In 2013, Jacobs paid for a two-year study on the nutrition and food preferences of cancer patients. The study, called the Cancer Nutrition Consortium, focused on patient preferences and issues related to their ability to eat and drink while undergoing cancer treatment, including therapies like chemotherapy and radiation. The consortium aimed to help cancer patients make healthy choices that will support their treatment.
On April 17, 2013, Jacobs announced that he had pledged $100,000 on behalf of the Bruins and its players to The One Fund Boston to help victims of the Boston Marathon bombing and their families.
Jacobs holds honorary doctorates from the University at Buffalo, Canisius College, Johnson and Wales University, and Niagara University, where he was awarded an honorary doctor of commercial science in October 2013.