued more than $38 million in grants, primarily to medical and Jewish-related charities. The left-of-center Tides Center also received $300,000 during the reporting year. 13
The tax filing ending March 2019 also stated that the Marty and Doris Silverman Foundation pledged a securities collateral to FJC: 14
Lorin Silverman, is a director and president of the Marty and Doris Silverman Foundation, which has pledged to FJC a security investment in securities to be used as collateral for the repayment of principal amounts in the event of any default of FJC’s agency loan fund receivables. This agreement remained in effect until October 1, 2020, and is renewable by mutual consent. As of March 31, 2019, the fair value of the collateral held as a security under the pledge agreement was $31,462,269.
References
- “Morris Silverman, 93, Who Established Richest U.S. Medical Prize, Dies.” New York Times. January 28, 2006. Accessed via Web Archive. February 5, 2021. http://web.archive.org/web/20180616204227/https://www.nytimes.com/2006/01/28/nyregion/morris-silverman-93-who-established-richest-us-medical-prize-dies.html
- Marty and Dorothy Silverman Foundation, Return of a Private Foundation (Form 990-PF), 2015, Part I Line 25; Part XV Line 3a. https://pp-990.s3.amazonaws.com/2016_10_PF/22-2777449_990PF_201607.pdf?response-content-disposition=inline&X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIA266MJEJYTM5WAG5Y%2F20210206%2Fus-east-1%2Fs3%2Faws4_request&X-Amz-Date=20210206T215447Z&X-Amz-Expires=1800&X-Amz-SignedHeaders=host&X-Amz-Signature=f8ea37d22519b18351324ce12a854be65f853f6ce4b3449d691a50b15f2bc8b5
- Marty and Dorothy Silverman Foundation, Return of a Private Foundation (Form 990-PF), 2018. Accessed February 11, 2021. https://projects.propublica.org/nonprofits/display_990/222777449/02_2020_prefixes_20-22%2F222777449_201907_990PF_2020022017165536.
- Marty and Dorothy Silverman Foundation, Return of a Private Foundation (Form 990-PF), 2014. Accessed February 11, 2021. https://projects.propublica.org/nonprofits/display_990/222777449/2016_02_PF%2F22-2777449_990PF_201507
- Rogers, Megan. “Medical researchers win $500K Albany Medical Center prize.” Albany Business Review. April 20, 2015. Accessed via Web Archive. February 5, 2021. http://web.archive.org/web/20150423100511/https://www.bizjournals.com/albany/blog/health-care/2015/04/medical-researchers-awarded-500k-in-albany-medical.html.
- Marty and Dorothy Silverman Foundation, Return of a Private Foundation (Form 990-PF), 2018. https://projects.propublica.org/nonprofits/display_990/222777449/02_2020_prefixes_20-22%2F222777449_201907_990PF_2020022017165536.
- “Paid Notice: Deaths SILVERMAN, MARTY.” New York Times. January 29, 2006. Accessed February 11, 2021. https://www.nytimes.com/2006/01/29/classified/paid-notice-deaths-silverman-marty.html
- Virtanen, Michael. “Philanthropist Morris Silverman dies at 93.” MyPlainview. January 26, 2006. Accessed via Web Archive. February 5, 2021. http://web.archive.org/web/20210205141723/https://www.myplainview.com/news/article/Philanthropist-Morris-Silverman-dies-at-93-8514148.php.
- Marty and Dorothy Silverman Foundation, Return of a Private Foundation (Form 990-PF), 2018. https://projects.propublica.org/nonprofits/display_990/222777449/02_2020_prefixes_20-22%2F222777449_201907_990PF_2020022017165536.[/note]
- Planned Parenthood Federation of America: $450,000
- Planned Parenthood of New York City: $100,000
- Center for Reproductive Rights: $35,000
- Reproductive Health Access Project: $35,000
- Planned Parenthood of Southern New England: $10,000
Left-leaning Environmentalist Advocacy
The foundation made donations to several left-of-center environmentalist organizations during the reporting period ending July 2019. 9Marty and Dorothy Silverman Foundation, Return of a Private Foundation (Form 990-PF), 2018. https://projects.propublica.org/nonprofits/display_990/222777449/02_2020_prefixes_20-22%2F222777449_201907_990PF_2020022017165536.
- Marty and Dorothy Silverman Foundation, Return of a Private Foundation (Form 990-PF), 2018. https://projects.propublica.org/nonprofits/display_990/222777449/02_2020_prefixes_20-22%2F222777449_201907_990PF_2020022017165536.[/note]
- Doctors Without Borders: $536,000
- Citizens for Responsibility and Ethics in Washington (CREW): $275,000
- People for the American Way: $250,000
- Brooklyn Community Bail Fund: $250,000
- Human Rights First: $187,000
- Oxfam America: $127,000
- Voter Participation Center: $125,000
- Equal Justice Works: $124,000
- Vera Institute of Justice: $120,000
- League of Women Voters Education Fund (LWEF): $100,000
- Brennan Center for Justice: $90,000
- Common Cause Education Fund: $65,000
- New Economy Project: $58,000
- New York Immigration Coalition: $50,000
- New York Public Interest Research Group (NYPIRG): $35,000
- Mother Jones: $25,000
- Nonprofit VOTE: $10,000
- Spread the Vote: $10,000
Related Organizations
In 1995, Marty Silverman founded FJC, A Foundation of Philanthropic Funds. This organization is a non-profit foundation of donor advised funds. Lorin Silverman, the President of the Marty and Doris Silverman Foundation, also serves as the president of FJC. 9“Our Approach.” FJC.org. Accessed February 4, 2020. https://fjc.org/about/
- “Lorin Silverman.” Bloomberg Profile. Accessed February 5, 2021. https://www.bloomberg.com/profile/person/17601621.
- FJC, Return of Organization Exempt from Income Tax (Form 990), 2018, Schedule I, Part II. https://fjc.org/wp-content/uploads/2020/12/2018-990-FYE-3-31-2019-External-3.pdf.
- FJC, Return of Organization Exempt from Income Tax (Form 990), 2018, Part IV, Section A, Line 2. https://fjc.org/wp-content/uploads/2020/12/2018-990-FYE-3-31-2019-External-3.pdf.