Telemachus and Irene Demoulas Family
The Telemachus and Irene Demoulas Family Foundation is a private family foundation established in January 2002 and based in Chelmsford, Massachusetts. The foundation is named after Telemachus "Mike" Demoulas (1920-2003) and Irene Psoinos Demoulas (1925-2020), who founded the modern Market Basket supermarket enterprise, building it from a single store in Lowell, Massachusetts into a major New England grocery chain. The foundation reflects the family's Greek-American heritage and deep roots in the Lowell community.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$201.2M
+0.2% YoY
Annual Giving
$7.9M
+158.4% YoY
Grant Count
11
+0.0% YoY
Avg Grant Size
$719K
+158.4% YoY
Mission & Focus Areas
The foundation concentrates its funding on three primary areas:
- Hospital and health organizations
- Schools, colleges, and universities
- Youth organizations
The foundation maintains a low public profile, consistent with the Demoulas family's preference for quiet philanthropy over publicized giving.
Grantmaking
Grant Range
** $15,000 to $3,050,000
How to Apply
** No publicly available email or website; applicants may contact the foundation by phone at 978-244-1024.
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Geographic Focus
Where this funder awards grants
The foundation focuses on Massachusetts and New York, with particular emphasis on the Greater Boston and Lowell areas.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
Assets:
- 2024: $201,182,486
- 2023: $200,814,022
Annual Revenue & Expenses:
- 2024 Total Revenues: $6,515,931
- 2024 Total Expenses: $8,336,419
- 2023 Revenue: $4.43 million
- 2023 Expenses: $3.46 million
Revenue Sources: The foundation's revenue derives primarily from investment income, with dividends comprising over 90% of annual revenue.
Staffing: The foundation operates with no employees.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $201,182,486 | $200,814,022 | $195,466,990 |
| Revenue | $6,515,931 | $4,425,302 | $4,530,408 |
| Expenses | $8,336,419 | $3,460,040 | $5,377,885 |
| Qualifying Distributions | $7,968,250 | $3,100,750 | $5,070,667 |
| Net Investment Income | $6,218,102 | $4,123,512 | $4,278,610 |
| Distributable Amount | $4,070,460 | $3,764,345 | $2,383,286 |
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
69 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
- At Demoulas: Trustee
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| ARTHUR T DEMOULAS | TRUSTEE | 2 | — |
| FRANCES I DEMOULAS | TRUSTEE | — | — |
| GLORIANNE DEMOULAS | TRUSTEE | 1 | — |
| CAREN L DEMOULAS | TRUSTEE | — | — |
| SUSAN M DUFRESNE | ADMINISTRATOR | 6 | $37,500 |
Recent News & Activity
Recent developments and announcements
In 2025, the foundation made a significant gift to Boston College, resulting in the naming of Stokes Hall Atrium as the Demoulas Commons, recognizing the family foundation's support.
Telemachus And Irene Demoulas Family Foundation - Full FilingSubject Areas
Focus areas based on grantmaking activity
Related Funders
Similar funders by location and focus area
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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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