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TIMOTHY AND MICHELE BARAKETT FOUNDATION
NEW YORK, NY · EIN 266140904 · Form 990PF · FY2024 · NTEE T20 · Philanthropy & Grantmaking · Medium ($1M-$10M)
revenue
$6.9M
expenses
$294K
net assets
$9.7M
employees
—
profile · synthesized from sources

Private foundation based in New York that makes grants to educational, health, and social service organizations. Primary grant recipient is Harvard College, with significant funding also directed to initiatives in public education, food security, and medical research. Operates with an annual grantmaking volume in the millions.

named programs · 6 · from sources

What they call their work

Barakett Family Athletic Director's Discretionary Fund
Supports Harvard athletics programs and student-athlete initiatives
Barakett Family Fellowship at GSE
Financial support for graduate students in education at Harvard Graduate School of Education
HBS Dean's Honorary Endowment for Business and Society
Endowment fund at Harvard Business School focused on ethical leadership and societal impact
Michele and Timothy Barakett FAS Dean's Discretionary Fund
Unrestricted funding for the Faculty of Arts and Sciences at Harvard University
Michele and Timothy Barakett Start-Up Grant Program Fund
Supports early-stage academic research and innovation initiatives at Harvard
Timothy and Michele Barakett Harvard Quantum Initiative Support Fund
Funding for quantum science research and programming at Harvard University
activities · 7 groups

What they do

  • University-Specific Endowment and Program Funding 4 activities
    • Funding athletic programs at Harvard College
      Provides financial support to the Barakett Family Athletic Director's Discretionary Fund at Harvard College, enhancing varsity athletics and student-athlete experiences.
    • Funding business and society programs at Harvard Business School
      Supports the HBS Dean's Honorary Endowment for Business and Society at Harvard Business School, promoting ethical leadership and social impact in business education.
    • Funding graduate fellowships at Harvard University
      Awards support to the Barakett Family Fellowship at the Harvard Graduate School of Education, enabling advanced study and leadership development in education.
    • Funding quantum science research at Harvard College
      Finances the Timothy and Michele Barakett Harvard Quantum Initiative Support Fund to advance research and education in quantum science and engineering at Harvard College.
  • Cancer Research Funding 1 activity
    • Funding cancer care and medical research initiatives
      Made a donation to the Dubin Breast Center's Annual Benefit Gala at the Icahn School of Medicine at Mount Sinai, supporting breast cancer treatment and research programs.
  • Teacher & Classroom Innovation Grants 1 activity
    • Funding educational technology infrastructure
      Grants to Education Super Highway to support nationwide efforts to upgrade internet connectivity in public schools across the United States.
  • Charitable Grantmaking to Specific Causes 1 activity
    • Funding food security programs in New York City
      Provides the second installment of a pledge to Rethink Food NYC Inc., supporting efforts to reduce food waste and increase access to nutritious meals in underserved communities.
  • Capital Infrastructure Funding 1 activity
    • Funding school infrastructure development
      Finances the Lawrence Catholic Academy Building Campaign to support capital improvements and facility expansion for the academy.
  • Environmental Conservation Grantmaking 1 activity
    • Funding urban park conservation and improvement
      Provides the first installment of a pledge to the Central Park Conservancy’s For All Campaign to support the maintenance and accessibility of Central Park in New York City.
  • Uncategorized 2 activities
    • Funding discretionary academic initiatives at Harvard College
      Funds the Michele and Timothy Barakett FAS Dean's Discretionary Fund and the Cohasset Undergraduate Fund at Harvard College, supporting flexible academic needs and student opportunities within the Faculty of Arts and Sciences.
    • Funding start-up grants for students at Harvard College
      Supports innovation and entrepreneurship among undergraduates through the Michele and Timothy Barakett Start-Up Grant Program Fund at Harvard College.
financials · form 990PF · fy2024
revenue
Total revenue$6.88M
Contributions & grants$6.21M90%
Program service revenue——
Investment income$90K1%
Other revenue$572K
expenses
Total expenses$294K
Program expenses—
Admin / overhead—
Fundraising—
Salaries & benefits$0
Grants paid out$8.84M
balance sheet
Total assets$9.66M
Cash—
Investments—
Liabilities—
Net assets$9.66M
4 years on record · 2020–2024 · YoY revenue +1364.8%
leadership · form 990 part vii · fy2024

Who runs it

board members · 2
  • MICHELE BARAKETT — TRUSTEE
  • TIMOTHY BARAKETT — TRUSTEE
relationships · 6

Who they work with

  • CENTRAL PARK CONSERVANCY Partner — Receives pledged grant funding from the foundation for its For All Campaign.
  • EDUCATION SUPER HIGHWAY Partner — Receives funding from the foundation to support internet access upgrades in public schools.
  • HARVARD COLLEGE Partner — Receives multiple grants from the foundation to support academic, student, and research programs.
  • ICAHN SCHOOL OF MEDICINE AT MOUNT SINAI Partner — Receives a donation from the foundation for its Dubin Breast Center's Annual Benefit Gala.
  • LAWRENCE CATHOLIC ACADEMY Partner — Receives grant funding from the foundation for its building campaign.
  • RETHINK FOOD NYC INC Partner — Receives pledged grant funding from the foundation.