The Boston Foundation has announced grants totaling more than $29.6 million to nonprofit organizations serving the region.
The bulk of the second-quarter funding, some $25.3 million, was awarded through the foundation's donor-advised funds. An additional $2.9 million was awarded through various TBF-sponsored initiatives. In the its current fiscal quarter, the foundation aims to award a total of $1.36 million in one-year and multiyear grants to organizations focused on promoting the career advancement and economic security of lower-income individuals, working to assist college students, and engaged in improving the health and wellness of local residents.
The foundation also announced the election of Jane Mendillo and Paul C. Gannon to its board of directors. Mendillo is president and CEO of Harvard Management Company and is responsible for directing the institution's $35 billion endowment. Gannon is managing director and chief financial and administrative officer for the investment management firm Baupost Group, LLC, where he oversees accounting, compliance, information technology, investor services, and corporate administration. Prior to joining Harvard, Mendillo served as chief investment officer at Wellesley College, while Gannon served as chief financial officer for the Real Estate Group of the Bank of Boston before joining Baupost.
"It's with great pleasure we welcome Jane Mendillo and Paul Gannon to the Boston Foundation board of directors," said TBF board chair Michael Keating. "Jane Mendillo has steered the endowments at Harvard and Wellesley through the most challenging decade in our history. Paul Gannon brings to our board a deep understanding of the administrative challenges that come with investment management developed in his more than two decades at Baupost. Their expertise will be invaluable as we guide the foundation into its second century serving Greater Boston."