OVERVIEW: The Dalio Philanthropies has assets of about $1 billion and has given away over $5 billion since it was founded in 2003. Its areas of grantmaking include education, the environment, mental health, work and opportunity and global development.
IP TAKE: This funder is particularly active in the New York City area and Connecticut. It does not accept unsolicited proposals, but organizations working in some of the foundation’s specific areas of interest may find it worthwhile to reach out to the philanthropies’ staff. That said, this is a funder that likes to look for its own grantees to fund. Nevertheless, it is an inclusive funder that can give big.
PROFILE: Based in Westport, Connecticut, the Dalio Philanthropies was founded in 2003 by Giving Pledge signatories Ray Dalio and his wife, Barbara. Ray Dalio was born in Queens. He studied at Long Island University and earned an MBA from Harvard Business School. In 1975, he founded Bridgewater Associates, a global macro hedge fund which has become one of the largest and most successful funds in the world. Dalio is said to have a net worth of over $18 billion. Barbara Dalio is from Spain and worked at the Whitney Museum prior to having children. She is passionate about improving public K-12 education, especially in her home state of Connecticut.
The couple conducts grantmaking through both the Dalio Foundation and personal donations. Areas of interest include education, ocean exploration and awareness, mental health and wellness, financial inclusion and social entrepreneurship, community and the arts and children’s wellbeing in China.
Grants for Education
Education is Dalio’s largest area of giving, with funding originating from two separate initiatives: Dalio Education and Investing in Technology Access and Education. Both programs aim to “level the playing field” for underserved students by increasing educational opportunity, instructional quality and teacher knowledge. Annual education giving is typically around $20 million.
Grants for K-12 Education
Dalio Philanthropies’ prioritizes its K-12 education grantmaking over other areas of giving. The Dalio Education program is steered by Barbara Dalio, who is a long-time education volunteer in the state. Her approach is holistic and hands-on, and the program works in teacher development, school-based counseling and mental health, student achievement, high school completion and services for at-risk youth. While most grantees are Connecticut-based, organizations in neighboring states that provide teacher development services or academic interventions have also been funded. A signature program, the Partnership for Connecticut, aimed to effect large-scale improvements for Connecticut’s lowest performing schools with injections of hundreds of millions of dollars but collapsed in 2019 on account of political differences about the project’s transparency. A newer program, the Connecticut Opportunity Project, aims to improve high school graduation rates and college and career readiness by strengthening Connecticut’s youth-serving organizations. Other grantees include Lincoln Center Education, the Yale Center for Emotional Intelligence, the Fund for Teachers and many public school districts in the state of Connecticut.
The Dalio Philanthropies also invest in K-12 education through their Technology Access and Education initiative. This program has a much broader geographic scope and supports projects that develop and implement high-quality technology and computer science education programs for underserved learners around the globe. Funding from this program has gone to organizations including World Possible and the Foundation for Learning Equality.
Grants for STEM Education
Dalio grants work extensively in STEM education with a broad, global focus. Funding from the philanthropies’ Technology Access and Education program aim for broad “societal benefits” through broadly inclusive technology and computer science education programs. Past grantees include World Possible, Girls Who Code and the X Prize Foundation.
Grants for Higher Education
The Dalio Philanthropies do not outline specific goals for higher education funding, but tax filings suggest a strong commitment to teacher education, clinical psychology, technology programs and marine science. The Dalio Foundation’s signature OceanX program has organized collaborations with researchers at leading universities in its effort to create “compelling content that captures the excitement and importance of ocean exploration and engages audiences worldwide.” Other past higher education grantees include Harvard University, Stanford University, Johns Hopkins University, the Woods Hole Oceanographic Institute and New York City’s Relay Graduate School of Education.
Grants for Health and Science
The Dalio Philanthropies invest significantly in health via their Health and Wellness program. Areas of specific interest include research and treatment of bipolar disorder, meditation and cardiovascular disease research. This area of grantmaking is largely limited to the U.S.
Grants for Mental Health
In recent years, Dalio’s mental health funding has focused on bipolar disorder and mediation’s role in maintaining mental health. In the area of bipolar disorder, grants prioritize innovative programs that seek to “reframe the narrative surrounding mental health” and support research, clinical training, public education, and patient care for bipolar disorder at Johns Hopkins University and the Broad Institute. The philanthropies also support organizations and projects that provide meditation training to populations who are at high risk for mental illnesses due to stress and anxiety, including inner-city students and veterans. Past grantees include the David Lynch Foundation for Consciousness-Based Education and World Peace and the World Community for Christian Mediation.
Grants for Public Health
Dalio Philanthropies appears to be expanding its work in the public health sphere, with grants stemming from its health and wellness initiative and focusing on health equity. In 2021, Dalio, in collaboration with Weill Cornell Medicine and Columbia Vagelos College of Physicians and Surgeons, launched a research grant program to support research to reduce health inequity. Other areas of interest have included the reduction of barriers to care, vaccine awareness programs and the launch of the Black Liver Health Initiative, a website that addresses and educates about discrepancies in liver health among people of color.
Grants for Disease Research
Dalio’s disease research mainly supports research, diagnostics and the development of medical devices in the field of cardiovascular disease. New York Presbyterian Hospital is the home of the Dalio Institute for Cardiovascular Imaging, which receives ongoing support from the philanthropies. To a lesser extent, this funder has demonstrated interest in infectious diseases, diseases of the digestive system and memory disorders including Alzheimer’s dementia. Past grantees include Johns Hopkins University and the National Philanthropic Trust’s Fund for Infectious Diseases.
Grants for Marine Conservation
The Dalio Philanthropies support marine conservation via their Ocean Exploration and Awareness Program, which mainly funds the signature OceanX program. OceanZ supports ocean exploration and research, as well the creation of compelling media to raise public awareness about marine conservation and the fragility of ocean ecosystems. In addition to supporting research at leading universities and institutes, OceanX owns and operates the OceaneXplorer, a research vessel that boasts “manned submersibles, helicopters, advanced wet and dry labs, and the latest media and editing equipment.” OceanX Media is the arm of the program that creates and disseminates films, exhibits, virtual reality and other media for dissemination to the public. Grantees and partners of this program include the Woods Hole Oceanographic Institution, the American Museum of Natural History, California Academy of Sciences, Yale University and PBS/Nova.
Grants for Global Development
Global development funding stems from Dalio Philanthropies’ Financial Inclusion and Social Entrepreneurship and Child Welfare and Capacity Building in China programs. While the financial inclusion program operates mainly in the U.S., it has supported some global programs that aim to increase financial security of underserved and low-income populations. One example is Accion Frontier Investments, which aims to bring transparent and reliable financial services to people in emerging economies for personal and commercial use. The Dalios became interested in China through their son Matt’s philanthropy, the former China Care Foundation, which worked to improve the lives of disabled orphans. The Dalio Philanthropies have continued Matt’s work, supporting special education and health services for children in China, and have branched out to support philanthropic capacity building, as well. Past grantees in China include the Dandelion School, the Beijing Rong Ai Rong Le Parents Organization of Persons with Intellectual Disabilities and the China Development Research Foundation.
Grants for Work and Opportunity
The Dalio Philanthropies invest in work and opportunity via their Financial Inclusion and Social Entrepreneurship program. The program’s goals include supporting underserved communities with opportunities to develop capacity and self-sufficiency and supporting social entrepreneurs. The program emphasizes entrepreneurship, resilience and self-sufficiency. Past grantees include New York’s Robin Hood Foundation and Grameen America, which provides financial services and education to women in poverty.
Grants for Arts and Culture
Dalio’s Arts Community and the Arts initiative configures the arts as central to the building of healthy communities. This initiative prioritizes the Northeast and supports a broad variety of arts education, community arts and landmark cultural institutions, as well as some outdoor spaces and recreational causes. Past grantees include the Greenwich Historical Society, Bruce and Byram Parks, the Prospector Foundation, Jazz at Lincoln Center and the Whitney Museum of American Art.
COVID-19 Response
With the onset of the COVID-19 crisis, the Dalio Philanthropies pledged over $7 million in rapid-response funding for the New York and Connecticut areas. At least $4 million was given to agencies and organizations coordinating medical care and food for those hardest hit by the crisis, and another $3 million awarded to the Capitol Region Education Council, which provided emergency childcare services for healthcare workers at multiple locations in the state of New York.
Important Grant Details:
The Dalio Philanthropies give away over $60 million a year. Grants are awarded in amounts up to $5 million, but the average grant size is about $50,000. While this funder works with many large and well-established organizations, smaller nonprofits in Connecticut and New York have also received support. For additional information about past grantmaking visit the philanthropies’ individual issue pages.
This funder initiates all grantmaking internally and does not accept unsolicited proposals. General inquiries may be directed to the philanthropies’ staff via email or telephone at 203-291-5000.
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