Reading Resident To Lead $3B Cummings Foundation

READING, MA — Reading resident Joyce Vyriotes has been appointed executive director of the Cummings Foundation, one of the largest private foundations in New England with about $3 billion in holdings.

Vyriotes is currently the foundation's deputy director. She will be the third executive director in the Woburn-based foundation's 35-year history, and the first woman in the role.

"I am delighted to pass the baton to such a worthy successor," said Joel Swets, who is retiring after a 15-year tenure as the foundation's executive director. "Joyce's exceptional diligence, sterling leadership, and varied experience in the nonprofit sector will serve the Foundation well in this next chapter."

Cummings Foundation co-founder Bill Cummings said Vyriotes has taken on an increasingly large portion of the foundation's management over the years.

"Joyce has been one of the chief architects of our major annual grant-making initiative, which has grown to award $25 million each year and involve about 150 community volunteers," Cummings said.

The Cummings Foundation will have zero employees on its payroll following this change. Vyriotes will continue to be employed by the foundation's for-profit affiliate, Cummings Properties. In addition to her responsibilities within the foundation, she serves as director of communications and marketing, as well as a member of the executive committee, for the suburban commercial real estate firm.

Most of the buildings managed by Cummings Properties are owned by, and operated for the benefit of, the Cummings Foundation, with 100 percent of the rental profits going to charitable causes. The Cummings organization was recently named the Commonwealth's "Top Charitable Contributor" for the fifth time by Boston Business Journal.

"It has been incredibly rewarding, enlightening, and just plain fun to be part of an organization that infuses philanthropy with an entrepreneurial spirit," said Vyriotes. "I’m excited to continue working with greater Boston nonprofits, the Foundation’s generous volunteers, and my Cummings colleagues to benefit local communities."

Prior to joining Cummings in 2010, Vyriotes spent a decade in the nonprofit sector in Tucson, AZ. She fundraised for the American Cancer Society and Arizona Cancer Center, later serving in a patient services role with the Muscular Dystrophy Association.

She said a major reason the foundation is able to award more than $25 million annually with no paid staff is its volunteer model. More than 150 community leaders select the majority of grant winners each year and then maintain relationships with those organizations on behalf of the foundation.

Vyriotes lives in Reading with her husband Paul and their dog Yogi. She earned a bachelor's degree from Mount Holyoke College and a master's in Integrated Marketing Communications from West Virginia University. An avid triathlete, she is a member of the Mystic Running Club and TriFury Triathlon Team.

She will assume the role of executive director Oct. 1.