The Boston Foundation Receives $28 Million Gift

New England Council member The Boston Foundation recently received an estimated $28 million gift from the sale of a Boston-area business.

Curriculum Associates, a private educational technology company, recently transferred majority ownership to the Iowa State University Foundation in the form of nonvoting shares. When the university sells the shares as expected within five years, it will donate a portion of the proceeds to The Boston Foundation. While the exact amount of the donation depends on how the company’s value changes over time before the shares are sold, the gift is expected to be the Foundation’s second largest ever received at around $28 million. Part of the gift will go towards The Boston Foundation’s Permanent Fund, which offers the most grant-giving flexibility.

“The importance of this gift and the grant-making and civic leadership work it will support cannot be overstated,” added Paul S. Grogan, President and CEO of The Boston Foundation. “The Boston Foundation will be forever grateful to the rest of the Curriculum Associates family for its generosity.”

The New England Council congratulates The Boston Foundation on this substantial gift. Read more in The Boston Foundation’s press release, The Boston Globe, and The NonProfit Times.

Recently from the Blog

November 24 Weekly Round-Up: NEC Members Contribute to COVID-19 Crisis Response

11/24/2020 | Read Post

MassDevelopment Issues Bond for New Perkins School Building and Dorm

11/19/2020 | Read Post

In the News

NEC Elects Six Respected Regional Business Leaders to Board of Directors

09/28/2020 | Read Press Release

NEC Announces 2020 New Englanders of the Year

08/25/2020 | Read Press Release