In the world of prestigious awards, the Genesis Prize stands apart with its distinctive approach to philanthropy. Referred to as the “Jewish Nobel” by TIME magazine, this prestigious $1 million award has pioneered a unique model where laureates redirect their winnings to causes aligned with their values, creating a powerful chain reaction of giving. At the helm of this innovative philanthropic venture is Stan Polovets, co-founder and chairman of The Genesis Prize Foundation, whose vision has transformed a single annual award into a catalyst for global impact.
A Revolutionary Approach to Philanthropy
Established in 2013 with a $100 million endowment, The Genesis Prize Foundation honors exceptional Jewish individuals who have achieved significant professional success, contributed meaningfully to humanity, and demonstrated a strong connection to their Jewish heritage.
“It is the only organization awarding an annual $1 million prize to an individual who does not take the money but turns around and invests it back into the community, often doubling or tripling the contribution through matching donors,” explains Stan Polovets. “This approach has been one of innovation, inclusivity, and agility in allowing Genesis Prize and its honorees the opportunity to find timely issues in need of philanthropic contribution and global attention.”
The revolutionary element of this model lies in its ripple effect. What begins as recognition for individual achievement transforms into targeted philanthropy addressing urgent societal needs. By creating this deliberate connection between personal accomplishment and community responsibility, The Genesis Prize Foundation amplifies both the honor bestowed upon laureates and the impact of their success.
From Recognition to Action: How the Model Works
The Genesis Prize’s “pay it forward” process begins with identifying individuals whose achievements deserve celebration. Through a rigorous nominations process, the foundation identifies candidates who exemplify the prize’s values of excellence, Jewish identity, support for the State of Israel, and commitment to improving the world.
Stan Polovets described the nominations and selection process: “Prior to 2020, it was mostly internal. The Genesis Prize Foundation solicited nominations from 1,000-plus Jewish leaders around the world, and those nominations were trimmed down to a smaller group based on alignment with the criteria for the prize.”
In more recent years, the process has become more inclusive, with public nominations and voting playing a larger role. This evolution reflects the foundation’s commitment to engaging the broader Jewish community in identifying role models who inspire pride and action.
Once selected, laureates make a crucial decision that distinguishes the Genesis Prize from other awards: they forgo the monetary prize and instead direct it toward philanthropic initiatives. This model creates a sustainable cycle of giving that extends far beyond the initial award.
Multiplying Impact: The Power of Paying It Forward
Perhaps the most remarkable aspect of this model is its multiplier effect. Through strategic partnerships and matching grant programs, the initial $1 million award frequently generates significantly larger funds for charitable causes.
For example, in 2015, laureate Michael Douglas directed his prize toward promoting inclusion of interfaith families in Jewish communities. Through a partnership with the Jewish Funders Network, this initiative generated matching donations resulting in $3.3 million in grants to 27 nonprofit organizations across North America.
The following year, violinist Itzhak Perlman channeled his award toward organizations supporting people with disabilities, resulting in $3.2 million for 22 nonprofit organizations through a similar matching grants program.
Robert Kraft, owner of the NFL’s New England Patriots and the 2019 Genesis Prize recipient, took this approach even further. Inspired by the award, Kraft contributed an additional $20 million of his own money to establish the Foundation to Combat Antisemitism, dramatically expanding the impact of the Prize.
Over the past decade, this distinctive philanthropic approach has transformed the Genesis Prize from a single annual award of $1 million into a powerful engine for social change, generating over $50 million in grants to more than 230 nonprofit organizations across 31 countries.
Adapting to Global Challenges
Another strength of the Genesis Prize’s model lies in its adaptability to emerging needs and crises. Unlike fixed-purpose foundations, this approach allows philanthropic resources to be directed toward the most pressing issues of the moment.
This flexibility proved essential during the COVID-19 pandemic when 2020 laureate Natan Sharansky directed his award to organizations supporting vulnerable populations affected by the crisis. Similarly, in 2023, the foundation recognized Jewish activists and organizations providing critical humanitarian aid to Ukraine following Russia’s invasion.
In 2024, the Genesis Prize honored Israeli organizations working to secure the release of hostages held by Hamas in Gaza and supporting their families. This focus on collective humanitarian efforts, rather than individual achievement, demonstrated the foundation’s ability to respond to urgent crises with meaningful support.
“The award is not a political statement, and it is not our intent to influence government policy,” stated Stan Polovets in 2024. “The Genesis Prize is a humanitarian award, and this year, it seeks to achieve three things: ensure the world does not forget the plight of captives; provide additional aid to organizations focused on assisting the hostages and their families; and honor the selfless work of organizations that spontaneously emerged after Oct. 7.”
“In 2024, in addition to honoring Israeli NGOs supporting hostages and their families, our foundation mounted an international public awareness campaign to ensure that the plight of the hostages remains on top of the agenda of global leaders,” Stan Polovets told The Jerusalem Post. “We funded legal expenses for hostage families who traveled to the Hague to present thousands of pages of evidence and personal testimony in their lawsuit against Hamas terrorists at the International Court of Justice.”
The Leadership Behind the Vision
Under Stan Polovets’ leadership, The Genesis Prize Foundation has established a philanthropic model that combines celebration of achievement with strategic giving. His extensive background in business and philanthropy informed this innovative approach.
“None of us can do this work alone,” Polovets emphasizes. “Every year, we have partnered with individuals, organizations, and donors to achieve our goals. It truly is a two heads are better than one’ approach.”
This collaborative philosophy has been instrumental in maximizing the impact of the Genesis Prize. By engaging diverse stakeholders—from laureates and matching donors to partner organizations and the broader Jewish community—the foundation has created a philanthropic ecosystem that amplifies its reach and effectiveness.
Why This Model Matters
The Genesis Prize’s “pay it forward” approach offers several advantages over traditional philanthropic models. First, it creates a powerful connection between individual achievement and social responsibility, reinforcing the Jewish value of “tikkun olam”—repairing the world.
Second, it allows philanthropic resources to be directed with precision toward causes that are both timely and aligned with the laureates’ personal passions. This targeted approach ensures that funds make a meaningful difference rather than being spread too thinly across multiple initiatives.
Third, the model’s flexibility enables the foundation to respond nimbly to emerging challenges and crises, as demonstrated by its recent focus on supporting Ukraine and addressing the hostage crisis in Israel.
Perhaps most importantly, this approach creates a virtuous cycle of philanthropy. By celebrating individuals who combine professional excellence with social commitment, the Genesis Prize inspires others to follow their example, fostering a culture of giving that extends far beyond the foundation itself.
The Future of “Paying It Forward”
As the Genesis Prize enters its second decade, its innovative philanthropic model continues to evolve. The foundation has expanded its recognition beyond individual laureates to also honor organizations addressing urgent humanitarian challenges, demonstrating its commitment to maximizing impact.
“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,” Polovets explains. “Based on this vision, we aim to bring the Jewish community together around its most critical issues.”
This forward-looking approach ensures that the Genesis Prize will continue to serve as a catalyst for positive change, channeling resources toward the most pressing challenges facing the Jewish community and the broader world.
The Genesis Prize’s “pay it forward” model represents a thoughtful reimagining of what an award can achieve. By transforming recognition into action, celebrating excellence while addressing need, and inspiring a culture of giving within the global Jewish community, this innovative approach demonstrates the power of purposeful philanthropy to create lasting impact.
In a world where humanitarian challenges continue to evolve, such strategic approaches to charitable giving become increasingly valuable. The Genesis Prize Foundation, through its distinctive model and under Stan Polovets’ visionary leadership, offers a compelling example of how to maximize the impact of philanthropic resources while inspiring others to join in the essential work of repairing the world.
