Statement from The Shapiro Family Foundation on the Madoff Fraud case:

December 16, 2008-- The Carl and Ruth Shapiro Family Foundation was shocked and horrified to learn about the allegations against Mr. Madoff, who has long been considered a trusted and effective leader in the investment field. The Shapiro Family Foundation did have significant assets invested with Mr. Madoff. We are currently reviewing the situation and assessing all options available to recover those funds.

The Foundation plans to fulfill all of its current obligations. We are committed to building back the resources of our foundation and fully anticipate that the Foundation will continue to be a strong supporter of the region's non-profits for many years to come.

In addition to our well-known capital support of established Boston institutions, over the past several years we have broadened our commitment to a wide range of organizations that work at the community level. Through grants to more than 70 organizations, we support programs in the areas of inclusion for persons with disabilities, youth arts, domestic violence, adult education and youth development. In the past year, we’ve added a college scholarship initiative.

Share Share Print Print