Today, the heads of 80 nonprofits around Boston will receive a letter that the Carl and Ruth Shapiro Family Foundation did not want to send. The organization will make no new grants in 2009, as it regroups after the Bernard L. Madoff investment scandal, which claimed about $145 million, or nearly half of its assets. The foundation will give out about $9 million, however, honoring all of its existing financial pledges.
From donors who touch many, no new grants Shapiro Foundation From donors who touch many, no new grants
Hurt by Madoff, Shapiros will honor existing pledges
The Carl and Ruth Shapiro Family Foundation donated $200,000 to the Children's Museum in 2007.
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http://www.boston.com/business/articles/2009/01/30...
