Massachusetts Governor Deval Patrick and Boston Mayor Menino today announced the formation of The One Fund Boston, the purpose of which is to raise money to help those families most affected by the tragic events that unfolded during Monday’s Boston Marathon.
“I am humbled by the outpouring of support by the business community and individuals who are united in their desire to help; The One Fund Boston will act as a central fund to receive much needed financial support,” Governor Patrick said. “At moments like this, we are one state, one city, and one people.”
According to Mayor Menino, support from the business community was immediate. “Within an hour, I had calls from business leaders and local philanthropists who, like me, were heartbroken by the impact this hideous tragedy has had on individuals, their families, and friends. And they want to do everything they can to help these people physically and psychologically in the future.”
The cornerstone donation to The One Fund Boston is a $1 million commitment from John Hancock. “John Hancock is honored to contribute to The One Fund Boston, aiding those who were affected by this terrible event,” said Craig Bromley, President. “The Boston Marathon is about courage and resilience and community. John Hancock, which has been headquartered in Boston for more than 150 years, will continue to stand by our city, the people of Boston, our community partners, the runners, and the Boston Athletic Association as we unite in recovery and in renewal of our commitment to the Boston Marathon.”
Other individuals and corporations making commitments to The One Fund Boston include Jack Connors, John Fish, CEO of Suffolk Construction, Brian Moynihan, President and CEO of Bank of America, Paul Grogan, President of The Boston Foundation, Steve Pagliuca, Managing Director of Bain Capital and co-owner of the Boston Celtics, Larry Lucchino, CEO of the Boston Red Sox, and Mike Sheehan, CEO, and Karen Kaplan, President of Hill Holliday.
Boston law firm Goodwin Procter has volunteered to organize The One Fund Boston and has applied for 501(c)(3) status. One Fund Boston, Inc. will apply for 501(c)(3) tax exempt status with the Internal Revenue Service. Although the Fund cannot guarantee that the IRS will make a determination that the organization qualifies as a 501(c)(3) tax-exempt entity, if approval is received within the expected time frame, the determination will be retroactive to the date of the Fund’s formation, which is April 16, 2013.
“We are one Boston. We are one community. As always, we will come together to help those most in need. And in the end, we will all be better for it,” Mayor Menino said. To contribute to The One Fund Boston, click on onefundboston.org.