Stonewalls Grace the Natural Landscape
Vineyard House Fundraiser. Photo courtesy of petersimon.
Quiet Island Waters
The Permanent Endowment for Martha’s Vineyard was established in 1982 as a public charity dedicated to improving the quality of life for all of the Island’s communities and to promoting and increasing responsible and effective philanthropy. As the Island’s community foundation, our major goals are to:
- Assist donors in building and preserving enduring assets for charitable purposes throughout the Island.
- Provide grants for significant activities by Island-based public and charitable organizations.
- Fund scholarships for Island students pursuing higher education.
- Monitor and assess the Island’s changing needs and promote and act on important issues.
Community foundations are unique charitable organizations. They are designed to promote and facilitate philanthropy to strengthen a particular geographic area. Since 1914, when the first community foundation was established in Cleveland, Ohio, the number of community foundations in the United States has grown to nearly 700, with 17 in the Commonwealth of Massachusetts. As of 2007, community foundations held approximately $35 billion in assets and distributed more than $2.6 billion in support of programs and nonprofit organizations throughout the country.
As one of the largest philanthropic organizations on Martha’s Vineyard, the Permanent Endowment is dedicated to serving as an advocate for important issues and as a resource for organizations throughout the Island. In the past five years, the Endowment’s assets have grown more than 14 percent, totaling nearly $7.4 million at the end of 2010.
The Endowment provides grants for programs and services in a broad range of areas including art and culture, community and civic affairs, education, the elderly, the environment, health and human services, housing, recreation and youth. Last year, our grant making totaled over $105,000 supporting the work of 48 organizations, or approximately one thrid of the nonprofits on the Island. We also awarded 54 scholarships to Island students in the amount of $123,600.
At the Permanent Endowment, we work to promote local philanthropy and welcome contributions from anyone wishing to make a difference on the Island. When you partner with us, we work together to support the causes you care about through our General Discretionary Fund or a fund of your own. We offer a simple, personal approach to giving, accepting a range of assets of virtually any size from individuals, families, businesses and other organizations. These assets are invested by the Martha’s Vineyard Financial Group, our trustee bank's investment services group, for long-term growth to ensure that funds are available now and in the years to come.