# The Mount Sinai Health Care Foundation

The Mount Sinai Health Care Foundation is an Endowment / Foundation based in Cleveland, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Cleveland, United States
- **Region:** North America
- **Address:** 23215 Commerce Park, Suite 102, Beachwood, OH 44122
- **Founded:** 1996
- **Assets under management:** Undisclosed
- **Website:** mtsinaifoundation.org
- **LinkedIn:** https://www.linkedin.com/company/the-mt-sinai-health-foundation

## Regulatory record

- **Reports private funds:** No

## About

The Mount Sinai Health Care Foundation was established in 1996 from the proceeds of the sale of Mount Sinai Hospital, a storied Cleveland institution. Long-time President Mitchell Balk guides its dual mandate: improving the health of Greater Cleveland through grants and policy work, while running an investment program that includes direct venture exposure. Strategy spans philanthropy and venture capital. The foundation's grantmaking focuses on equitable health outcomes, the health of the Jewish community, academic medicine, and health policy. On the investment side, it operates the Mount Sinai Health Care Foundation Bioscience Fund, making direct venture investments. Its deal activity concentrates on the Greater Cleveland area but extends nationally through bioscience commitments. The fund targets early-stage health and bioscience companies. The foundation is headquartered in Beachwood, Ohio, and is closely tied to Cleveland's Jewish philanthropic ecosystem. It is a member of the Jewish Funders Network and Philanthropy Ohio, and collaborates frequently with the Jewish Federation of Cleveland on community health initiatives. Its board has included prominent local leaders such as Beth Wain Brandon and the late Victor Gelb, a past board chair instrumental in the foundation's creation. The foundation's structure is unusual for a health conversion foundation: it pairs traditional endowment-style grantmaking with a named, in-house venture capital fund. This hybrid approach lets it pursue its mission through both charitable distributions and equity investments in the bioscience firms that shape future health outcomes in its home region.

## Sectors

- Healthcare Services
- Digital Health

## People

- Mitchell Balk — President

## Questions

### Who runs investment decisions at The Mount Sinai Health Care Foundation?

President Mitchell Balk has led the foundation for decades and oversees its combined grantmaking and investment activities. The foundation's board, which historically includes prominent Cleveland business and philanthropic leaders, governs the strategic direction of its assets, including the Bioscience Fund.

### How does the foundation's Bioscience Fund fit into its broader mission?

The Mount Sinai Health Care Foundation Bioscience Fund is a venture investment vehicle that operates alongside the foundation's traditional grantmaking. It deploys capital directly into early-stage health and bioscience companies, allowing the foundation to advance medical innovation through equity stakes while its grant programs address community health needs.

### Does the foundation make grants, venture investments, or both?

It does both. The foundation's core activity is grantmaking focused on equitable health outcomes, the Jewish community, academic medicine, and health policy in Greater Cleveland. In parallel, it runs the Bioscience Fund for direct venture investments in early-stage health and bioscience firms.

### How is the foundation related to the Jewish Federation of Cleveland?

The two organizations are frequent collaborators on community health and Jewish identity initiatives. The foundation's board has included leaders active in the Federation, and both entities share a commitment to the well-being of Cleveland's Jewish community.

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

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