Rhode Island Foundation Expands Board to Steer Grants
The foundation added two new directors to manage its $1.7 billion portfolio and guide regional funding priorities.
Updated on Oct. 21, 2026 in People
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The Rhode Island Foundation has appointed Ted Long and George Matouk Jr. to its board of directors. The organization, which manages $1.7 billion in assets, relies on its leadership to guide grantmaking and investment strategies for thousands of local nonprofits.
Why it matters
Board shifts at large philanthropic institutions can signal changes in regional funding priorities and institutional investment focus. These additions bring expertise in health, sustainability, and economic mobility, areas that influence the operational landscape for state-based nonprofits.
The Rhode Island Foundation reported $1.7 billion in assets at the end of 2025, alongside $93 million in grants distributed to 2,500 organizations. The institution also saw a 16.2% investment return during the year.
The players
Ted Long
A partner at the law firm Holland & Knight LLP.
George Matouk Jr.
The CEO of John Matouk & Co., a luxury home textile manufacturer.
Rhode Island Foundation
A Providence-based philanthropic organization with $1.7 billion in assets that provides grants to local nonprofits.
The details
The board additions aim to bolster the foundation's capacity in areas including education, sustainability, and civic initiatives. As one of the state's largest grantmakers, the foundation's board exerts significant influence over the allocation of capital to non-profits and the development of long-term economic mobility programs across Rhode Island.
Timeline
October 21, 2026: The foundation announced the appointment of the two new board members.
2025: The foundation awarded $93 million in grants to 2,500 organizations.
1929: John Matouk & Co. was founded.
Market Landscape
These appointments occur within the context of the Rhode Island Foundation's 110-year history of local philanthropy. The move reflects the organization's ongoing effort to align its governance with long-term regional economic and health goals.
Nonprofit operators should monitor upcoming foundation priority announcements, as these board members may influence future grant criteria and focus areas. Directors like Matouk and Long typically drive shifts in how capital is deployed across health and economic sustainability initiatives.
The takeaway
Large-scale grantmakers often adjust their strategic direction when new board members are seated, providing an opportunity for nonprofits to re-align their outreach. Monitor the foundation's next round of grant announcements to see if funding patterns shift toward the stated expertise of the new directors.
Further reading
For more on shifts in state-level leadership and governance, read our coverage on Rhode Island People.
Source note: This article includes information reported by Providence Business News.
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