Stan Polovets, CEO of The Genesis Prize Foundation, shares insights on innovative philanthropy and fostering Jewish values through strategic giving.

From boardrooms to charitable organizations, Stan Polovets has navigated a multifaceted career path with notable success. His expertise in business has ultimately found expression in the philanthropic sphere, where he has distinguished himself as the driving force behind the influential Genesis Prize Foundation.

Since its inception in 2013, the Genesis Prize has been a symbol of Jewish achievement and pride. This annual award recognizes individuals who have achieved great professional success and exemplify the spirit of tikkun olam — repairing the world — while being proud of their Jewish roots. The foundation’s influence extends beyond its high-profile honorees; its work has resulted in more than $50 million in grant funding to a large array of causes worldwide.

Stan Polovets: A Business Leader With Philanthropic Vision

Stan Polovets brings a wealth of cross-industry expertise to his role at The Genesis Prize Foundation. His tenure as CEO of the AAR Consortium and senior vice president/board member at TNK-BP, one of the largest joint ventures in the global energy sector, equipped him with invaluable leadership skills. Polovets’ approach, which deftly combines collaborative

decision-making with forward-thinking strategies, has been instrumental in elevating the foundation to its current prominence. This unique blend of experiences has enabled him to steer the organization through challenges and toward continued growth.

Beyond the energy sector, Polovets’ leadership has impacted numerous businesses. He served as lead non-executive director at CLAL Industries, one of Israel’s largest diversified holding companies. He also chaired the board of Anchiano Therapeutics, a biopharmaceutical company focused on cancer treatment research, for which Polovets oversaw a merger with Chemomab Therapeutics.

The Genesis Prize: A Unique Approach to Philanthropy

When Michael Bloomberg became the Genesis Prize’s inaugural recipient, he set a precedent that would define the foundation’s future. Rather than accepting the financial award, Bloomberg channeled the million-dollar prize into a competition for young adults, called The Genesis Generation Challenge. This strategic move provided funding to young innovators with promising humanitarian ideas, thereby extending the prize’s reach and fostering creative solutions to worldwide challenges. Bloomberg’s decision

exemplified the foundation’s commitment to nurturing future leaders and maximizing its philanthropic impact.

For a decade, the Genesis Prize, under Stan Polovets’ leadership, continues this distinct approach with laureates allocating the prize funds to causes they care about, often amplifying the impact through matching donations. This model, which emphasizes individual recognition and community support, has enabled the Genesis Prize to distribute tens of millions of dollars to hundreds of nonprofit organizations in over 30 countries.

Polovets describes the foundation’s philosophy as one of “innovation, inclusivity, and agility.” These principles have allowed the foundation to address global issues as they arise, whether through aiding Jewish activists and organizations helping Ukraine or supporting Israeli nongovernmental organizations working to free hostages held by Hamas. The foundation’s flexibility is one of its key strengths, enabling laureates to address pressing global concerns while staying true to their Jewish identity.

For instance, the most recent honoree, Barbra Streisand, allocated her prize to nonprofit organizations focused on women’s health, climate change, truth in the public sphere, and aid for Ukrainians affected by war.

Another secret of the Genesis Prize’s success is matching grant programs. These initiatives have significantly multiplied the foundation’s philanthropic reach, engaging additional donors and creating a broader impact. The Genesis Prize Foundation partnered with the Jewish Funders Network in the United States and the Matan/United Way in Israel. Stan Polovets explains, “Both are conveners of funders around the world, and Genesis Prize Foundation was able to rely on both for guidance on how best to structure philanthropic themes to leverage additional donations.”

He continues, “In 2015, The Genesis Prize Foundation worked with JFN to administer a matching grants program which encouraged nonprofit organizations throughout the U.S. and Canada to secure donors and propose projects to more effectively welcome intermarried families into

Jewish community life. The result: $3.3 million in grants went to 27 nonprofit organizations. In 2016, JFN administered a matching grants program for organizations proposing ways to better include those with disabilities in Jewish life. This resulted in $3.2 million going to 22 nonprofit organizations.”

While the Genesis Prize’s financial impact is significant, with over $50 million distributed to more than 230 NGOs, the foundation’s success is also measured more qualitatively. Polovets says, “We look at the impact we have on the laureates themselves — by giving them a meaningful Jewish experience and recognition, we hope that they, too, will be moved to be involved more Jewishly.”

A Lifelong Commitment to Philanthropy

Stan Polovets’ approach to philanthropy is deeply rooted in personal experience. Growing up in an immigrant family after moving to the U.S. in 1976, he witnessed firsthand the generosity of his father and his dedication to helping others. This experience shaped Polovets’ belief in giving back and guided his leadership in philanthropy as well as business.

In addition to his work with the Genesis Prize, Polovets co-founded the Genesis Philanthropy Group, which focused on developing and enhancing Jewish identity among Russian-speaking Jews globally. Earlier in his career, he founded the Vnimanie Foundation, which supported Russian children with learning disabilities. Although Vnimanie no longer operates in its original format, its influence continues in the changed perception of ADHD and other learning differences in Russia.

The foundation’s ability to convene philanthropists, nonprofit leaders, and young people has fostered a global network of individuals committed to making a difference. This network has proven invaluable in times of crisis. The Genesis Prize has shown agility in responding to events such as the war in Ukraine and the ongoing hostage crisis in Gaza, demonstrating that its impact extends beyond financial contributions to fostering a sense of unity and shared responsibility within the Jewish community. The Genesis

Prize Foundation is poised to play an even more significant role in promoting Jewish values and identity by helping to unite the Jewish community around timely and critical issues.