# Highland Street Foundation

Highland Street Foundation is a Foundation based in Newton, United States.

## Overview

- **Organization type:** Foundation
- **Headquarters:** Newton, United States
- **Region:** North America
- **Address:** 2223 Washington Street, Suite 104, Newton, MA 02462, United States
- **Founded:** 1989
- **Assets under management:** $23M (Altss estimate)
- **Website:** www.highlandstreet.org
- **LinkedIn:** https://www.linkedin.com/company/highland-street-foundation

## Regulatory record

- **Reports private funds:** No

## About

The McGrath family formed the Highland Street Foundation in 1989 after David J. McGrath Jr. liquidated his interest in TAD Resources International, a staffing company he founded. His wife JoAnn and their children—Sean, Holly, and Chris—serve in leadership or board capacities alongside Holly's husband David Bruce, making this a tightly governed single-family philanthropic vehicle based in Newton, Massachusetts. The foundation's investment posture is unusually broad for an endowment of its size. Its strategy spans buyout, growth equity, venture capital from seed to late-stage, distressed debt, mezzanine, secondaries, and natural resources. The portfolio uses fund commitments, direct co-investments, and a hybrid fund-of-funds structure. Beyond the liquid portfolio, the McGrath family holds real assets including the foundation's Newton headquarters and mixed-use redevelopment at 45 E. Central Street in Natick, Massachusetts. No specific portfolio company names are publicly disclosed. With an estimated $23M in assets (Altss estimate), the grant-making side is anchored by Free Fun Fridays, which opened Massachusetts cultural institutions at no cost to visitors, and the Youth Philanthropy Initiative. The foundation maintains a lifeline sponsorship with The Hundred Club of Massachusetts and David Bruce holds board and lifetime member seats with Big Sister Association of Greater Boston and the Francis Ouimet Society, respectively. The foundation's structural differentiator is the fusion of a broad multi-asset investment mandate with a concentrated grant-making geography—Massachusetts and California—managed entirely by the founding couple and their children. Decision-making authority sits with the family board, uniting investment operations and philanthropic distribution without separate professional staff beyond the family group.

## Sectors

- Education
- Healthcare Services
- Environment
- Arts & Culture

## People

- David J. McGrath Jr. — Founder
- Sean P. McGrath — CEO of Stonegate Group; Son of Founder
- Holly McGrath — Board Member; Daughter of Founder
- David Bruce — Board Member; Husband of Holly McGrath
- Chris McGrath — Board Member
- JoAnn McGrath — Family Member; Active in Foundation Leadership

## Questions

### Is Highland Street Foundation a grant-maker, an investor, or both?

It is both. The foundation runs active grant-making programs, including Free Fun Fridays and the Youth Philanthropy Initiative, while simultaneously managing an endowment that deploys capital across venture, buyout, distressed, mezzanine, and natural resources strategies. The same family board governs both activities.

### Where does the foundation's wealth originate?

The family wealth comes from David J. McGrath Jr.'s founding and subsequent sale of TAD Resources International, a staffing company. He established the foundation in 1989 from those proceeds and continues to lead it alongside his immediate family members.

### Does the McGrath family manage other investment vehicles outside the foundation?

Sean P. McGrath serves as CEO of Stonegate Group, a separate entity. The foundation also holds direct real estate assets, including the HomeFunders Loan Fund and multiple Massachusetts properties, but these are not structured as distinct external investment vehicles open to other LPs.

### What geographic footprint does the foundation's giving and investing serve?

The foundation's philanthropic programs focus on Massachusetts and California. Its investment portfolio is not geographically restricted, though many of the family's direct real estate assets are located in Massachusetts, particularly Newton, Natick, and Boston.

### Does Highland Street Foundation accept outside capital or co-investors?

No. The foundation operates as a single-family philanthropic entity. All disclosed assets are controlled by the McGrath family, and there is no indication that the foundation pools capital with external partners beyond standard limited partner fund commitments or co-investments with other institutional investors.

## Related profiles

- [DonorsChoose](https://altss.com/profile/donorschoose-org)
- [Livestrong Foundation](https://altss.com/profile/livestrong-foundation)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/highland-street-foundation

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology