The Boston Foundation

Legal name: Boston Foundation Inc

Overview

Mission

We are committed to closing the gaps on this region’s greatest disparities. Founded in 1915, the Boston Foundation is one of the largest—and highest impact—community foundations in the nation, with net assets of some $1.9 billion. The Foundation is proud to be a partner in philanthropy, with nearly 1,000 separate charitable funds established by donors either for the general benefit of the community or for special purposes. The Foundation also partners thoughtfully with investors to manage its funds for maximal support of our mission. Valuing transparency, the Foundation makes available its most recent tax returns and financial statements, including investment pool performance, through links in this section.

What it reported doing in 2024

Major goals and objectives: We have chosen four interconnected pathways to equity where we believe we can have the greatest impact. See Schedule O-Child Well Being: Ensure that children are physically and emotionally healthy, developmentally on track and well prepared to thrive in school and adulthood.-Economic Opportunity: Every resident will have equitable access to high-quality career exploration and education opportunities, resources, tools and supports.-Community Wealth: Traditionally under-invested residents will build stability and individual and collective wealth through more equitable housing, business and creative systems.-Community Leadership: Movement leaders are equipped to provide crucial leadership and support for marginalized communities and nonprofit organizations.

Operating model

Revenue model
Donor-supported. 93% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 96% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

Nonprofit profile at a glance

EIN
042104021
IRS 990 coverage
2009–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024, Form 990-T 2024
Headquarters
Boston, MA, USA
Phone
617-338-1700
Rating
82
Verdict
STRONG
Rating confidence
Standard
Sector
Community Foundations

Official website

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 79
  • Accountability: 95
  • Sustainability: 88
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 63.9%; rating input score 64
  • Program expense ratio: 92.1%; rating input score 92
  • Fundraising efficiency: $96.69 raised per $1 spent on fundraising; rating input score 84; 84th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.4%; rating input score 94; 30th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: 2 of 8 controls in place; rating input score 25
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Pass
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 99.1%; rating input score 99; 37th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 76th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 34.4%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 7.66; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 95; 95th percentile among comparable filings
  • Officer compensation ratio: 1.9%; rating input score 57; 57th percentile among comparable filings

Growth

  • Program expense growth: 6.6% per year; rating input score 100; 54th percentile among comparable filings
  • Revenue growth: 8% per year; rating input score 100; 67th percentile among comparable filings
  • Asset growth: 6.6% per year; rating input score 100; 49th percentile among comparable filings

Details

  • What they do: 7 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 63.9% of revenue deployed · 92.1% of spending went to programs
  • Governance: 20 of 20 board members independent · 8 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $257.8M in reported program spending
  • Leadership: top reported pay $916K · 36 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $2.1M reported
  • Consistency: 41 of 42 current checks pass · 1 finding to review
  • Schedules: 11 filed schedules · includes major donors, foreign activity, grants, executive pay, and related organizations
  • Filing history: 13 annual filings from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 2390 filed money-flow records
  • Related organizations: 2348 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Leadership & pay

36 people listed

Highest reported compensation

  • M Lee Pelton (President & CEO): $915,854 total reported compensation
  • Kate Guedj (SVP and Chief Phil. Off.): $469,241 total reported compensation
  • George C Wilson (Assistant Treasurer): $461,064 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.