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Krupp Family Foundation
George and Lizbeth Krupp created the Krupp Family Foundation in 1995, a year when their real-estate operating company was already a substantial force in...
Krupp Family Foundation
George and Lizbeth Krupp created the Krupp Family Foundation in 1995, a year when their real-estate operating company was already a substantial force in multifamily housing. The wealth originates from Berkshire Residential Investments, a firm George co-founded that owns and manages apartment communities across eight states including Florida, Texas, and New York. Today the foundation is governed by the founders and the next generation: Liana Krupp serves as President while Michael Krupp acts as Trustee and also runs the George Krupp Family Office. The foundation does not disclose its grantmaking budget or an investable asset figure, but its posture is activist philanthropy — deploying capital to movements that organize for cultural, political, and economic power. While explicitly mission-driven, the family's broader financial architecture remains anchored to real assets. The family's holdings include the Berkshire Residential Investments portfolio, the Lizbeth and George Krupp art collection, and operating investments such as Area Four Restaurant Group. Michael Krupp's membership in the Urban Land Institute and the National Multifamily Housing Council reflects the ongoing connection to the real estate industry that generated the foundation's endowment. Institutional infrastructure at the foundation is deliberately lean and family-driven. Beyond the core team in Boston, the family maintains a parallel foundation — the Phillip & Bernice Krupp Foundation for Jewish Life — and a long-term funding partnership with Combined Jewish Philanthropies. Michael Krupp's ties to the Family Office Exchange (FOX) network signal the family's engagement with peer single-family offices, but the foundation itself functions as a grantmaker, not as a co-investment vehicle or deal club. The structural differentiator is the integration of a multi-generational family office within a grantmaking foundation that operates more like a political-empowerment fund than a traditional check-writing charity. Most family foundations preserve wealth for perpetual charitable distributions; the Krupps deploy through a specific power-building thesis while the operating business and investment portfolio continue to compound separately under a distinct family-office structure.
General information
Firm type
Endowment / Foundation
Year founded
1995
Location
Region
North America
Country
United States
City
Boston
Corporate office
Boston, Massachusetts, United States
Principals
George Krupp
Co-Founder
Lizbeth Krupp
Co-Founder
Liana Krupp
President
Michael Krupp
Trustee
Sector focus
Frequently asked questions
Who runs grantmaking and investment decisions at the Krupp Family Foundation?
Liana Krupp is President of the foundation and Michael Krupp is a Trustee; the founders, George and Lizbeth Krupp, remain involved in governance. The family does not publicize a separate investment committee, and the foundation's financial assets appear modest relative to the operating business — the bulk of the Krupp wealth still sits inside the Berkshire Residential Investments platform and the broader family office managed by Michael Krupp.
How is the foundation funded, and what is its investment asset base?
The foundation's endowment draws on wealth created by George Krupp's co-founding of Berkshire Residential Investments, a major US multifamily owner-operator. The foundation does not publicly report an asset figure; Altss research suggests total foundation assets may be under $30 million, while the family's real estate portfolio and related holdings are held outside the foundation structure.
What does the foundation actually fund?
The Krupp Family Foundation states it invests in movements that build cultural, political, and economic power for communities affected by systemic oppression. It does not publish a traditional grants database, but its focus is on organizing, advocacy, and power-building rather than direct-service charities.
Does the Krupp Family Foundation co-invest alongside external allocators?
No. The foundation is structured as a private grantmaker and does not participate in co-investments, fund commitments, or direct venture deals. Any co-investment activity, if it exists, would run through the separate George Krupp Family Office vehicle.
What is the relationship between the Krupp Family Foundation and the George Krupp Family Office?
Michael Krupp serves as both Managing Director of the George Krupp Family Office and as a Trustee of the foundation. The family office manages the family's investments, including the continuing Berkshire Residential platform and other holdings, while the foundation is the philanthropic grantmaking arm. The two entities are legally separate, with the foundation focused exclusively on its social-justice mission.
What role does the next generation play in the foundation?
Liana Krupp holds the role of President and Michael Krupp is a Trustee. Both represent the second generation of the family and are active in operating and governing the foundation, making it one of the earlier Boston-area family foundations to transition significant leadership to heirs while the founders are still alive.
How is the Krupp family's philanthropy structured beyond this foundation?
The family maintains a separate entity, the Phillip & Bernice Krupp Foundation for Jewish Life, and has been a prominent donor to Combined Jewish Philanthropies in Boston. The two foundations, plus the family office and the real estate operating business, constitute a four-part architecture that separates wealth generation, investment management, community-focused philanthropy, and Jewish communal giving.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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