The Morningstar Foundation

The Morningstar Foundation

The Morningstar Foundation was established in 1982 by Michael and Susan Gelman. Susan Gelman descends from the Haas/Goldman branch of the Levi Strauss fortune. The foundation maintains its headquarters in Bethesda, Maryland and employs five professionals. Grantmaking focuses on Jewish causes in the United States and Israel, education access, environmental protection, and civil society programs. The foundation holds limited partnership interests in Southern Cross Latin America Private Equity IV, The Varde Fund X, AKO Partners, and Agent Capital. It also maintains a 41 percent ownership stake in Mid-Atlantic Media and a 2.87 percent stake in Congressional Bancshares. Geographic exposure spans North America, Latin America, and the United Kingdom. Assets stood at an estimated 546 million dollars based on historical filings. The foundation maintains a term loan facility with the Jewish Federation of Greater Washington. Michael Gelman serves on the boards of Jewish Federations of North America and the United States Holocaust Memorial Council. Susan Gelman chaired the Israel Policy Forum board from 2016 to 2023. In May 2024 the foundation sponsored the Keeping It Cool Grant Awards in Washington, D.C. The foundation operates as a private grantmaking vehicle with direct ownership in operating businesses and fund commitments. This hybrid posture separates it from pure endowments that rely solely on external managers.