Boston Foundation

The Boston Foundation, also called TBF, is a grantmaking group in the Boston area. The foundation has five “impact areas” of focus, which are education, health and wellness, jobs and economic development, neighborhoods and housing, and arts and culture. 1

At-A-Glance

Website: www.tbf.org
Formation:

1915

President & CEO:

Dr. Lee Preston

Location: Boston, MA View on map
Tax ID: 04-2104021
Most Recent Filing: 2025
Budget (2025): Assets: $2,145,008,944 Revenue: $426,656,046 Expenses: $279,853,597

Contents

    The foundation had more than $1.2 billion in net assets in fiscal year 2018. The foundation paid about $130 million in grants to nonprofit organizations that year and received more than $200 million in donations. The organization says it has given $2 billion to nonprofits, including $1 billion in the past decade. The organization says it is a partner in philanthropy with 1,000 separate charitable funds. 2

    The foundation says that in 2019 it received $151 million in contributions and paid $153 million in grants. The foundation also works with the Annual Campaign for Civic Leadership, the group says it is pushing public discourse and action. It also established the Philanthropic Initiative, a consulting unit of the foundation for other nonprofits. 3 Grant recipients include a number of left-of-center advocacy organizations, including 350.org, American Friends Service Committee, Americans United for the Separation of Church and State, Center for Reproductive Rights, Environmental Working Group, Institute on Taxation and Economic Policy, Issue One, Planned Parenthood Federation of America, and TSNE MissionWorks. 4

    History

    The foundation was established in 1915 by the father and son team of Charles E. and Charles M. Rogerson. James Longley was the first donor on 1917, giving $4 million. 5

    In 1960, Boston financier Albert Stone gave $20 million to the foundation. This was used as seed funding for other nonprofits to create “large social justice movements.” It focuses on education health, housing and the arts. 5

    During the 1980s and 1990s, the foundation established new anti-poverty initiatives. 5

    In 2001, Paul S. Grogan became president and CEO. 5 Under Grogan, the foundation pushed legislative changes on health care, education and housing issues. 5

    In January 2020, Grogan announced he was stepping down from the position, but would remain until a successor is chosen. The foundation’s chairman of the board of directors, Sandy Edgerley, announced he would conduct a search for a replacement. 6

    In December 2020, it was announced that Emerson College president Dr. Lee Pelton would take the position of president and CEO of the Boston Foundation.  7 He officially started in the position on June 1, 2021. 7

    In 2025, the Boston Foundation partnered with the Trust Based Philanthropy Project through their “Meet the moment” initiative. This initiative seeks to bring its supporters together “in solidarity with nonprofits.” The group claims that the political climate could pose risks to nonprofits through reductions in funding, legal concerns, and lack of staff. 8

    Advocacy Grantmaking

    In 2019, the organization donated $5.9 million to various groups in the Boston area, primarily focused on education, health care and the arts. Those included advocacy organizations; it gave $150,000 to the Latino Legacy Fund, to improve education for Latinos in the area and $150,000 to the Equality Fund promoting LGBT issues. 2 Boston Foundation has also made substantial grants to national left-progressive organizations, including the Planned Parenthood Federation of America, Center for Reproductive Rights, Environmental Working Group, and Natural Resources Defense Council. 4

    In 2020, the Boston Foundation worked with the United Way for the COVID-19 Response Fund to award one-time operating grants to non-profits that support the elderly and other vulnerable populations. The fund was set up with the approval of the Boston city government. 9

    The Boston Foundation teamed with Harvard School of Public Health on a study of high-risk pregnancies in 2019 among immigrant women and health disparities for women based on race and ethnicity. 10

    Less publicized were the political grants to progressive organizations, promoting abortion, gun control and other matters, some outside the Boston area.

    Previous grant recipients have include $38,000 to the ACLU Foundation of Massachusetts, and separately $25,000 to the national ACLU Foundation in New York, according to the 2017 tax returns. The foundation also gave $100,500 to Americans United for the Separation of Church and State based in Washington; the $10,000 to the Center for Climate and Energy Solutions based in Arlington, Virginia; $117,750 to the Center for Reproductive Rights based in New York; $25,000 to the liberal Democracy Now Productions based in New York; $45,750 to Earthjustice based in San Francisco; $350,000 to the Environmental Working Group; $32,750 to Everytown for Gun Safety Support Fund, based in New York; $217,350 to the Planned Parenthood League of Massachusetts; and another $50,000 to the Planned Parenthood League of Indiana and Kentucky. 11

    Leadership

    Outgoing president and CEO Paul S. Grogan took over the organization in 2001 and announced his retirement in 2020. During his tenure, the foundation says it has doubled the size of assets to more than $1.3 billion, while also increasing grants to $150 million per year. The foundation says that $1.7 billion of the total $2.1 billion grants made occurred under Grogan. Before working for the Boston Foundation, he was the vice president for government, community and public affairs at Harvard University. Before that, Grogan had jobs under Boston Mayors Kevin H. White (D) and Raymond L. Flynn (D). 12 Dr. Lee Preston took over the position of President and CEO of the Boston Foundation on June 1, 2021. 7 He previously served as president of Emerson College from 2011 to 2021, which followed him serving for 13 years as president of Willamette College in Salem, Oregon. 13 In addition, he was named Chairman elected to the board of Trustees for Boston University in April 2022. 13

    Chairman of the Board of Directors Sandra Edgerley was a management consultant for Bain & Company from 1984 to 1996. She left the company to spend devote full time to raising her children and was engaged in various philanthropy efforts. 14

    Vice president of strategy and operations Stephen Chan has been with the organization since 2004. He was previously an advisor to Boston Mayor Thomas M. Menino (D). Chan is a board member of the ACLU of Massachusetts. 15

    Vice president of communications and public affairs Keith Mahoney began with the organization in 2010. He also previously worked for Mayor Menino as director of state relations for the city. Before that, served as the legal counsel for Massachusetts state Sen. Cheryl Jacques, a Democrat who also served as president of the LGBT group Human Rights Campaign. 16

    Senior Vice President and Chief Philanthropic Officer Kate Guedj joined the organization in 2000. She was previously an executive at the Massachusetts Barr Association and director of the Massachusetts Barr Fund, its philanthropic arm. 17

    Vice President for Programs Orlando Watkins is a former vice president for Match Education and was a vice president for the Greater New Orleans Foundation. 18

    Financials

    According to its 2021 990 form the Boston Foundation reported a revenue of $324,652,362, expenses of $228,370,471, and total assets of $1,673,670,064. 19

    Financial Statistics

    Total Assets

    Total Revenue

    Total Expenses

    YearTotal AssetsTotal RevenueTotal ExpensesFiling
    2025 $2,145,008,944 $426,656,046 $279,853,597 View
    2024 $1,853,183,611 $210,389,550 $215,292,419
    2023 $1,708,597,273 $161,296,905 $209,895,497 View
    2022 $1,673,670,064 $324,652,362 $228,370,471 View
    2021 $1,683,793,346 $325,590,260 $198,258,173 View
    2020 $1,201,631,617 $182,767,888 $240,461,702 View
    2019 $1,270,928,403 $165,527,614 $175,809,198 View

    Prior year filings: 2018, 2017, 2016, 2015, 2014, 2013, 2012, 2011

    Revenue Detail

    Expenses Detail

    Employee Compensation

    • Number of Employees: 157

    Highest Earning Employees

    EmployeeTitleTotal Compensation
    M Lee PeltonPresident & CEO$915,854
    Kate GuedjSVP and Chief Phil. Off.$469,241
    George C WilsonAssistant Treasurer$461,064
    Brian DouglasCFO & Treasurer$428,399
    Keith MahoneyVP, Comm. & Public Affairs$367,340
    Orlando WatkinsVP & Chief Prog. Officer$362,123
    Leigh GasperAsst.Sec.& VP$296,531
    Leslie PineMgr Partner, TPI$289,646
    Jane DixonVP, HR & Culture and Talent$281,715
    Nalia BolusVP&Dir of the Campaign for a Greater Boston$252,206
    Margaret AlexanderPartner, TPI$245,458
    Rupal DandiaVP Development/Deshpande$214,000
    Soni GuptaAssociate VP Programs$208,339
    Kristen O'ConnellSecretary (1/3/24-11/8/24)$123,086

    Grant Activity

    All-time grants received statistics from Candid dataset:

    • Total Grant Value: $561,648,946
    • Number of Grants: 4,045
    • Number of Funders: 558

    Selection of highest value grants received from the last seven years:

    AmountYearFunderSubject
    $20,000,0002024 Foundation to Promote Open SocietyTO SUPPORT THE FOKAL DESIGNATED FUND
    $19,294,5442021 Fidelity Investments Charitable Gift FundFor grant recipient's exempt purposes
    $14,669,3862022 Fidelity Investments Charitable Gift FundFor grant recipient's exempt purposes
    $11,466,6972023 Furtherance Fund IncGENERAL SUPPORT
    $10,733,0402024 Pobble Stone FoundationCHARITABLE
    $8,500,0002021 Spector FoundationTHE FUNDS HELD BY THE BOSTON FOUNDATION ARE INTENDED TO BE DISTRIBUTED TO ORGANIZATIONS THAT ARE ORGANIZED AND OPERATED EXCLUSIVELY FOR RELIGIOUS, CHARITABLE, SCIENTIFIC, LITERARY, OR EDUCATIONAL PURPOSES.
    $7,700,0002023 P M Allen Family FoundationGENERAL OPERATIONS
    $7,569,3292023 Fidelity Investments Charitable Gift FundFor grant recipient's exempt purposes
    $5,675,6552021 The John & Mary Corcoran Family FoundationGENERAL SUPPORT SCHOLARS PROGRAM, COMMUNITY GRANTS, OLPH MISSION GRAMMAR, SOUTH BOSTON ACADEMY
    $5,400,0002024 P M Allen Family FoundationGENERAL OPERATIONS
    $5,160,9642020 The John & Mary Corcoran Family FoundationGENERAL SUPPORT SCHOLARS PROGRAM, COMMUNITY GRANTS, OLPH MISSION GRAMMAR, SOUTH BOSTON ACADEMY
    $4,773,0002023 James M and Cathleen D Stone Family Foundation IncPROGRAM SUPPORT
    $4,674,0002022 James M and Cathleen D Stone Family Foundation IncPROGRAM SUPPORT
    $4,500,0002022 P M Allen Family FoundationGENERAL OPERATIONS
    $4,462,0002020 James M and Cathleen D Stone Family Foundation IncPROGRAM SUPPORT
    $4,331,5592024 Horace a Moses Foundation C/o Boston Foundation IncGeneral Operating
    $4,278,0002020 The 300 Foundation C/o Rsm US LLPGENERAL SUPPORT TOWARDS CHARITALE MISSION
    $4,000,0002024 Spector FoundationTHE FUNDS HELD BY THE BOSTON FOUNDATION ARE INTENDED TO BE DISTRIBUTED TO ORGANIZATIONS THAT ARE ORGANIZED AND OPERATED EXCLUSIVELY FOR RELIGIOUS, CHARITABLE, SCIENTIFIC, LITERARY, OR EDUCATIONAL PURPOSES.
    $4,000,0002022 Spector FoundationTHE FUNDS HELD BY THE BOSTON FOUNDATION ARE INTENDED TO BE DISTRIBUTED TO ORGANIZATIONS THAT ARE ORGANIZED AND OPERATED EXCLUSIVELY FOR RELIGIOUS, CHARITABLE, SCIENTIFIC, LITERARY, OR EDUCATIONAL PURPOSES.
    $4,000,0002020 Spector FoundationTHE FUNDS HELD BY THE BOSTON FOUNDATION ARE INTENDED TO BE DISTRIBUTED TO ORGANIZATIONS THAT ARE ORGANIZED AND OPERATED EXCLUSIVELY FOR RELIGIOUS, CHARITABLE, SCIENTIFIC, LITERARY, OR EDUCATIONAL PURPOSES.
    $3,500,0002020 P M Allen Family FoundationGENERAL OPERATIONS
    $3,199,0002021 James M and Cathleen D Stone Family Foundation IncPROGRAM SUPPORT
    $3,015,5002020 National Philanthropic TrustPublic, societal benefit
    $2,800,0002021 P M Allen Family FoundationGENERAL OPERATIONS
    $2,654,3942023 The Chicago Community Trustthe Mary Baldwin Foley Charitable Fund, the Ruth Mead McKay Charitable Fund

    All-time grants given statistics from Candid dataset:

    • Total Grant Value: $2,408,907,702
    • Number of Grants: 115,625
    • Number of Recipients: 13,853

    Selection of highest value grants given from the last seven years:

    AmountYearFunderSubject
    $21,667,6312020 Fidelity Investments Charitable Gift FundTransfer to DAF
    $15,000,0002022 The Miami FoundationTransfer to DAF
    $10,025,0002024 New Commonwealth FundGeneral Operating Support.
    $5,895,2772025 Bank of America Charitable Gift FundFor the Sozo Futures DAF.
    $5,221,9202020 President and Fellows of Harvard CollegeOperating Support/Annual Fund
    $5,205,6482021 President and Fellows of Harvard CollegeOperating Support/Annual Fund
    $5,000,0002025 Massachusetts General HospitalTo MGH Research Institute 2024 general operating support.
    $5,000,0002025 Trustees of Tufts CollegeTo Tufts University Friedman School of Nutrition Science and Policy: $4,500,000 for the Advancing Friedman Student Success Endowed Scholarship Fund and $500,000 for the Accelerating Friedman Student Success Scholarship Fund.
    $4,730,9412022 Fidelity Investments Charitable Gift FundTransfer to DAF
    $4,510,0002023 Social Finance, Inc.Operating Support/Annual Fund
    $4,003,7702025 United Negro College FundFor UNCF's Project ACCLAIM.
    $3,970,8222022 Trustees of Amherst CollegeOperating Support/Annual Fund
    $3,830,0002020 Kansas State University FoundationOperating Support/Annual Fund
    $3,439,7502020 YEAR UP UNITEDOperating Support/Annual Fund
    $3,375,0002020 Essex County Community FoundationEmergency Support
    $3,133,0002021 YEAR UP UNITEDOperating Support/Annual Fund
    $3,002,5002021 Northeastern UniversityOperating Support/Annual Fund
    $2,897,0002020 COMMUNITY FOUNDATION OF WESTERN MASSACHUSETTSEmergency Support
    $2,871,2532023 Dana-Farber Cancer Institute, Inc.Operating Support/Annual Fund
    $2,829,1772021 National Philanthropic TrustTransfer to DAF
    $2,750,0002022 New Venture FundCapital Campaign
    $2,717,9162020 Boston Ballet IncOperating Support/Annual Fund
    $2,713,8002021 SHARE WINTER FOUNDATIONOperating Support/Annual Fund
    $2,628,6062021 Massachusetts General HospitalOperating Support/Annual Fund
    $2,551,6912023 American Endowment FoundationTransfer to DAF

    References

    1. “Boston Foundation: Grants for Boston.” Inside Philanthropy. December 20, 2018. https://www.insidephilanthropy.com/grants-in-boston-fundraising/boston-foundation-boston-area-grants.html
    2. Press Release. “The Boston Foundation Announces Nearly $5.9 Million in Grants to Greater Boston Organization.” Sampan. October 23, 2019. https://sampan.org/2019/10/the-boston-foundation-announces-nearly-5-9-million-in-grants-to-greater-boston-organizations/
    3. The Boston Foundation. LinkedIn. Accessed April 18, 2020. https://www.linkedin.com/company/bostonfoundation/about/
    4. Boston Foundation, Return of Organization Exempt from Income Tax (Form 990), 2017, Schedule I
    5.  Who We Are. The Boston Foundation. Accessed April 18, 2020. https://www.tbf.org/who-we-are
    6. Banks, Doug. “Grogan to Step Down as Boston Foundation CEO.” The Business Journal. January 28, 2020. https://www.bizjournals.com/boston/news/2020/01/28/grogan-to-step-down-as-boston-foundation-ceo.html
    7. Dumcius, Gintautas. “Pelton Leaving Emerson to Take Helm of Boston Foundation.” Bizjournals.com, December 1, 2020. https://www.bizjournals.com/boston/news/2020/12/01/boston-foundation-ceo-lee-pelton-emerson-college.html
    8. “Meet the Moment – Trust-Based Philanthropy.” Trust Based Philanthropy . Accessed September 29, 2025. https://www.trustbasedphilanthropy.org/meet-the-moment#signatories.
    10. The Boston Foundation Project. Harvard School of Public Health. Accessed April 19, 2020. https://www.hsph.harvard.edu/women-and-health-initiative/the-boston-foundation-project/
    12. Paul S. Grogan. The Boston Foundation. Accessed April 23, 2020. https://www.tbf.org/who-we-are/people/senior-management/bios/paul-s-grogan
    13. BU Today Staff. “Lee Pelton, Veteran Educator and Philanthropic Leader, Joins Bu Board of Trustees.” Boston University, February 3, 2022. https://www.bu.edu/articles/2022/lee-pelton-joins-bu-board-of-trustees/.
    14. Sandra M. Edgerly. The Boston Foundation. Accessed April 24, 2020. https://www.tbf.org/who-we-are/people/board-of-directors/board/edgerley
    15.  Stephen Chan. The Boston Foundation. Accessed April 23, 2020. https://www.tbf.org/who-we-are/people/senior-management/bios/stephen-chan
    16. Keith Mahoney. LinkedIn. Accessed April 23, 2020. https://www.linkedin.com/in/keithmahoney/
    17. Kate Geudj. The Boston Foundation. Accessed April 23, 2020. https://www.tbf.org/who-we-are/people/senior-management/bios/kate-guedj
    18.  Orlando Watkins. The Boston Foundation. Accessed April 23, 2020. https://www.tbf.org/who-we-are/people/senior-management/bios/orlando-watkins
    19.  Return of Organization Exempt from Income Tax (Form 990). Boston Foundation. 2021. Part I. https://projects.propublica.org/nonprofits/organizations/42104021/202321319349305022/full