Carl & Ruth Shapiro Family Foundation
The Carl and Ruth Shapiro Family Foundation is a private foundation based in Wellesley, Massachusetts, established in 1961. The foundation was created by Carl Shapiro, a successful businessman who founded Kay Windsor, Inc. in 1939—a women's apparel manufacturing and importing company based in New York and New Bedford, Massachusetts that became one of the largest in the country. The foundation aims to enhance the quality of life for all Bostonians through strategic philanthropic partnerships with community-based organizations.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$28.5M
-6.7% YoY
Annual Giving
$2.9M
+9.5% YoY
Grant Count
93
+9.4% YoY
Avg Grant Size
$32K
+0.1% YoY
Under IRS private-foundation payout rules, Carl & Ruth Shapiro Family Foundation reported a distributable amount of $1.8M for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation's mission centers on creating partnerships with vital community-based organizations across Greater Boston and beyond. Current funding interests include:
- Arts and Culture
- Health and Hospitals
- Early Childhood Education
- Disability Inclusion and Empowerment
- Human Services
- Youth Arts
- Social Justice and Racial Equity
The foundation's strategic grantmaking combines traditional interest areas with exploration of new ones. It maintains an ongoing interest in making significant capital investments in major cultural, health, and educational institutions throughout Greater Boston, while also focusing on creating partnerships with community-based organizations that advance social justice by addressing unmet needs of individuals and families.
Grantmaking
In 2022, the foundation made grants totaling approximately $1.7 million, growing its giving by approximately 30% from the previous year and increasing the number of community-based grantees by almost 50%. In 2021, the foundation made grants totaling approximately $1.3 million, growing its giving by more than 70% from the previous year and doubling the total number of organizations that received support in its community-based and institutional support categories.
Grant Range
s and Activity
Average Grant
amount:** Varies by year
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Geographic Focus
Where this funder awards grants
The foundation primarily funds organizations in:
- Greater Boston, Massachusetts (primary focus)
- Massachusetts
- Florida
- New York
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Assets and Giving
- Total assets (2024): $28,497,680
- Total assets (2023): $30,500,000
- Total revenues (2024): $1,328,335
- Total expenses (2024): $3,217,080
- Investment income and dividends (2024): $1,070,805
Historical Context
The foundation experienced significant financial challenges following the Bernard Madoff fraud. In December 2008, the foundation lost approximately $145 million in Madoff's Ponzi scheme. The foundation suspended new grants in 2009 following Madoff's arrest, reporting losses of more than half a billion dollars in the fraud. Carl Shapiro agreed in late 2010 to pay $625 million to Madoff victims to settle government claims. The foundation resumed grant making in 2011.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $28,497,680 | $30,549,876 | $11,020,290 |
| Revenue | $1,328,335 | $22,455,595 | $1,909,480 |
| Expenses | $3,217,080 | $2,918,114 | $1,843,680 |
| Qualifying Distributions | $3,033,553 | $2,833,589 | $1,805,671 |
| Net Investment Income | $1,138,675 | $5,202,362 | $389,310 |
| Distributable Amount | $1,791,017 | $1,097,939 | $1,236,319 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
234 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Beth Israel Deaconess Hospital ($870,000), Brimmer and May School ($100,000), Combined Jewish Philanthropies ($100,000).
| Recipient | Purpose | Amount |
|---|---|---|
| 826 BOSTON ROXBURY, MA | GENERAL PURPOSES OF THE ORGANIZATION | $15,000 |
| ACCESSPORTAMERICA ACTON, MA | GENERAL PURPOSES OF THE ORGANIZATION | $20,000 |
| ARTISTS FOR HUMANITY BOSTON, MA | GENERAL PURPOSES OF THE ORGANIZATION | $20,000 |
| BAPTIST HEALTH SOUTH FLORIDA FOUNDATION CORAL GABLES, FL | GENERAL PURPOSES OF THE ORGANIZATION | $10,000 |
| BAY COVE HUMAN SERVICES BOSTON, MA | GENERAL PURPOSES OF THE ORGANIZATION | $10,000 |
| BENJAMIN FRANKLIN CUMMINGS INSTITUTE OF TECHNOLOGY BOSTON, MA | GENERAL PURPOSES OF THE ORGANIZATION | $20,000 |
| BEST BUDDIES INTERNATIONAL INC MIAMI, FL | GENERAL PURPOSES OF THE ORGANIZATION | $20,000 |
| BETH ISRAEL DEACONESS HOSPITAL BOSTON, MA | GENERAL PURPOSES OF THE ORGANIZATION | $870,000 |
| BOSTON ALLIANCE OF LGBTQ YOUTH BOSTON, MA | GENERAL PURPOSES OF THE ORGANIZATION | $3,750 |
| BOSTON CHILDREN'S CHORUS BOSTON, MA | GENERAL PURPOSES OF THE ORGANIZATION | $7,500 |
Leadership & Key People
Leadership team and compensation from IRS filings
According to the most recent filings, the foundation's leadership includes:
- Linda S. Waintrup (Secretary)
- Ellen S. Jaffe (Trustee)
- Jennifer S. Herman (Trustee)
- Jonathan M. Segal (Trustee)
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| LINDA S WAINTRUP | SECRETARY | 4 | — |
| ELLEN S JAFFE | TRUSTEE | 4 | — |
| JENNIFER S HERMAN | TRUSTEE | 4 | — |
| JONATHAN M SEGAL | TRUSTEE | 4 | — |
Contact Information
- Address: 1 Washington Street, Suite 201, Wellesley, MA 02481-1706
- Phone: 781-235-6107
- Website: www.shapirofamilyfdn.org
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Carl & Ruth Shapiro Family Foundation fund?
The foundation's mission centers on creating partnerships with vital community-based organizations across Greater Boston and beyond. Current funding interests include: • **Arts and Culture** • **Health and Hospitals** • **Early Childhood Education** • **Disability Inclusion and Empowerment** • **Human Services** • **Youth Arts** • **Social Justice and Racial Equity** The foundation's strategic grantmaking combines traditional interest areas with exploration of new ones. It maintains an ongoing …
How do I apply for a grant from Carl & Ruth Shapiro Family Foundation?
• **Total giving (2024):** $2,937,500 • **Total giving (2023):** $2,800,000 • **Total giving (2022):** Approximately $1.7 million • **Total giving (2021):** Approximately $1.3 million • **Typical award range:** $500,000–$870,000 • **Median grant amount:** $20,000 • **Average grant amount:** Varies by year In 2022, the foundation made grants totaling approximately $1.7 million, growing its giving by approximately 30% from the previous year and increasing the number of community-based grantees by…
Where does Carl & Ruth Shapiro Family Foundation make grants?
The foundation primarily funds organizations in: • **Greater Boston, Massachusetts** (primary focus) • **Massachusetts** • **Florida** • **New York**
What size grants does Carl & Ruth Shapiro Family Foundation award?
In 2024, Carl & Ruth Shapiro Family Foundation awarded 93 grants totaling $2.9M — an average of about $32K per grant, based on its IRS Form 990 filings.
How much is Carl & Ruth Shapiro Family Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Carl & Ruth Shapiro Family Foundation reported a distributable amount of $1.8M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Carl & Ruth Shapiro Family Foundation's EIN?
Carl & Ruth Shapiro Family Foundation's EIN (Employer Identification Number) is 04-6135027. IRS Form 990 filing data is available on this page for 2020–2024.
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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