During this period of time, as Mr. Gosman was acquiring his own wealth, he also was mindful of his obligation to the community. He donated approximately $15 million to charities primarily in the arts and health care. Some of his donations were made locally. For example, $1 million was donated to the Kravis Center for the building of the Gosman Amphitheater and $250 thousand went to the Norton Museum of Art. Other local beneficiaries of his generosity were United Way, Home Safe and Good Samaritan Medical Center, to name just a few. His major gifts were to the Dana Farber Cancer Institute, the athletic facility at Brandeis University and for the campus of the Jewish Community Center - all three of which bear his name. He has also been a major donor to the Massachusetts General Hospital, Boston University as well as other institutions.

Mr. Gosman is a Life Trustee for the Kravis Center for the Performing Arts; he is a Trustee of the Dana-Farber Cancer Institute; he is a member of the Board of Overseers for the Beth Israel Deaconess Medical Center; he is a member of the Board of Overseers for the Massachusetts General Hospital; he is a former Trustee of Boston University Medical School Board of Visitors; and was one of the first recipients of the Ellis Island Congressional Medal of Honor.