Kalikow’s philanthropic endeavors and strong commitment to public service throughout his life have been unwavering. In 1990, Peter and his wife, Mary Kalikow, made a major donation to American historian Stephen Ambrose to help him achieve his dream of opening a National D-Day Museum. As the first donation, their contribution was a vital part of kickstarting the process that eventually led to the opening of the museum on D-Day: June 6, 2000. The Kalikows have continued to play a dedicated role in supporting the museum, donating an additional $1 million since then.

In 1994, Peter Kalikow oversaw the development of a new middle school at Columbia Grammar & Preparatory School, the oldest nonsectarian independent school in New York City. Since their children, Nicholas and Kathryn Kalikow, attended Columbia Grammar & Prep, Peter and Mary Kalikow were heavily involved with the school. As a leading trustee on the school board, Mary Kalikow, now a trustee emeritus, aided the efforts to expand the school infrastructure as the number of students significantly increased. In 1990, Peter and Mary made a $250,000 donation to purchase the land that was later used as the school’s site. In 1996, under Kalikow’s management, the new five-story middle school was erected at 36 West 93rd Street. Additionally, Penny Kalikow’s daughter Jill Goldsmith continues to play an active role in the school, which her children attend.

In 1997, Peter Kalikow became a founding trustee of the Museum of Jewish Heritage, adding to the list of Jewish causes and institutions the Kalikow family has been involved with over the past century. Peter and Mary Kalikow have donated millions of dollars to MJH, furthering their commitment to preserving Jewish history and culture. In 2023, the Peter and Mary Kalikow Jewish Genealogy Research Center was established, a new facility that allows museum visitors to access Jewish genealogy resources and discover more about their ancestry.

Kalikow previously served on the board of the Jewish National Fund and has received awards from both the UJA-Federation and the Anti-Defamation League of the B’nai B’rith, including the 1979 Norman Tishman Human Rights Award he received with his father Harold. In 1982, he was presented with the Peace Medal, Israel’s highest civilian award, for his years of service in aiding Israel’s development and for his work involving Israel Bonds.

Additionally, in 1997, the Peter and Mary Kalikow Pediatric Intensive Care Unit was established at New York Hospital, expanding the original unit to provide enhanced care for critically ill children. Kalikow is a longtime trustee of New York-Presbyterian Hospital and former vice chair. He is now a trustee emeritus, continuing to support the hospital’s mission and initiatives.

In 2008, Peter Kalikow was honored by Consul General of Italy, Francesco M. Talo, with the Commendatore in the Order of Merit of the Italian Republic, one of the highest honors bestowed by the government of Italy. He was acknowledged as a cultural ambassador to the country for his economic and humanitarian efforts.

Peter Kalikow’s total philanthropic donations are approaching $100 million, and he shows no signs of slowing down. To provide enduring support for the study of government and policymaking, particularly the American presidency, Kalikow has donated $12 million to his alma mater, Hofstra University, in recent years. In 2015, Kalikow established the Peter S. Kalikow School of Government, Public Policy, and International Affairs, which includes multiple academic departments and an interdisciplinary major in public policy and public service. Kalikow previously established the Peter S. Kalikow Center for the Study of the American Presidency at Hofstra in 2006 and endowed the Peter S. Kalikow Chair in Presidential Studies. Prior to that, Kalikow was awarded an honorary doctorate of law degree from Hofstra in 1986 and was the Alumni of the Year in 1988.

Along with contributing to the philanthropic causes mentioned earlier, Kalikow continues to serve on several boards, including as chairman of the Grand Central Partnership Board of Directors since 2000 and as a member of the Board of Governors of the Real Estate Board of New York. He previously served on the Rent Stabilization Association Board.

His real estate awards include the Harry Helmsley Award, the Award for Excellence by the Building Owners and Managers Association of Greater New York for the development of 101 Park Avenue, the Golden Circle Award, and the Fred C. Trump Outstanding Real Estate Achievement Award by the Associated Builders and Owners of Greater New York.