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The Jaket Foundation

Annual Giving
$12.4M
Grant Range
$3K - $10.0M

The Jaket Foundation

Quick Stats

  • Annual Giving: $12,384,798 (2023)
  • Success Rate: Not applicable - invitation only
  • Decision Time: Not applicable - no public application process
  • Grant Range: $2,500 - $10,000,000
  • Geographic Focus: Boston and Concord, MA area (primarily)
  • Total Assets: Over $100 million

Contact Details

Address: 75 Federal Street, Suite 1100, Boston, MA 02110

Phone: 617-357-9110

EIN: 046878795

Note: The foundation does not maintain a public website or email contact.

Overview

The Jaket Foundation (formerly known as the Gross Family Foundation) was established in 1998 by Phillip Gross, co-founder of Adage Capital Management, LP, and his wife Elizabeth. The foundation is a private independent foundation with over $100 million in assets. In recent years, the foundation's grantmaking has grown substantially, from approximately $3 million earlier in the decade to $12.4 million in 2023 (29 awards) and $2.6 million in 2022 (17 awards). The foundation funds grants almost entirely in the Boston area for youth services, education, and athletics. Phillip Gross is also a founder and treasurer of Strategic Grant Partners, a Boston-based collaborative philanthropy organization supporting projects that improve the lives of struggling individuals and families in Massachusetts.

Funding Priorities

Grant Programs

The foundation operates through trustee-selected grants with no formal grant programs or public application cycles. Grant amounts vary widely based on project scope and institutional relationship:

  • Youth Services Grants: $5,000 - $250,000
  • Education Grants: $400,000 - $10,000,000
  • General Grants: $2,500 - $900,000

Priority Areas

Youth Services: The foundation has traditionally been most interested in youth services organizations, with a special emphasis on athletic projects for inner-city kids. Supported organizations include:

  • SquashBusters
  • Red Sox Foundation
  • Boys and Girls Clubs of Boston

Education: Strong support for educational facilities and financial aid programs, particularly at the founders' alma maters and institutions in Massachusetts:

  • University-level financial aid and scholarship programs
  • K-12 educational facilities
  • Youth enrichment services

Athletics: Particular interest in water and snow sports programs for youth

Arts and Health: Secondary areas of interest

What They Don't Fund

  • Organizations outside Massachusetts (with rare exceptions)
  • Grants to individuals
  • Unsolicited requests from organizations without pre-existing relationships

Governance and Leadership

Founders and Primary Leadership:

  • Phillip Gross: Co-founder and trustee. Former healthcare and retail analyst, equity research director, and partner at Harvard Management Company for 18 years before co-founding Adage Capital Management.
  • Elizabeth Gross: Co-founder and trustee
  • Thomas V. Quirk: Vice President, CIO of Howard Capital Private Investment Advisors

The foundation is described as "an under the radar funder steered by an under the radar billionaire" and "lacks transparency and doesn't maintain a public website or much of an internet presence at all."

Application Process & Timeline

How to Apply

This foundation does not have a public application process. The foundation has explicitly indicated it only makes contributions to preselected charitable organizations and does not accept unsolicited requests for funds.

Grants are awarded through trustee discretion based on the founders' personal knowledge of organizations and causes. The foundation identifies potential grantees through:

  • Pre-existing relationships with institutions
  • Board members' connections in the Boston philanthropic community
  • Strategic Grant Partners network
  • Direct knowledge of organizations' work in the community

Decision Timeline

Not applicable - grants are awarded at trustees' discretion throughout the year rather than through formal application cycles.

Success Rates

Not applicable due to the invitation-only nature of the foundation's grantmaking.

Reapplication Policy

Not applicable - the foundation does not accept applications.

Application Success Factors

Since this foundation does not accept unsolicited applications, organizations cannot apply directly. However, understanding their funding patterns can help organizations position themselves strategically:

Demonstrated Track Record: The foundation supports established organizations with proven impact in their focus areas. Recent grantees include well-known Boston institutions like SquashBusters and the Boys and Girls Clubs of Boston.

Geographic Alignment: Nearly all grants are made to organizations serving the Boston and Concord, MA area. Organizations outside this geography are rarely funded.

Youth Focus: The strongest funding pattern is support for youth-serving organizations, particularly those involving athletics or educational enrichment. As noted in research, "the family usually awards several grants each year in amounts ranging from $5,000 to $250,000 to Boston-based Youth Enrichment Services."

Educational Institutions: The foundation has made significant grants to educational institutions, particularly those with connections to the founders. Major education grants include $10 million to Mount Holyoke College (2021), $6.8 million to University of Maryland at College Park (2020), $2 million to Harvard University, $1 million to Fenn Schools, and $400,000 to Tufts University.

Scale Flexibility: The foundation funds both small grassroots initiatives ($2,500-$10,000) and major institutional projects ($1 million+), suggesting they evaluate projects on merit and impact rather than organizational size.

Key Takeaways for Grant Writers

  • No Public Application Process: This foundation cannot be approached through traditional grant applications. They exclusively fund preselected organizations.
  • Relationship-Driven: Grants flow from personal relationships, board connections, and the Strategic Grant Partners network. Focus on building visibility in Boston's philanthropic community rather than direct outreach.
  • Boston-Centric: Geographic focus is almost exclusively the Boston and Concord area with emphasis on inner-city youth programs.
  • Youth Athletics Priority: Organizations combining youth development with athletic programming (especially water/snow sports) align strongly with funding patterns.
  • Education and Institutional Giving: Major grants to educational institutions, particularly for financial aid and scholarships, represent a significant portion of giving.
  • Strategic Grant Partners Connection: Phillip Gross's role as founder and treasurer of Strategic Grant Partners suggests this collaborative may be a pathway for organizations to gain visibility with the foundation.
  • Growing Grantmaking: Annual giving has grown from ~$3 million to over $12 million in recent years, indicating expanded capacity and interest in philanthropy.

References

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