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Non-profit

Lubin Family Foundation

Location:

Boston, MA
Tax ID:

22-2773808
Tax-Exempt Status:

501(c)(3)

Budget (2020):

Revenue: $13,537,947
Expenses: $9,922,753
Assets: $152,996,918
Formation:

1986 1

References

  1. Press Release. Dana Farber. “Cancer Institute Receives a Grant from Richard K. Lubin Family Foundation to Establish the Lubin Family Foundation Scholar Awards.” June 22, 2022. Accessed May 3, 2023. https://www.dana-farber.org/newsroom/news-releases/2022/dana-farber-cancer-institute-receives-a-grant-from-the-richard-k–lubin-family-foundation-to-establish-the-lubin-family-foundation-scholar-awards/

Contact InfluenceWatch with suggested edits or tips for additional profiles.

The Richard K. Lubin Family Foundation is a Boston, Massachusetts-based grantmaking organization that funds educational organizations, medical research, clinical care, and music and the visual arts in the greater Boston Region. 1

The organization is named for one of the co-founders of Berkshire Partners, a financial investment firm. 2

The foundation teamed with the Dana-Farber Cancer Institute in 2022 to establish the Lubin Family Foundation Scholar Award, in which four students will get a four-year financial award of $150,000 per year. 3

Background

The Richard K. Lubin Family Foundation was established in 1986 and based in Boston, Massachusetts. 4 5 The organization is named for Richard K. Lubin, one of the five co-founders of Berkshire Partners. 6

The grantmaking foundation focuses on the Greater Boston region directing money to projects involving education, medical research, clinical care, music and the visual arts. 7

As of 2023, the Richard K. Lubin Family Foundation board was made up of Richard and Nancy Lubin, Kate Lubin, Glen Sutton, and Emily and Greg Woods. 8

The foundation made a $1 million gift to build an in-patient building in 2020 for the Beth Israel Deaconess Medical Center. 9

Founder

Richard K. Lubin is among the five co-founders of Berkshire Partners, a private equity investing firm founded in 1986, and is now a senior advisor to the firm. Previously, Lubin was a partner at the Thomas H. Lee Company. 10

Lubin is the former CEO of FWD Corp., a construction equipment company. 11

Lubin has been on the board of 17 other companies. 12 13 These include SRS Distribution, Amscan, English Welsh and Scottish Railway, Electro-Motive Diesel, and Party City. 14 He has mostly contributed to Republican political candidates but has also given political donations to some Democrats, according to OpenSecrets, a website published by Center for Responsive Politics. 15 After earning a bachelor’s degree from the University of Pennsylvania and an M.B.A. from Harvard Business School, he began his career in consulting focusing on turning under-performing companies around. 16

Scholar Award

The Richard K. Lubin Family Foundation partners with the Dana-Farber Cancer Institute and established the Lubin Family Foundation Scholar Award in 2022. The award provides mentoring and financial assistance to four Lubin Scholars annually over a four-year period to help launch careers in medicine and research. 17

The Lubin Family Foundation contends the award will help to ensure retention of Boston-based physician-scientists. 18 Lubin Scholars will receive a four-year financial award of $150,000 per year and work under a Lubin Scholar mentor. 19 20

References

  1. “Lubin Family Foundation.” Pitchbook. Accessed May 3, 2023. https://pitchbook.com/profiles/limited-partner/64875-25
  2. “Richard K. Lubin.” Berkshire Partners. Accessed May 5, 2023. https://berkshirepartners.com/team/richard-lubin/
  3. McGrath, Cassie. “Dana-Farber offers $150K grants for early career physician-scientists.” Boston Business Journal. June 23, 2022. Accessed May 3, 2023. https://www.bizjournals.com/bostosn/news/2022/06/23/dana-farber-offers-150k-grants-for-early-career-p.html
  4. “Richard K. Lubin Family Foundation.” Cause IQ. Accessed May 3, 2023. https://www.causeiq.com/organizations/richard-k-lubin-family-foundation,222773808/
  5. Press Release. Dana Farber. “Cancer Institute Receives a Grant from Richard K. Lubin Family Foundation to Establish the Lubin Family Foundation Scholar Awards.” June 22, 2022. Accessed May 3, 2023. https://www.dana-farber.org/newsroom/news-releases/2022/dana-farber-cancer-institute-receives-a-grant-from-the-richard-k–lubin-family-foundation-to-establish-the-lubin-family-foundation-scholar-awards/
  6. “Richard K. Lubin.” Berkshire Partners. Accessed May 5, 2023. https://berkshirepartners.com/team/richard-lubin/
  7. “Lubin Family Foundation.” Pitchbook. Accessed May 3, 2023. https://pitchbook.com/profiles/limited-partner/64875-25
  8. Press Release. Dana Farber. “Cancer Institute Receives a Grant from Richard K. Lubin Family Foundation to Establish the Lubin Family Foundation Scholar Awards.” June 22, 2022. Accessed May 3, 2023. https://www.dana-farber.org/newsroom/news-releases/2022/dana-farber-cancer-institute-receives-a-grant-from-the-richard-k–lubin-family-foundation-to-establish-the-lubin-family-foundation-scholar-awards/
  9. “Building on a Decade of Lifesaving Care.” Beth Israel Deaconess Medical Center. Accessed May 3, 2023. https://giving.bilh.org/bethisraeldeaconessmedicalcenter/philanthropy-news/one-familys-impact/
  10. “Richard K. Lubin.” Berkshire Partners. Accessed May 5, 2023. https://berkshirepartners.com/team/richard-lubin/
  11.  “Richard K. Lubin.” Market Screener. Accessed May 5, 2023. https://www.marketscreener.com/business-leaders/Richard-Lubin-001LFR-E/biography/
  12. “Richard Lubin.” Portillos. Accessed May 5, 2023. https://investors.portillos.com/board-member/richard-lubin
  13. “Richard K. Lubin.” Market Screener. Accessed May 5, 2023. https://www.marketscreener.com/business-leaders/Richard-Lubin-001LFR-E/biography/
  14. “Richard Lubin Overview.” PitchBook. Accessed May 5, 2023. https://pitchbook.com/profiles/person/11515-06P#overview
  15. Search for Richard K. Lubin under donors. Open Secrets. Accessed May 5, 2023. https://www.opensecrets.org/search?q=Richard+K+Lubin&type=donors
  16. “Richard K. Lubin.” Berkshire Partners. Accessed May 5, 2023. https://berkshirepartners.com/team/richard-lubin/
  17. “Lubin Family Foundation Scholar Award.” Dana Farber Cancer Institute. Accessed May 3, 2023. https://www.dana-farber.org/research/our-researchers/lubin-family-foundation-scholar-award/
  18. “Lubin Family Foundation Scholar Award.” Dana Farber Cancer Institute. Accessed May 3, 2023. https://www.dana-farber.org/research/our-researchers/lubin-family-foundation-scholar-award/
  19. Press Release. Dana Farber. “Cancer Institute Receives a Grant from Richard K. Lubin Family Foundation to Establish the Lubin Family Foundation Scholar Awards.” June 22, 2022. Accessed May 3, 2023. https://www.dana-farber.org/newsroom/news-releases/2022/dana-farber-cancer-institute-receives-a-grant-from-the-richard-k–lubin-family-foundation-to-establish-the-lubin-family-foundation-scholar-awards/
  20. McGrath, Cassie. “Dana-Farber offers $150K grants for early career physician-scientists.” Boston Business Journal. June 23, 2022. Accessed May 3, 2023. https://www.bizjournals.com/bostosn/news/2022/06/23/dana-farber-offers-150k-grants-for-early-career-p.html
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Nonprofit Information

  • Accounting Period: December - November
  • Tax Exemption Received: March 1, 1987

    • Available Filings

    Period Form Type Total revenue Total functional expenses Total assets (EOY) Total liabilities (EOY) Unrelated business income? Total contributions Program service revenue Investment income Comp. of current officers, directors, etc. Form 990
    2020 Dec Form PF $13,537,947 $9,922,753 $152,996,918 $1,196,682 $0 $0 $0 $0
    2019 Dec Form PF $23,926,038 $7,218,043 $148,854,654 $57,965 $0 $0 $0 $0 PDF
    2015 Dec Form PF $12,406,356 $2,021,441 $64,810,771 $22,300 $0 $0 $0 $0 PDF
    2014 Dec Form PF $25,025,542 $1,233,865 $55,248,710 $40,388 $0 $0 $0 $0 PDF
    2013 Dec Form PF $12,483,631 $1,708,447 $41,845,845 $1,500 $0 $0 $0 $0 PDF
    2012 Dec Form PF $18,240,412 $3,172,596 $34,106,706 $459,681 $0 $0 $0 $0 PDF
    2011 Dec Form PF $5,344,058 $2,003,366 $22,973,785 $1,500 $0 $0 $0 $0 PDF

    Additional Filings (PDFs)

    Lubin Family Foundation

    200 Clarendon St., 35th Floor
    Boston, MA 02116