The concept of turning down a million-dollar prize might seem counterintuitive, yet this unconventional approach has become the cornerstone of a philanthropic revolution. Under the leadership of Stan Polovets, The Genesis Prize Foundation has transformed individual accolades into widespread charitable impact, marking its first decade with remarkable achievements in 2024.
At the core of this success lies a unique model established in 2013, where each $1 million award becomes a catalyst for broader social change. Stan Polovets, speaking from his position as co-founder and chairman, emphasizes that laureates must demonstrate more than just professional excellence – they must show meaningful engagement with society and commitment to positive change.
The foundation’s selection process has significantly evolved. What began as an internal procedure involving approximately 1,000 global leaders has blossomed into an inclusive community effort. Since 2020, the process has incorporated input from tens of thousands of Jewish individuals worldwide, utilizing digital platforms to ensure broader representation in selecting role models for the community.
This approach has yielded impressive results. In 2015, Michael Douglas’s focus on including intermarried families in Jewish life transformed the initial prize into $3.3 million, benefiting 27 organizations across North America. The following year, Itzhak Perlman directed attention to special needs support, generating $3.2 million for 22 nonprofit organizations. A particularly notable achievement came in 2019 when Robert Kraft’s recognition catalyzed an additional $20 million personal contribution toward fighting antisemitism.
Stan Polovets points to adaptability as a crucial factor in the foundation’s effectiveness. When COVID-19 emerged, 2020 laureate Natan Sharansky redirected resources to support vulnerable populations affected by the pandemic. The 2024 award demonstrated similar responsiveness by recognizing organizations supporting Israeli hostages and their families, showcasing the foundation’s ability to address urgent humanitarian needs.
The tenth-anniversary celebration featured Barbra Streisand, whose award supported multiple initiatives, including women’s health, climate action, truth in public discourse, and Ukrainian humanitarian aid. This diverse allocation reflects the foundation’s evolution in addressing contemporary challenges while maintaining its core mission through strategic partnerships and matching pro.
The foundation’s influence has expanded to over 230 nongovernmental organizing countries in 31 countries’ programs. This growth stems from Polovets’s emphasis on establishing concrete, measurable goals and identifying opportunities to address unmet community needs.
The foundation’s work is particularly significant in today’s environment, where Jewish communities worldwide face challenges of identity preservation and rising antisemitism. By highlighting individuals who achieve professional excellence while proudly embracing their Jewish identity, the foundation creates powerful examples for future generations.
Looking ahead, the foundation continues to demonstrate how recognition of excellence, paired with strategic philanthropy, can create lasting social impact. It has established a model that transforms individual achievement into collective progress through careful laureate selection and innovative funding approaches.
The Genesis Prize Foundation’s journey under Stan Polovets’s guidance illustrates how thoughtful philanthropic strategies can amplify individual success into broader social advancement. By converting personal achievement into community benefit, the foundation has created a new standard for philanthropic leadership within the Jewish community and beyond.
