# MDRC

MDRC is an Endowment / Foundation based in New York, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** 200 Vesey Street, 23rd Floor, New York, NY 10281, United States
- **Founded:** 1974
- **Assets under management:** $50–$75 million (Altss estimate)
- **Website:** mdrc.org
- **LinkedIn:** https://www.linkedin.com/company/mdrc

## Regulatory record

- **Reports private funds:** No

## About

MDRC was launched in 1974 by the Ford Foundation and a consortium of federal agencies, not to manage a fortune but to build an evidence base for social policy. That mandate has made it an unusual institution: a nonprofit research organization with a $58 million balance sheet (Altss estimate), physical offices in New York, Oakland, and Washington, D.C., and a portfolio that spans fixed income, equity mutual funds, and alternative investments. MDRC designs and executes large-scale randomized controlled trials across education, workforce development, and criminal justice. Its work reaches from early childhood interventions through postsecondary completion and reentry programs. The organization partners with states, school districts, and other nonprofits to test what works, then actively disseminates results to policymakers. Its capital goes toward research operations rather than equity stakes, but the deployment model carries real scale: the Rikers Island recidivism project — the first Social Impact Bond in the United States — ran through MDRC as intermediary, with Goldman Sachs as the financing partner. President Virginia Knox has held the role since 2019, following Gordon Berlin's tenure. The organization's funders and research partners form a coalition of major institutions: Arnold Ventures backs the randomized trials that have become MDRC's signature methodology; Lumina Foundation collaborated on the Achieving the Dream community college initiative. MDRC participates in the Association for Public Policy Analysis and Management, where its leadership regularly contributes to the policy council. In 2023, MDRC continued its multi-year evaluation of the federal Health Profession Opportunity Grants program, publishing interim findings on career pathways for low-income adults (per MDRC, 2023). MDRC's structural differentiator is its position as a research nonprofit that operates like an institutional investor while holding no private family capital. Every dollar deployed serves a public-evidence mission — a governance posture that makes it a durable counterparty for government agencies and foundations seeking independent evaluation rather than financial return.

## Sectors

- Education
- Healthcare Services
- Social Policy Research

## Offices

- Oakland, CA
- Washington, D.C.

## People

- Virginia Knox — President
- Gordon Berlin — Former President

## Questions

### Who runs investment decisions at MDRC?

MDRC is a 501(c)(3) nonprofit, not an investment office. Its $58 million balance sheet (Altss estimate) is managed to support research operations rather than generate returns for principals. The portfolio includes fixed income, equity mutual funds, and alternative investments, overseen by the organization's financial leadership under President Virginia Knox.

### How does MDRC structure its research partnerships?

MDRC designs and executes randomized controlled trials in partnership with federal agencies, states, school districts, and other nonprofits. Major funders and partners include Arnold Ventures, which supports rigorous trials, and the Lumina Foundation, which collaborated on the Achieving the Dream community college initiative. The organization served as the intermediary on the first U.S. Social Impact Bond, with Goldman Sachs as the financing partner.

### Where does MDRC's funding come from, and how is it deployed?

MDRC was founded in 1974 by the Ford Foundation and federal agencies. Today it draws funding from government contracts, foundation grants, and its own $58 million endowment (Altss estimate). The endowment holds fixed income, equity mutual funds, and alternative investments. Every dollar ultimately supports the design, execution, and dissemination of large-scale social policy evaluations.

### What is MDRC's connection to Social Impact Bonds?

MDRC served as the intermediary on the Rikers Island recidivism project, the first Social Impact Bond in the United States. Goldman Sachs was the financing partner. This positioned MDRC as a key architect of the pay-for-success model now replicated across state and local governments.

### Does MDRC invest in for-profit companies?

MDRC does not take equity stakes in companies as part of its research or investment operations. Its alternative investments are held within the endowment portfolio. The organization's core activity is conducting program evaluations, not venture investing.

## Related profiles

- [LaGrange College Endowment](https://altss.com/profile/lagrange-college-endowment)
- [Olivet Nazarene University](https://altss.com/profile/olivet-nazarene-university)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/mdrc

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