The Boston Foundation

We're celebrating the impact of the Boston Acquisition Fund and the strength of our partnerships to preserve critical affordable housing for thousands of residents. Just last month the Fund was named the winner of the 2026 Ivory Prize for Housing Affordability, a national award recognizing innovative and scalable solutions to the housing affordability crisis. This recognition is a testament to our collective work in creating a new approach to preventing displacement and maintaining stable housing for Boston residents.

Since launching in 2024, the $45 million fund has supported the acquisition of 435 homes in Roxbury, Dorchester, Roslindale, and Mattapan, permanently stabilizing rent for over 1,000 households.

Supported by the City of Boston alongside a coalition of hospitals, philanthropic partners, and banks, the Boston Acquisition Fund is a public-private revolving loan fund that provides rapid, low-cost acquisition financing to mission-driven developers seeking to preserve existing below-market-rate housing. TBF is proud to be part of this coalition of investors.

Read more: https://bit.ly/4eRuLnW

“In a moment when LGBTQ+ populations continue to face the intentional and cruel erosion of their legal rights, their access to care, their housing access, and their community institutions, we are proud to be able to expand our support for LGBTQ+-led and -serving organizations this Pride Month."

To kick off Pride Month, the Equality Fund at TBF is distributing $705,000 in grants to 42 LGBTQ+-serving organizations in the largest grantmaking slate in the Fund’s history. More than two-thirds of the grants are being awarded to organizations that focus on three especially vulnerable groups: the trans community, LGBTQ+ youth, and LGBTQ+ seniors.

Highlighting ongoing critical needs for the LGBTQ+ community, donors and supporters are rallying to make a difference. To date, the Equality Fund, through its generous donors, has made more than $3.5 million in grants. Guided by an Advisory Committee of LGBTQ+ community members and allies with deep knowledge of the issues affecting LGBTQ+ people today, the Equality Fund is the state's largest philanthropic fund exclusively dedicated to the LGBTQ+ community.

Read the announcement and learn about the grantees: https://bit.ly/43HPweQ

As Asian American Pacific Islander (AAPI) Heritage Month comes to a close, we're taking a moment to recognize the impact of the Asian Community Fund (ACF) at TBF.

This month ACF released its five-year impact report, capturing the fund's path from its founding at the height of the COVID-19 pandemic and anti-Asian violence to today: solidified in its role galvanizing grassroots philanthropy and meeting the needs of some of our most marginalized neighbors.

What began as a commitment to visibility and representation has grown into something genuinely remarkable, igniting bold ideas and seeding innovations. In just five years, ACF has convened 65 community events and catalyzed vital statewide coalitions while strengthening the capacity of the AAPI nonprofit, business, and cultural sectors.

AAPI and immigrant communities in MA are at an inflection point, and ACF is helping close the resource and visibility gap for one of the region's fastest-growing populations. Thank you for standing with us in this work – your partnership is what makes it possible.

Learn more and support ACF: https://bit.ly/49wNiCB
Read their five-year impact report: https://bit.ly/4vcI7Qp

Congratulations to our President and CEO, Lee Pelton, who will be honored as this year’s Public Service Award recipient by the Massachusetts League of Community Health Centers! This award recognizes Lee’s work to address health disparities and his courage to care for our most vulnerable. You can celebrate Lee and Massachusetts’ most impactful community health leaders at the Mass League gala on Friday, June 12.

For more information and to purchase tickets, visit https://bit.ly/3Rtiw7x

After an exceptional tenure, we announce Lee Pelton's plan to step down as President and CEO of the Boston Foundation.

Lee has gifted his community with more than four decades of institutional and civic leadership. During his Presidency at TBF, Lee led the Foundation with conviction, clarity, and confidence. We are immensely grateful to Lee for what we have built together, and proud of the resources we are mobilizing for Greater Boston. Pelton's leadership strengthened and expanded our impact significantly. During his tenure, TBF's assets grew by nearly $1 billion, to $2.6 billion, while the annual resources directed into communities nearly doubled to well over $300 million.

TBF continues our ambitious plans to support an ever-greater Boston, in partnership with the donors, nonprofits and civic and community leaders whose work inspires us each day. A transformative leader for TBF and an extraordinary force for good in our region, we are grateful that Lee has charted a path for TBF to take our next step forward.

Read more here: https://bit.ly/49MyvDL

How can we build upon the reforms that made ADUs in Massachusetts more possible and tackle the lingering challenges to make ADU construction more likely?

Homeowners and renters have demonstrated a clear interest in accessory dwelling units (ADUs): in the first year alone after ADUs were legalized statewide by MA's Affordable Homes Act, with changes taking effect in Feb. 2025, more than 1,600 permit applications were received and 1,200 permits were issued, a clear increase from prior years. But interest alone isn’t enough. High construction costs, limited financing, and a regulatory process that adds delays and uncertainty are still holding back many ADU projects that would create new housing in MA.

A report out today from Boston Indicators, the research center at TBF, and Abundant Housing Massachusetts finds that MA’s new statewide permitting pathway ADUs has sparked promising development in ADUs, looking at ADU construction following the state-level legalization in 2025, and at the challenges facing local property owners who now face a maze of regulations.

Read the report with recommendations to build upon the momentum the legislation unlocked one year ago: https://bit.ly/49e0hZP

“Supporting AAPI-owned businesses is one of the most joyful ways to celebrate AAPI Heritage Month,” Qingjian (Q.J.) Shi, Senior Director of the Asian Business Empowerment Council.

This May, for AAPI Heritage Month, we’re celebrating the vibrant contributions of Asian American and Pacific Islander (AAPI) businesses across MA. From family-run restaurants and neighborhood bakeries to bookstores, salons, makers, and markets, AAPI-owned businesses are a cornerstone of our local economies and cultural life. At a time when many small businesses are navigating challenges, is a chance to support AAPI-owned businesses and recognize their vital role in our communities.

The Asian Business Empowerment Council and Massachusetts Asian and Pacific Islander Legislative Caucus are working in partnership to highlight the importance of AAPI shops and businesses. For ways you can join in, visit https://bit.ly/4dioYXj