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Russell Berrie Foundation
The Russell Berrie Foundation was established in 1985, marking the formalization of Russell Berrie's philanthropic giving. Berrie, the founder of a celebrated...
Russell Berrie Foundation
The Russell Berrie Foundation was established in 1985, marking the formalization of Russell Berrie's philanthropic giving. Berrie, the founder of a celebrated gift company, sold his toy business Russ Berrie and Company in the mid-1980s. After his passing in 2002, his widow Angelica Berrie took the helm as President. She runs the foundation alongside CEO Idana Goldberg and CFO/COO Adam Hirsch from the foundation's headquarters in Teaneck, New Jersey. The foundation's investment strategy is a balanced, multi-asset portfolio that includes commitments to venture capital, buyout, distressed debt, and growth equity funds, as well as direct real assets. It operates across full lifecycle stages, from early-stage seed to expansion and secondary transactions. The endowment supports a grant-making mission focused on four core areas: diabetes care and research, strengthening Israel's cultural and economic vitality, interfaith bridge-building, and community initiatives in New Jersey. The real asset portfolio includes the Glenpointe Centre East commercial property in Teaneck and the obelisk sculpture at the Technion in Haifa, Israel. Angelica Berrie is deeply embedded in the faith-based philanthropic community, having served as Co-Chair of the Jewish Funders Network. The foundation is an active member of the Council on Foundations and the Council of New Jersey Grantmakers. Its physical and programmatic footprint bridges the United States and Israel, operating RBF Philanthropic Services Ltd. in the Israeli market. The foundation was named Outstanding Foundation by the Association of Fundraising Professionals in 2001, reflecting its long-running regional presence. The foundation's structural differentiator is its dual identity as both an active institutional investor and a direct grant-making operating foundation. Unlike many endowments that sequester investment activity from program officers, the Russell Berrie Foundation's leadership — Angelica Berrie as President, Scott Berrie as Vice President, and Ilan Kaufthal, former Vice Chairman at Bear Stearns, as Trustee — integrates Wall Street governance with a tightly held family board. This governance model keeps asset allocation decisions directly aligned with the founder's philanthropic playbook across the U.S. and Israel.
General information
Firm type
Foundation
Year founded
1985
Location
Region
North America
Country
United States
City
Teaneck
Corporate office
300 Frank W Burr Blvd, Teaneck, NJ 07666, United States
Additional offices
RBF Philanthropic Services Ltd., Israel
Principals
Angelica Berrie
President and Trustee
Idana Goldberg
Chief Executive Officer
Adam Hirsch
Chief Financial Officer and Chief Operating Officer
Scott Berrie
Vice President and Trustee
Ilan Kaufthal
Trustee
Sector focus
Frequently asked questions
Who is responsible for investment decisions at the Russell Berrie Foundation?
The foundation is overseen by a board of trustees led by President Angelica Berrie, with Vice President and Trustee Scott Berrie. The board includes Ilan Kaufthal, a former Vice Chairman at Bear Stearns and Schroder & Co., who brings significant institutional investment experience to the decision-making process. The day-to-day management is handled by CEO Idana Goldberg and CFO/COO Adam Hirsch.
Where does the Russell Berrie Foundation's endowment come from?
The endowment originates from the wealth created by Russell Berrie, who founded Russ Berrie and Company, a prominent gift and toy business. The foundation was established in 1985 following the sale of his company, and after Russell Berrie's death in 2002, his wife Angelica Berrie took over leadership of the philanthropic entity.
Does the Russell Berrie Foundation allocate capital to direct investments or only fund commitments?
The foundation invests through a mix of direct holdings and external fund commitments. Its strategy spans venture capital, buyout, distressed debt, growth equity, and mezzanine, ranging from early-stage to secondaries. The foundation also holds direct real assets, including the Glenpointe Centre East commercial property in Teaneck, New Jersey.
What is the foundation's relationship to Israel?
Strengthening Israel's cultural and economic vitality is one of the four core grant-making pillars. The foundation maintains a physical and programmatic presence in the country through RBF Philanthropic Services Ltd. Its funded projects in Israel include social welfare initiatives like Wings of Hope and cultural installations such as the obelisk sculpture at the Technion – Israel Institute of Technology in Haifa.
What is the governance structure of the Russell Berrie Foundation?
The foundation operates as a family-led institution with a board that includes members of the Berrie family and independent trustees. Angelica Berrie, the founder's widow, serves as President and Trustee, and her stepson Scott Berrie serves as Vice President and Trustee. Independent trustee Ilan Kaufthal, formerly of Bear Stearns, adds institutional financial oversight to the board.
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