# Phyllis and Jerome Lyle Rappaport Foundation

Phyllis and Jerome Lyle Rappaport Foundation is an Endowment / Foundation based in Burlington, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Burlington, United States
- **Region:** North America
- **Address:** Burlington, MA, United States
- **Founded:** 1997
- **Assets under management:** $40M–$55M (Altss estimate)
- **Website:** rappaportfoundation.org
- **LinkedIn:** https://www.linkedin.com/company/rappaport-foundation

## Regulatory record

- **Reports private funds:** No

## About

The Phyllis and Jerome Lyle Rappaport Foundation was established in 1997 by the couple whose New Boston Fund reshaped significant portions of the city's commercial and residential landscape. Jerome Lyle Rappaport, who died in 2021, was among Boston's most active developers, assembling a portfolio that included One Brigham Circle in Mission Hill and 116 Huntington Avenue in the Back Bay. Phyllis Rappaport continues as Chairperson, steering the foundation's dual function as both grantmaker and convener across the institutions the family helped build. The foundation targets leadership development at the intersection of public policy, neurodegenerative disease research, and mental health. Its flagship Rappaport Institute for Greater Boston operates at Harvard Kennedy School, funding summer fellowships that place graduate students in state and city government roles. A separate Rappaport Center at Massachusetts General Hospital supports research into Alzheimer's and related dementias, while the Rappaport Mental Health Initiative at McLean Hospital funds early-career psychiatrists. Grantmaking follows a direct fellowship model — funding individuals placed inside partner institutions rather than general operating support. The geographic focus remains metropolitan Boston, with no disclosed international programming. Total assets are estimated at $46 million (Altss estimate), with no public fundraising activity. The foundation's investment portfolio historically included direct secondary positions and fund-of-funds commitments, though current allocation details are not publicly disclosed. Phyllis Rappaport also serves on the Harvard Kennedy School Board of Advisors and the McLean Hospital Advisory Committee, maintaining the personal institutional ties that govern the foundation's grantmaking priorities. In December 2021, Jerome Lyle Rappaport's death concentrated governance authority with Phyllis Rappaport and a board that includes stepson Jonathan Rapaport and grandson James Rappaport Jr. The foundation's structural differentiator is its embedded-fellow model — rather than issuing open calls for proposals, it places named Rappaport Fellows inside specific departments at Harvard, MGH, and McLean. This architecture makes the foundation a talent pipeline for Boston's establishment institutions, with program design that reflects the Rappaports' own history as builders who operated through relationships with city government and academic medicine. Succession planning remains private, though the board includes second- and third-generation family members.

## Sectors

- Public Policy
- Healthcare Services
- Arts & Culture

## People

- Phyllis Rappaport — Founder and Chairperson
- Jerome Lyle Rappaport — Deceased

## Questions

### Who controls the foundation's grantmaking decisions?

Phyllis Rappaport serves as Chairperson and exercises significant influence over grantmaking priorities. The board includes family members Jonathan Rapaport (stepson of Jerome) and James Rappaport Jr. (grandson), along with Janet Aserkoff, former General Counsel to the Rappaports' real estate firm New Boston Fund. Program officers at partner institutions — Harvard Kennedy School, Massachusetts General Hospital, and McLean Hospital — administer the fellow selection processes within frameworks the foundation sets.

### Where does the foundation's wealth come from?

The endowment was funded by the proceeds of New Boston Fund, the real estate development and investment firm founded by Jerome Lyle Rappaport. Rappaport was a major figure in Boston commercial and residential development from the 1960s onward, with projects including One Brigham Circle, 116 Huntington Avenue, and One Greenway. Phyllis Rappaport served as a director of New Boston Fund alongside her philanthropic role.

### Is the foundation connected to Harvard University beyond the fellowship program?

Yes. Phyllis Rappaport serves on the Harvard Kennedy School Board of Advisors, and the Rappaport Institute for Greater Boston is housed within the Kennedy School. The relationship is institutional rather than transactional — the institute functions as a permanent center within the school, with foundation funding supporting its fellowship program specifically, not the school's general budget.

### What is the foundation's investment posture?

The foundation's portfolio historically included direct secondary investments, fund-of-funds commitments, and growth-stage allocations, though current asset allocation is not publicly disclosed. With an estimated $46 million in assets (Altss estimate), the foundation operates below the threshold where dedicated internal investment staff is typical. Investment management arrangements are not publicly detailed.

### How does the Rappaport Center at MGH differ from the McLean initiative?

The Rappaport Center at Massachusetts General Hospital focuses on neurodegenerative disease research, particularly Alzheimer's and related dementias, supporting senior researchers and clinical investigations. The Rappaport Mental Health Initiative at McLean Hospital — a separate Harvard-affiliated institution — funds early-career psychiatrists and mental health research. Both use a fellowship model, but target different career stages and disease areas.

## Related profiles

- [Oglethorpe University](https://altss.com/profile/oglethorpe-university)
- [Robert Morris University](https://altss.com/profile/robert-morris-university)

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

Canonical page: https://altss.com/profile/phyllis-and-jerome-lyle-rappaport-foundation

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