Yawkey died from leukemia in Boston on July 9, 1976. His wife, Jean R. Yawkey, became president of the club following his death. The Yawkey Foundation was established in 1976 through a bequest in his will. The foundation later recorded $420 million in 2002 income after the sale of the Red Sox. Alongside a second foundation formed in 1982 by Jean Yawkey, the Yawkey Foundations donated $30 million in 2007 for the Dana–Farber Cancer Institute to build the Yawkey Center for Cancer Care in Boston.