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Phillip and Susan Ragon Foundation

Annual Giving
$0.5M
Grant Range
$20K - $100.0M

Quick Stats

  • Annual Giving: Approximately $500,000 (varies significantly with transformative gifts)
  • Total Giving (2018-2022): $213 million
  • Success Rate: Not applicable - invitation only
  • Decision Time: Not publicly disclosed
  • Grant Range: $20,000 (average) to multi-million dollar commitments
  • Geographic Focus: Primarily Boston/Cambridge area, with select international focus (Colombia)

Contact Details

Foundation Address:
PO Box 380281
Cambridge, MA 02238-0281

Phone: 617-225-3001

Note: The foundation does not maintain a public website and does not accept unsolicited funding requests.

Overview

The Phillip and Susan Ragon Foundation was established in 2003 by InterSystems founder and CEO Phillip T. "Terry" Ragon and his wife Susan M. Ragon, who serves as Vice President of Finance, Administration, and Recruitment at InterSystems. The foundation operates as a private family foundation with approximately $27 million in net assets as of 2024. While typical annual grantmaking totals around $500,000, this figure varies dramatically depending on transformative gifts - from 2018 to 2022, the foundation distributed $213 million, with 98% going to Massachusetts General Hospital (75%) and MIT (23%). The Ragons are Giving Pledge signatories who signed in March 2017, committing to donate at least half of their wealth to philanthropic causes. The foundation operates as a lean organization with Phillip and Susan as the only officers, taking no salaries, ensuring practically all qualified distributions take the form of grants.

Funding Priorities

Grant Programs

The foundation does not operate formal grant programs with defined parameters. Instead, it makes strategic investments in select areas:

Major Research Investments:

  • Ragon Institute of MGH, MIT, and Harvard: $300+ million total commitment
  • Massachusetts Institute of Technology: $50+ million over multiple years
  • HIV/AIDS research and vaccine development: $400 million announced in 2024

Community Grants:

  • Typical grant size: Approximately $20,000
  • Combined giving to small number of organizations annually

Priority Areas

Health and Medical Research:

  • HIV/AIDS vaccine research and cure development
  • Immunology and infectious disease research
  • Hospital-based medical care and innovation
  • Healthcare for underserved populations

Education:

  • Higher education, particularly MIT (Phillip's alma mater)
  • Educational opportunities in underserved areas
  • International education projects, particularly in Colombia

Religious Institutions:

  • Catholic churches and institutions in the Boston area
  • Archdiocese of Boston

Community Development:

  • Boston-area community improvement initiatives
  • Youth development programs
  • Homeless services
  • Conservation efforts

What They Don't Fund

The foundation has not publicly stated exclusions, but their giving pattern reveals:

  • Organizations outside the Boston/Cambridge area (with rare exceptions)
  • Organizations without pre-existing connections to the Ragons or their network
  • General operating support for organizations outside their focus areas
  • Organizations not aligned with their strategic interests in health, education, or faith-based work

Governance and Leadership

Phillip T. "Terry" Ragon, Founder and Trustee
Graduated from MIT in 1971 with a degree in physics. Founded InterSystems Corporation in 1978, serving as CEO and sole owner of the company, which has over 2,000 employees and $976 million in revenue. Ragon has served on the Massachusetts General Hospital Board of Trustees since 2014. His philanthropic philosophy centers on research as a "fulcrum" for change, stating: "If you want to change the world for the better, research is the fulcrum."

Susan M. Ragon, Trustee
Vice President of Finance, Administration, and Recruitment at InterSystems. In the couple's Giving Pledge letter, Susan is described as preferring to "personally touch individual lives through direct support and comfort." She shares equal governance authority with Terry in the foundation.

The Ragons articulated their philanthropic motivation in their Giving Pledge letter: "Susan and I often find ourselves wondering, 'Why were we born with so many advantages in life when others are born with none?'"

Application Process & Timeline

How to Apply

This foundation does not have a public application process. The foundation does not publicize its grantmaking guidelines or accept unsolicited funding requests. According to multiple sources, the foundation "only makes contributions to preselected charitable organizations."

The foundation's grantmaking appears to flow from:

  • Personal relationships and board affiliations (Phillip Ragon serves on MGH Board of Trustees)
  • Alumni connections (MIT, Terry's alma mater)
  • Geographic proximity to their Cambridge base
  • Strategic initiatives identified by the trustees
  • Long-term relationships with faith-based institutions

Getting on Their Radar

Given the foundation's highly selective, relationship-based grantmaking approach, the following specific factors appear to influence their giving:

Board Connections: Phillip Ragon has served on the Massachusetts General Hospital Board of Trustees since 2014. His board service appears to be a significant factor in the foundation's major commitments to MGH.

Geographic Proximity: The foundation made 17 grants to eight organizations from 2018 to 2022, with all but one recipient (Instituto San Pablo Apostol Carrera in Bogotá, Colombia) based in Boston or Cambridge.

Personal Experience: The Colombia-based educational institution recipient connects to Terry Ragon's personal history - he spent his senior year of high school in Bogotá. His commitment to HIV research stemmed from a 2007 trip to South Africa where he witnessed the devastating impact of HIV firsthand.

MIT Alumni Network: As an MIT graduate, Ragon has made substantial gifts to his alma mater. MIT connections and collaborative opportunities appear to open doors.

Decision Timeline

Not publicly disclosed. The foundation operates with significant flexibility in timing for both transformative gifts and smaller community grants.

Success Rates

Not applicable - the foundation does not accept unsolicited applications. From 2018 to 2022, the foundation made only 17 grants to eight organizations, demonstrating highly selective, strategic grantmaking.

Reapplication Policy

Not applicable - no public application process exists.

Application Success Factors

Since this foundation does not accept unsolicited applications, traditional "success factors" do not apply. However, the following insights about their giving patterns may be valuable:

Strategic Research Focus: The Ragons are deeply committed to research as transformative change. Terry Ragon stated: "If you want to change the world for the better, research is the fulcrum." Organizations conducting cutting-edge research, particularly in immunology and infectious diseases, align with their vision.

Collaborative Approaches: The Ragon Institute model - bringing together MGH, MIT, and Harvard - reflects their preference for collaborative, interdisciplinary approaches. Terry Ragon described this as approaching research "like the Manhattan Project."

Personal Connection Required: Every major gift has stemmed from personal connection - board service, alumni status, personal experience, or geographic proximity. The foundation has not demonstrated a pattern of supporting organizations without pre-existing relationships.

Long-Term Impact Focus: Their $100 million commitment to the Ragon Institute, followed by $200 million more, and then $400 million for HIV cure research demonstrates preference for sustained, long-term investments rather than scattered smaller grants.

Key Takeaways for Grant Writers

  • No Public Application Process: This foundation does not accept unsolicited proposals or maintain public grantmaking guidelines. Traditional grant writing will not result in funding.
  • Relationship-Driven Grantmaking: All evidence points to grants flowing from personal relationships, board service, alumni connections, or geographic proximity to Cambridge/Boston.
  • Transformative Research Focus: The Ragons' major philanthropic investments center on medical research, particularly HIV/AIDS vaccine development and immunology, with preference for collaborative, interdisciplinary approaches.
  • Geographic Concentration: 98% of funding from 2018-2022 went to just two institutions (MGH and MIT), both in the Boston area. The foundation maintains strong local focus.
  • High-Impact, Long-Term Commitments: Rather than making many small grants, the Ragons prefer substantial, sustained investments in strategic priorities. Their HIV research commitment spans decades.
  • Personal Experience Drives Giving: Major funding decisions connect to personal experience - Terry's trip to South Africa inspired HIV focus, his high school year in Bogotá led to Colombian school support, his MIT degree drives university giving.
  • Lean Operation Maximizes Grants: With no staff beyond the two trustees and no salaries paid, the foundation exemplifies efficient private foundation operations focused on maximizing charitable impact.

References

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