Stan Polovets, co-founder and chairman of The Genesis Prize Foundation, on how it is transforming philanthropy, with laureates redirecting millions to vital causes.
The power of saying “no” to a million dollars might seem counterintuitive in philanthropy. Yet this radical act of generosity has multiplied into tens of millions in charitable giving through The Genesis Prize Foundation, marking its first decade of impact in 2024. Historically, each recipient has chosen to forgo the $1 million prize and has asked the foundation to redirect the award funds toward charitable initiatives, turning individual recognition into wide-reaching social impact.
Professional excellence is only the beginning of what makes a Genesis Prize laureate. Winners must demonstrate extraordinary achievements in their fields and meaningful contributions to society. “We focus not only on the recognition of Jewish achievement, but also the funding that we are able to galvanize toward a particular cause,” Stan Polovets, co-founder and chairman, explains.
The careful selection of laureates who combine remarkable talent with genuine social commitment helps maintain the prize’s growing influence in global philanthropy. “One critical factor in the success of a philanthropic venture is having concrete, measurable goals,” says Polovets. You need to know where you want to go so you can chart the right path.”
That path began in 2013 when the foundation established its unique model: awarding $1 million to exceptional individuals who in turn redirect the prize funds to vital causes. These investments have supported over 230 nongovernmental organizations across 31 countries through strategic partnerships and matching programs.
The foundation’s adaptability proved essential from its earliest days. “We have not had one year that was like a previous one,” Stan Polovets reflects. “From canceled award ceremonies due to war in Syria and COVID, to significantly expanding the nominations and selection process to ensure global input, Genesis Prize Foundation has had to adapt quickly to changing circumstances from year to year.”
This flexibility allowed the foundation to respond decisively to global events. When COVID-19 struck, 2020 laureate Natan Sharansky directed his award to organizations supporting vulnerable populations affected by the pandemic. In 2023, the prize recognized Jewish activists and organizations providing crucial aid to Ukraine in response to the humanitarian crisis caused by Russia’s invasion.
Selection to Action: How the Prize Creates Change
The selection process itself has undergone thoughtful evolution. “Prior to 2020, it was mostly internal,” Stan Polovets explains. “The Genesis Prize Foundation solicited nominations from 1,000-plus leaders around the world, and those nominations were trimmed down to a smaller group based on alignment with the criteria for the prize.”
In 2020, The Foundation began involving the global Jewish community in the selection; it solicited nominations from tens of thousands of Jews throughout the world using email and social media. It then asked the public to vote on a short list of candidates. By involving the community in the selection, the Laureates truly represent role models for the Jewish people.
Each laureate’s decision ripples outward through carefully structured giving programs. Polovets points to the 2015 matching grants initiative focused on inclusion of intermarried families in Jewish life, with laureate Michael Douglas and in partnership with the Jewish Funders Network. This turned the initial award into $3.3 million, supporting 27 organizations across North America.
The following year, a similar matching grants program generated $3.2 million for 22 nonprofit organizations focused on supporting individuals with special needs, spearheaded by laureate Itzhak Perlman.
In 2019, New England Patriots owner Robert Kraft received the prize for his commitment to combating hate. Inspired by the Prize, Kraft made an additional $20 million personal donation to establish The Foundation to Combat Antisemitism.
To achieve that level of philanthropic success, research is crucial. Stan Polovets says, “Be the expert on the field which you are trying to affect and understand where there is ‘blank space’ — an opportunity to address an unmet need.”
The Genesis Prize Foundation’s recent focus highlights its dedication to humanitarian causes. The 2024 award recognized Israeli organizations supporting hostages and their families suffering from the Hamas terrorist attack. “The Genesis Prize is a humanitarian award,” Polovets said. “This year, it seeks to achieve three things — ensure the world does not forget the plight of the captives; provide additional aid to organizations focused on assisting the hostages and their families; and last but not least, honor the selfless work of organizations that spontaneously emerged after Oct. 7 to support Israeli citizens with essential services.
Impact in its 10th Anniversary
Entertainment icon Barbra Streisand received the 10th Anniversary award, directing funds to nonprofits advancing women’s health, climate initiatives, truth in public discourse, and aid to the Ukrainian people. Her selection exemplifies the prize’s commitment to recognizing individuals who combine professional excellence with dedication to social causes.
The foundation’s success stems from its collaborative approach to philanthropy. “Identify individuals and organizations whose counsel will be helpful to you and seek input at various stages of development,” Polovets says.
This philosophy of partnership extends beyond individual awards. “Competition actually energizes people to develop solutions and ends up fostering collaboration, as different people with intersecting ideas look to leverage each other’s thinking,” Polovets notes.
Stan Polovets’ plan for the future is clear. He shares, “The vision of the Genesis Prize is a strong and vibrant Jewish people, aware of its roots while looking to the future, a Jewish community flourishing in diversity yet united in appreciation of Jewish values and support for the Jewish state.”
For Polovets, philanthropy represents a continuation of deeply personal values. “Things can change in a very short time, we need to adapt and not despair,” he reflects, drawing on lessons learned throughout his life.
Stan Polovets and The Genesis Prize Foundation: Building Pride Through Achievement
In the decade since the prize’s inception, Jewish identity in the global context has continued to evolve, shaped by a complex interplay of historical, cultural, religious, and geopolitical factors. The Jewish diaspora, spread across numerous countries, faces unique challenges and opportunities to maintain and express identity. The rise in antisemitism globally over the past few years has been a concerning trend that’s attracted significant attention from governments, civil society organizations, and Jewish communities worldwide.
Stan Polovets said, “We are living in a time where assimilation and antisemitism have inhibited open expressions of Jewish identity around the globe. The foundation saw an opportunity to use a new tool for fostering that pride: spotlighting a Jewish individual who has achieved unparalleled professional success while speaking openly and positively about their Jewish identity.”
The Genesis Prize continues to demonstrate how recognition of excellence and strategic philanthropy can create lasting social impact. The foundation has built a model that turns individual achievement into collective progress through careful laureate selection, innovative funding approaches, and responsive grantmaking.