Carl J. Shapiro facts for kids

Carl J. Shapiro (born February 15, 1913 – died March 7, 2021) was an American businessman and a very generous giver, also known as a philanthropist. In 1939, he started a company called Kay Windsor, Inc. in New Bedford, Massachusetts. He grew this company into one of the biggest women's clothing businesses in the United States. He was the boss of the company and later became a director for VF Corporation, which bought Kay Windsor. He retired in 1976.

Helping Others Through Giving

In 1961, Carl and his wife, Ruth, created The Carl and Ruth Shapiro Family Foundation. This foundation helps many non-profit groups in the community. These groups work to improve the lives of people with disabilities, those who are disadvantaged, and people who are left out. The foundation has supported about 65 organizations. These organizations help with things like art programs for young people, education for adults, support for victims of domestic violence, and special technology for people with disabilities.

Carl and Ruth Shapiro also became big supporters of Brandeis University starting in 1950. Ruth joined a special committee at the university in 1948. Carl served on the university's board of trustees for many years. They gave a huge gift of $25 million to build the Carl and Ruth Shapiro Campus Center in 2003. They also helped fund the admissions center and supported a special teaching position in international finance. The Shapiros also funded the Carl and Ruth Shapiro Center for Library Technology and Journals at the university's library. In 2003, Brandeis University gave Carl Shapiro its highest honor for his strong dedication to making the world better.

Shapiro also started the Carl J. Shapiro Institute for Education and Research. This institute works with important medical centers in Boston, including Harvard Medical School, Boston Medical Center, and Beth Israel Deaconess Medical Center. In 2005, the Shapiros donated $25 million to Brigham and Women's Hospital. This money helped create the Carl J. and Ruth Shapiro Cardiovascular Center. This center is a very advanced facility for heart and blood vessel care. In 2008, they also promised $27 million to the Dana-Farber/Brigham and Women’s Cancer Center. This helped improve and expand their services for cancer care.

The Shapiros also gave money to many other important places. These include the Museum of Fine Arts, Boston, Wellesley College, the Boston Symphony Orchestra, and several art museums and opera houses.

Financial Challenges and a Scam

Carl Shapiro and his family foundation faced significant financial losses because of a large investment scam run by Bernard Madoff. Madoff was an old friend of Shapiro.

Shapiro and his family lost a lot of money from this scam. In 2009, Carl Shapiro's family foundation changed its tax records to show over $140 million in losses from 2005.

To help resolve the situation and provide money for the victims of Madoff's scam, Shapiro and his family agreed to give $625 million to the United States government. This amount was more than what Shapiro and his wife had at the time. It was also more than the fake profits they had supposedly made from Madoff's business. The agreement stated that there was no finding or admission of fault against Shapiro or his family. This means the agreement did not say that Shapiro or his family did anything wrong.

Personal Life

Carl Shapiro was married for 73 years to Ruth Gordon. They were both Jewish. Ruth passed away in 2012. They had three daughters: Rhonda Shapiro Zinner, Ellen Shapiro Jaffe, and Linda Shapiro Waintrup. After 2009, Shapiro spent his time between Boston and Palm Beach, Florida.

Carl Shapiro turned 100 years old in February 2013. His daughter Ellen is married to Robert M. Jaffe, who is a money manager. Another daughter, Rhonda Zinner (who passed away), was on the Brandeis University Board of Trustees. She was also a key organizer for the family's charitable projects, including the university's new campus center. Carl Shapiro passed away on March 7, 2021, at his home in Boston. He was 108 years old.

See also

• List of investors in Bernard L. Madoff Securities