NET WORTH: Unknown
SOURCE OF WEALTH: Adage Capital Management
FUNDING AREAS: Education & Youth, Arts & Culture, Health, Boston community
OVERVIEW: Phillip Gross and his wife Elizabeth conduct their philanthropy through The Jaket Foundation, whose grantmaking has risen in recent years. The couple support their alma maters and have a particular interest in youth sports. Other interests include the arts and health. While the couple is based in the Boston area, philanthropy also goes to Wisconsin.
BACKGROUND: Phillip Thomas Gross received a B.S. in finance and economics from the University of Wisconsin in 1982 and an M.S. in investments in 1983. He was a healthcare and retail analyst, equity research director, and partner at Harvard Management Co. for 18 years. He went on to co-found Adage Capital Management.
EDUCATION & YOUTH: The couple has supported Gross's alma mater, University of Wisconsin, and Elizabeth's schools, Mount Holyoke (she sits on the board) and Tufts University (particularly its Friedman School of Nutrition Science and Policy) where she is an adjunct associate professor and also sits on the board. The largest recent sums to higher education via the couple's foundation have gone to Boston University and Harvard University. Other grantees include Year Up, Shorewood School District in Wisconsin, Lawrence Academy, Chapman University, and Big Brothers and Big Sisters of Massachusetts Bay.
Phillip and Elizabeth strongly support youth sports, particularly winter sports. The couple have directed steady support to National Winter Activity Center and National Winter Sports Education Foundation (NWSEF), whose aim is to "assist organizations in providing access to winter activities for youth; creating a new generation of healthy, long term winter sports enthusiasts." They have also supported STOKED, which empowers underserved youth "through mentorship and action sports culture" and Concord Carlisle at Play, a "not-for-profit corporation created by local citizens who have come together to create better outdoor facilities at Concord-Carlisle High School." The couple is based in Concord, Mass.
ARTS & CULTURE: Grantees have included Boston Dance Alliance, Concord Museum, Emerson Umbrella Center for the Arts, Falmouth Artists Guild, Museum of Fine Arts Boston, and The Grand Center for Arts & Culture in Minnesota.
HEALTH: The couple, via their foundation, have supported American Cancer Fund, Broadway Cares/Equity Fight AIDS, and Emerson Health Care Foundation. Elizabeth holds both a masters degree in nutrition and a Ph.D. in nutritional biochemistry from Tufts University Friedman School of Nutrition Science and Policy and was a research scientist in the Genetics lab at the USDA Human Nutrition Science Center.
BOSTON COMMUNITY: Gross and Elizabeth are among the founders of Strategic Grant Partners, whose mission is to "partner with outstanding leaders with game changing ideas that improve the lives of children and families in Massachusetts." They have also supported YMCA of Greater Boston and Boston Celtics Shamrock Foundation.
LOOKING FORWARD: Grantmaking swelled to more than $12 million in a recent year, up from around $3 million earlier in the decade. Expect Phillip and Elizabeth to remain active, particularly in the Boston area.
The Jaket Foundation does not provide a clear avenue of contact but below is an address:
The Jaket Foundation
75 Federal St., Ste. 1100
Boston, MA 02110
Telephone: (617) 357-9110