Non-profit

Limestone Foundation

Location:

Boston, MA

Tax ID:

47-7017224

Tax-Exempt Status:

501(c)(3)

Formation:

2015

Type:

Left-of-center grant making Family Foundation

Leadership:

Board of Trustees

The Limestone Foundation is a left-of-center family foundation that is one of two successor organizations of the left-of-center Stoneman Family Foundation formed by one of two daughters of Sidney and Miriam Stoneman and her children. [1] The foundation continues the Stoneman grantmaking philosophy in making grants to Jewish organizations, Boston area charities, and other organizations which are of interest to the leadership. [2]

History

Founded in 2015, the left-of-center Limestone Foundation is one of two successor organizations of the Stoneman Family Foundation which was dissolved in 2016 and had 43% of its assets distributed to Limestone. [3] The Chestnut Fund is the other successor organization.

After the death of Sidney Stoneman and his wife Miriam, conflict arose over grantmaking decisions. The daughters and their families came to the decision to dissolve the Stoneman Family Foundation and form two separate foundations as the best way to resolve the conlict. [4]

Grantmaking Philosophy

The foundation in the near term has continued to make grants funding multiple Jewish and Boston area charities as well as funding to left-of-center causes such as

the Mountain Association for Community Economic Development, Pico National Network, the Ballot Initiative Strategy Center, and State Voices. [5]

Funding

Limestone Foundation reported 2017 income of $2,971,509, assets of $54,155,227, and offset by expenses of $2,411,843 including grants of $1,452,843. Goulston & Storrs received $136,058 (Alan Rottenberg, trustee, is a Director of Goulston) [6] for investment and legal services. [7]

No compensation was paid to trustees or internal management. [8]

Donation Recipients

  • Georgia Budget and Policy Institute
  • Center on Budget and Policy Priorities
  • West Virginia Center on Budget and Policy Inc.
  • The Urban Institute
  • The Commonwealth Institute for Fiscal Analysis
  • The Chapin School
  • The Brearley School
  • The American Prospect
  • State Voices
  • Safe Passage Project Corporation
  • Pico National Network
  • Oklahoma Policy Institute
  • New York Women’s Foundation
  • New Venture Fund
  • Mountain Association for Community Economic Development
  • Jewish Arts Collaborative
  • Institute on Taxation and Economic Policy
  • Fund for Constitutional Government
  • Endeavor Global Inc.
  • Brookline Community Foundation
  • Boston Symphony Orchestra
  • Beth Israel Deaconess Medical Center
  • Ballot Initiative Strategy Center Foundation

References

  1. guidestar.org. Accessed November 25, 2019. https://www.guidestar.org/profile/47-7017224. ^
  2. “A Family Establishes a Statement of Legacy: the Stoneman Family Foundation.” NCFP. Accessed November 25, 2019. https://www.ncfp.org/knowledge/a-family-establishes-a-statement-of-legacy/. ^
  3. Stoneman Family Foundation Return of Organization Exempt from Income Tax (Form990-PF) 2015 Statement 11 ^
  4. “A Family Establishes a Statement of Legacy: the Stoneman Family Foundation.” NCFP. Accessed November 25, 2019. https://www.ncfp.org/knowledge/a-family-establishes-a-statement-of-legacy/. ^
  5. Chestnut Fund, Return of Private Foundation (990-PF), 2017, Part XV Line 3. ^
  6. “Biography Alan W. Rottenberg.” Goulston & Storrs PC. Accessed November 25, 2019. https://www.goulstonstorrs.com/alan-w-rottenberg/. ^
  7. Chestnut Fund, Return of Private Foundation (990-PF), 2017,  Part I Line 12, Line I, Part I Lines 26, 25, Part VIII Line 3. ^
  8. Chestnut Fund, Return of Private Foundation (990-PF), 2017, Part VIII Statement 11 ^
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Nonprofit Information

  • Accounting Period: December - November
  • Tax Exemption Received: July 1, 2015

  • Available Filings

    Additional Filings (PDFs)

    Limestone Foundation

    400 ATLANTIC AVE
    Boston, MA 02110-3331