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
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
No grants recorded for .
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
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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