Karp Family Foundation Stephen R and
The Karp Family Foundation is a private family foundation established in 1994 and based in Boston, Massachusetts. It serves as the primary philanthropic vehicle for Stephen R. Karp, founder and CEO of New England Development, and his wife Jill E. Karp. The foundation operates with no paid staff, with Stephen and Jill Karp serving as the sole trustees.
Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$918K
+71.0% YoY
Annual Giving
$2.0M
-51.4% YoY
Grant Count
31
-59.7% YoY
Avg Grant Size
$65K
+20.6% YoY
Under IRS private-foundation payout rules, Karp Family Foundation Stephen R and reported a distributable amount of $7K for 2025 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation gives primarily for:
- Health organizations (including children's hospitals and medical centers)
- Education
- Human services
- Youth programs
- Arts and culture
- Jewish organizations and causes
The foundation does not operate formal grant programs but supports organizations across these key areas based on the trustees' personal involvement on nonprofit boards and relationships within Boston's philanthropic community.
Grantmaking
The foundation does not accept unsolicited proposals. Grantmaking is by invitation only, with funding decisions based on the trustees' personal interests and relationships. The foundation maintains no website or published grantmaking guidelines.
Grant Range
s:**
Average Grant
approximately $10,000
How to Apply
**
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Geographic Focus
Where this funder awards grants
Primary focus on Greater Boston and Massachusetts, with some national giving. Recent grantmaking has been expanding across Massachusetts. The foundation also supports work focused on Israel.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
FY 2024:
- Total assets: $536,800
- Total revenues: $3,937,344
- Total expenses: $4,239,326
- Annual giving: $4,144,929
- Number of employees: 0
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $917,856 | $536,800 | $852,467 |
| Revenue | $2,453,707 | $3,937,344 | $4,742,051 |
| Expenses | $2,065,651 | $4,239,326 | $4,497,454 |
| Qualifying Distributions | $2,012,884 | $4,144,929 | $4,426,490 |
| Net Investment Income | $1,316,912 | $2,563,126 | $3,062,763 |
| Distributable Amount | $7,213 | — | $43,710 |
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 2025
Grant Size Distribution
154 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2025 grants, the largest include Facing History & Ourselves ($500,000), Boston Youth Sanctuary ($400,000), Union College ($400,000).
| Recipient | Purpose | Amount |
|---|---|---|
| BELMONT HILL SCHOOL BELMONT, MA | CHARITABLE CONTRIBUTION | $50,000 |
| BOSTON CHILDREN'S MUSEUM BOSTON, MA | CHARITABLE CONTRIBUTION | $1,000 |
| BOSTON SYMPHONY ORCHESTRA BOSTON, MA | CHARITABLE CONTRIBUTION | $10,000 |
| BOSTON YOUTH SANCTUARY DORCHESTER CENTER, MA | CHARITABLE CONTRIBUTION | $400,000 |
| BOYS AND GIRLS CLUB OF BOSTON BOSTON, MA | CHARITABLE CONTRIBUTION | $10,000 |
| COMBINED JEWISH PHILANTHROPIES BOSTON, MA | CHARITABLE CONTRIBUTION | $20,000 |
| CROSSROADS DUXBURY, MA | CHARITABLE CONTRIBUTION | $25,000 |
| DANA-FARBER BROOKLINE, MA | CHARITABLE CONTRIBUTION | $100 |
| FACING HISTORY & OURSELVES BROOKLINE, MA | CHARITABLE CONTRIBUTION | $500,000 |
| FRESHMAN FRESH START WELLESLEYHILLS, MA | CHARITABLE CONTRIBUTION | $5,500 |
Leadership & Key People
Leadership team and compensation from IRS filings
Trustees:
- Stephen R. Karp (Founder, Chairman, and CEO of New England Development)
- Jill E. Karp
Stephen R. Karp is a prominent real estate developer who entered the shopping center business in the late 1960s, developing one of the first enclosed malls in the Northeast. He founded New England Development in Boston and has built a national portfolio of retail destinations, mixed-use developments, and luxury hospitality properties. Karp serves as trustee and immediate past chair of Boston Children's Hospital's Board of Trustees.
Compensation Overview
From 2025 IRS filing
From 2025 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| STEPHEN R KARP | TRUSTEE | 0.2 | — |
| JILL E KARP | TRUSTEE | 0.2 | — |
Contact Information
Address: c/o New England Development, 75 Park Plaza, Third Floor, Boston, MA 02116
Phone: (617) 965-8700
EIN: 04-3226725
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Karp Family Foundation Stephen R and fund?
The foundation gives primarily for: • **Health organizations** (including children's hospitals and medical centers) • **Education** • **Human services** • **Youth programs** • **Arts and culture** • **Jewish organizations and causes** The foundation does not operate formal grant programs but supports organizations across these key areas based on the trustees' personal involvement on nonprofit boards and relationships within Boston's philanthropic community.
How do I apply for a grant from Karp Family Foundation Stephen R and?
**Grant Activity:** • FY 2024: 77 grants totaling $4,144,929 • FY 2023: 29 awards • FY 2022: 14 awards **Grant Sizes:** • Typical grant range: $5,000 - $50,000 • Overall range: $800 - $1,990,000 • Average grant: approximately $10,000 **Application Process:** The foundation does not accept unsolicited proposals. Grantmaking is by invitation only, with funding decisions based on the trustees' personal interests and relationships. The foundation maintains no website or published grantmaking guidel…
Where does Karp Family Foundation Stephen R and make grants?
Primary focus on Greater Boston and Massachusetts, with some national giving. Recent grantmaking has been expanding across Massachusetts. The foundation also supports work focused on Israel.
What size grants does Karp Family Foundation Stephen R and award?
In 2025, Karp Family Foundation Stephen R and awarded 31 grants totaling $2.0M — an average of about $65K per grant, based on its IRS Form 990 filings.
How much is Karp Family Foundation Stephen R and required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2025, Karp Family Foundation Stephen R and reported a distributable amount of $7K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Karp Family Foundation Stephen R and's EIN?
Karp Family Foundation Stephen R and's EIN (Employer Identification Number) is 04-3226725. IRS Form 990 filing data is available on this page for 2021–2025.
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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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