The James M. and Cathleen D. Stone Family Foundation is a private foundation that mainly funds various “Stone Centers” at large universities in the United States and abroad, which support economic and policy research related to wealth inequality.

Background and Activities

The James M. and Cathleen D. Stone Family Foundation was founded in April 1995 by husband and wife James M. and Cathleen D. Stone in Boston, Massachusetts. ¹

The main activity of the James M. and Cathleen D. Stone Family Foundation is the funding of various “Stone Centers” at notable domestic and foreign universities, which generate and support academic research on economic inequality, wealth distribution, and social policy. Universities with Stone Centers include Harvard, City University of New York, Brown, University of Michigan, University College London, and the Institut Européen d’Administration des Affaires business school in France. ²

Recipients of grants from the James M. and Cathleen D. Stone Family Foundation, aside from the foundation’s various Stone Centers, include the Boston Foundation and the President and Fellows of Harvard College. ^{3 4}

People

Cathleen D. Stone is president of the James M. and Cathleen D. Stone Foundation. Previously, she was of counsel and partner of the Boston law firm Foley, Hoag & Eliot specializing in environmental and administrative law, the City of Boston’s chief of environmental service, and commissioner for the Boston Water and Sewer Commission. ⁵

Stone sits on the board of directors for Boston Harbor Now, the Wilderness Society, and WBUR Boston (Boston’s local National Public Radio affiliate). She is also a member of the honorary committee of the Museum of African American History Stone Book Award and the advisory committee of the School of Public Policy and Urban Affairs at Northeastern University. Formerly, Stone was chair of the board of directors for the Museum of African American History and as a member of the boards of The Nature Conservancy, National Public Radio, the Supreme Court Historical Society, and MATCH Public Charter High School. ⁶

James Stone is the chair of the board and a trustee of the James M. and Cathleen D. Stone Foundation. He is the founder and CEO of the Plymouth Rock consortium of insurance companies. Previously, Stone taught economics at Harvard University, served as the insurance commissioner for the Commonwealth of Massachusetts, and was chairman of the U.S. Commodity Futures Trading Commission. ⁷

Stone is a member of the executive committee of Cold Spring Harbor Laboratory, on the board of directors of ProPublica, a chair of EdVestors’ School on the Move Prize Panel, and a fellow of the American Academy of Arts and Sciences. Formerly, Stone was a member of the board of directors of the Boston Globe, the Global Post, and Management Sciences for Health. ⁸

1. “JAMES M AND CATHLEEN D STONE FAMILY FOUNDATION INC.” ProPublica. Accessed May 16, 2022. https://projects.propublica.org/nonprofits/organizations/43246517
2. Reynolds, Kyle. “Foundation gives Harvard $5 million to study ‘wealth inequality.’” The College Fix. April 18, 2022. Accessed May 16, 2022. https://www.thecollegefix.com/foundation-gives-harvard-5-million-to-study-wealth-inequality/
3. “Boston Foundation: Grants for Boston.” Inside Philanthropy. Accessed May 16, 2022. https://www.insidephilanthropy.com/grants-in-boston-fundraising/boston-foundation-boston-area-grants.html
4. JAMES M AND CATHLEEN D STONE FAMILY FOUNDATION INC. Return of Private Foundation (Form 990-PF). 2019. https://projects.propublica.org/nonprofits/display_990/43246517/08_2021_prefixes_01-20%2F043246517_201906_990_2021081118704324
5. “About James M. Stone and Cathleen D. Stone.” Harvard University: Stone Program in Wealth Distribution, Inequality, and Social Policy. Accessed May 16, 2022.  https://inequality.hks.harvard.edu/about-james-m-and-cathleen-d-stone
6.  “About James M. Stone and Cathleen D. Stone.” Harvard University: Stone Program in Wealth Distribution, Inequality, and Social Policy. Accessed May 16, 2022.  https://inequality.hks.harvard.edu/about-james-m-and-cathleen-d-stone
7. “About James M. Stone and Cathleen D. Stone.” Harvard University: Stone Program in Wealth Distribution, Inequality, and Social Policy. Accessed May 16, 2022.  https://inequality.hks.harvard.edu/about-james-m-and-cathleen-d-stone
8. “About James M. Stone and Cathleen D. Stone.” Harvard University: Stone Program in Wealth Distribution, Inequality, and Social Policy. Accessed May 16, 2022. https://inequality.hks.harvard.edu/about-james-m-and-cathleen-d-stone