Boston Foundation Receives Record-Breaking $50 Million Donation
The Boston Foundation, a NEC member, recently received a $50 million donation – the largest in its 102-year history.
After almost a year of discussion with Curriculum Associates, a private Billerica, MA, educational technology company, the Boston Foundation was surprised with a gift that was almost double the amount they had anticipated receiving. The Foundation will receive the funds in the form of non-voting shares of the company and the transaction could be finalized as soon as this month. The funds will be split between three different areas of the Boston Foundation – the Permanent Fund which offers the most flexibility in grant-giving, a donor-advised fund created by Curriculum Associates and individual grants to specific non-profits.
“We’re having a good day here today,” Boston Foundation president Paul S. Grogan said. “It’s an act of extraordinary generosity. The magnitude of it is really stunning. It’s just an amazing development to have the largest gift in history. It’s a tremendous vote of confidence for someone to place these funds with us.”
The New England Council congratulates the Boston Foundation on receiving this generous gift and commends their continued investment in the city’s future. Read more in the Boston Globe.
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