Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 1997.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
89 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
37 people listed on the 990; $4.9M paid to officers and key staff.
M Lee Pelton’s $844K as President & CEO is at the 85th percentile of top reported officer pay among 129 $100M+ philanthropy & grantmaking nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| M Lee Pelton | $844,144 | $806,009 | $746,956 | $419,978 | — | — |
| Paul S Grogan | — | — | — | $636,389 | $605,661 | $694,127 |
| Alfred F Van Ranst JR | $442,569 | $400,830 | $400,440 | $408,505 | $386,671 | $379,747 |
| George C Wilson | $409,291 | $392,677 | $388,767 | $390,256 | $367,418 | $362,436 |
| Kate Guedj | $400,579 | $392,052 | $381,676 | $354,585 | $307,334 | $319,633 |
| Brian Douglas | $394,571 | — | — | — | — | — |
| Makeeba McCreary | — | $174,210 | $343,379 | — | — | — |
| Orlando Watkins | $341,254 | $335,194 | $319,716 | $284,903 | $259,658 | $247,166 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
See Boston Foundation INC executive salaries →Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Grants funds, partners with donors, and uses civic advocacy to reduce disparities and build equitable communities throughout the Greater Boston area.
Questions for Boston Foundation INC
Your first name shows with your question. Boston Foundation INC answers here, for everyone.
Value Statement
We are committed to closing the gaps on this region's greatest disparities. Through our resources and relationships, we work to open pathways to opportunity and build and sustain vital, prosperous and equitable communities.
Carry out and evaluate philanthropic programs for individual donors, families, foundations, and corporations. Encourage a positive climate for philanthropy and actively promote effective giving through work with community foundations, Regional Associations of Grantmakers and others.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
Federal money
The auditor reported no findings.
The auditor reported no findings.
The auditor reported no findings.
The auditor reported no findings.
By the numbers
The FY2023 990, line by line.
Download 990
| Line | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|
| End of yearLn 1g | $536.2M | $530.2M | $575.1M | $452.3M | $474.7M |
| Given inLn 1b | $1.4M | $2.2M | $355K | $2.7M | $1.1M |
| SpentLn 1d–1f | $22.6M | $23.4M | $25.1M | $25.2M | $1.7M |
| Line | Start FY23 | End FY23 |
|---|---|---|
| Cash and savingsLn 1–2 | $39.7M | $50.0M |
| InvestmentsLn 11–13 | $1.63B | $1.65B |
| Land, buildings, equipmentLn 10c | $3.0M | $2.5M |
| Total assetsLn 16 | $1.67B | $1.71B |
| LiabilitiesLn 26 | $12.3M | $20.5M |
| Net assetsLn 32 | $1.66B | $1.69B |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $166.3M | $166.3M | ||
| Grants to domestic individualsLn 2 | $6.6M | $6.6M | ||
| Grants and assistance to foreign recipientsLn 3 | $1.8M | $1.8M | ||
| Pay of current officers, directors and key staffLn 5 | $4.1M | $627K | $3.1M | $448K |
| Other salaries and wagesLn 7 | $12.0M | $3.8M | $6.2M | $1.9M |
| Pension plan contributionsLn 8 | $465K | $166K | $226K | $73K |
| Other employee benefitsLn 9 | $1.3M | $439K | $667K | $226K |
| Payroll taxesLn 10 | $1.1M | $320K | $589K | $160K |
| Management feesLn 11a | $16K | $16K | ||
| Legal feesLn 11b | $152K | $62K | $66K | $24K |
| Accounting feesLn 11c | $315K | $315K | ||
| Lobbying feesLn 11d | $2K | $110 | $2K | |
| Investment management feesLn 11f | $391K | $391K | ||
| Advertising and promotionLn 12 | $939K | $305K | $625K | $8K |
| Office expensesLn 13 | $872K | $382K | $453K | $37K |
| Information technologyLn 14 | $1.2M | $20K | $1.2M | |
| OccupancyLn 16 | $1.6M | $6K | $1.6M | $8K |
| Conferences, conventions and meetingsLn 19 | $2.4M | $1.6M | $663K | $139K |
| Depreciation, depletion and amortizationLn 22 | $437K | $437K | ||
| InsuranceLn 23 | $194K | $20K | $174K | |
| Other expenses (24a–d)Ln 24 | $7.7M | $4.7M | $2.6M | $428K |
| Total functional expensesLn 25 | $209.9M | $187.1M | $19.3M | $3.5M |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 LatestFiled with the IRS May 6, 2026 | $426.7M | $279.9M | $146.8M | $2.1B | 990 PDF |
| FY2024Filed with the IRS May 12, 2025 | $210.4M | $215.3M | −$4.9M | $1.8B | 990 PDF |
| FY2023 ViewingFiled with the IRS May 10, 2024 | $161.3M | $209.9M | −$48.6M | $1.7B | 990 PDF |
| FY2022 | $324.7M | $228.4M | $96.3M | $1.7B | 990 PDF |
| FY2021Filed with the IRS May 10, 2022 | $325.6M | $198.3M | $127.3M | $1.7B | 990 PDF |
| FY2020Filed with the IRS May 11, 2021 | $182.8M | $240.5M | −$57.7M | $1.2B | 990 PDF |
Schedules filed Part IV
See the full FY2023 990 (6 parts)
Part I · Summary $161,296,905 revenue, 12 lines filed
Part VI · Governance 19 of 19 board members independent, no flags
Part VIII · Statement of revenue $161,296,905 across 10 lines filed
Part IX · Statement of functional expenses $209,895,497 across 21 lines filed
Part X · Balance sheet $1,708,597,273 assets, 19 lines filed
Part XI · Reconciliation of net assets $1,688,124,910 net assets at year end
Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File
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