MFS Investment Management Foundation Inc
MFS Investment Management Foundation Inc is a private grantmaking foundation based in Boston, Massachusetts. The organization is designated as a 501(c)(3) nonprofit and has been tax-exempt since January 2022. The foundation operates as a private foundation focused on philanthropic grantmaking activities.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$20.2M
+48.3% YoY
Annual Giving
$1.7M
+45.8% YoY
Grant Count
36
+38.5% YoY
Avg Grant Size
$48K
+5.3% YoY
Under IRS private-foundation payout rules, MFS Investment Management Foundation Inc reported a distributable amount of $694K for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation's grant-making priorities include Education, Philanthropy, Voluntarism & Grantmaking, and Human Services. The organization demonstrates a commitment to advancing financial literacy and community impact initiatives.
Grantmaking
The foundation has supported programs including children's services initiatives and community-based organizations focused on education and human services.
Average Grant
amount and median grant amount data are tracked but specific figures vary by filing year
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Geographic Focus
Where this funder awards grants
The foundation primarily directs funding to Massachusetts, New York, and Wisconsin.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Assets & Revenue (2023):
- Total assets: $13.6 million
- Revenue: $3.58 million
- Expenses: $1.28 million
- Total liabilities: $0
Updated Asset Information: More recent data indicates total assets of $20,230,006.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $20,230,006 | $13,638,119 | $11,337,079 |
| Revenue | $8,436,872 | $3,583,020 | $145,632 |
| Expenses | $1,844,985 | $1,281,980 | $808,773 |
| Qualifying Distributions | $1,835,186 | $1,275,956 | $807,570 |
| Net Investment Income | $715,083 | $539,482 | $145,632 |
| Distributable Amount | $694,349 | $554,512 | $576,464 |
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
90 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include American Online Giving Foundation Inc ($747,760), City Year Inc ($200,000), Horizons for Homeless Children Inc ($150,000).
| Recipient | Purpose | Amount |
|---|---|---|
| AMERICAN CANCER SOCIETY ATLANTA, GA | General & Unrestricted | $2,000 |
| AMERICAN FRIENDS OF UN TECHO PARA MI PAIS INC MIAMI, FL | General & Unrestricted | $5,000 |
| AMERICAN NATIONAL RED CROSS MEDFORD, MA | General & Unrestricted | $50,000 |
| AMERICAN ONLINE GIVING FOUNDATION INC NEWARK, DE | General & Unrestricted | $747,760 |
| AYOTI FOUNDATION INCORPORATION FRAMINGHAM, MA | General & Unrestricted | $3,333 |
| BAGLY INC BOSTON, MA | General & Unrestricted | $10,000 |
| BOSTON CASA INC BOSTON, MA | General & Unrestricted | $15,000 |
| BOYS AND GIRLS CLUBS OF BOSTON INC BOSTON, MA | General & Unrestricted | $5,000 |
| BRIDGE OVER TROUBLED WATERS INC BOSTON, MA | General & Unrestricted | $2,000 |
| CHARLES RIVER CLEAN UP BOAT BOSTON, MA | General & Unrestricted | $1,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Heidi W Hardin | Clerk, Dir | 1 | — |
| Amrit A Kanwal | Dir, Treas | 1 | — |
| Mark A Leary | Dir, Pres | 1 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does MFS Investment Management Foundation Inc fund?
The foundation's grant-making priorities include Education, Philanthropy, Voluntarism & Grantmaking, and Human Services. The organization demonstrates a commitment to advancing financial literacy and community impact initiatives.
How do I apply for a grant from MFS Investment Management Foundation Inc?
**Grant Activity:** • Total giving: $1,721,759 (based on most recent filing) • Typical award range: $500–$747,760 • Average grant amount and median grant amount data are tracked but specific figures vary by filing year **Recent Grantmaking Examples:** The foundation has supported programs including children's services initiatives and community-based organizations focused on education and human services.
Where does MFS Investment Management Foundation Inc make grants?
The foundation primarily directs funding to Massachusetts, New York, and Wisconsin.
What size grants does MFS Investment Management Foundation Inc award?
In 2024, MFS Investment Management Foundation Inc awarded 36 grants totaling $1.7M — an average of about $48K per grant, based on its IRS Form 990 filings.
How much is MFS Investment Management Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, MFS Investment Management Foundation Inc reported a distributable amount of $694K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is MFS Investment Management Foundation Inc's EIN?
MFS Investment Management Foundation Inc's EIN (Employer Identification Number) is 87-1687549. IRS Form 990 filing data is available on this page for 2021–2024.
Explore Open Grants
Browse active grant opportunities in MFS Investment Management Foundation Inc's focus areas in our free grants database
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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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