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  • John Hancock seeds 'One Fund' for Marathon bombing victims

    April 21, 2013 by The Republican newsroom

    The One Fund Boston, intended to raise money to help those families most affected by the bombing at the finish line of Monday’s Boston Marathon, was announced Tuesday by Massachusetts Gov. Deval Patrick and Boston Mayor Thomas Menino.

    John Hancock Financial Services, the lead sponsor of the Boston Marathon, kicked off The One Fund Boston with a $1 million donation.

    Individuals and other businesses can contribute to the One Fund at onefundboston.org.

    Three people were killed and more than 170 injured when two bombs exploded near the finish line just before 3 p.m. on Monday. Federal agents have said the bombing was carried out with kitchen pressure cookers packed with explosives, nails and other lethal shrapnel. Their investigation into who carried out the bombing, and why, continues.

    In a statement announcing The One Fund Boston, Patrick said, “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,” Patrick said. “At moments like this, we are one state, one city, and one people.”

    In the same statement, Menino said 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.”

    Craig Bromley, President of John Hancock, said, “John Hancock is honored to contribute to The One Fund Boston, aiding those who were affected by this terrible event. 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.”

    According to The One Fund Boston website, other individuals and corporations making commitments to the effort 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 Tuesday’s date of the Fund’s formation, according to the fund’s website.

    “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,” Menino said.

    This article originally appeared on MassLive.com.

    Originally Posted at Boston Business Journal on April 17, 2013 by The Republican newsroom.

    Categories: Industry Articles
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