Friends Fiduciary serves as trustee for more than 80 trusts representing assets of over $70 million. Many of the trusts were established in the 1700s, and, nearly all the trusts are for distinct purposes benefitting specific organizations. For example, Quakers have historically left money in perpetuity for the care and maintenance of their Meetinghouses, the well-being of the “aged and infirm”, and scholarships for children attending Friends schools. The foresight of early Quaker philanthropists and their generous gifts continue to have impact in our world today.
There are a few trusts held by Friends Fiduciary that provide discretion in how funds may be distributed. In those instances, a Discretionary Granting Committee considers requests for funds and how the funds should be used. The Discretionary Granting Committee makes informed recommendations to the Charitable Services Committee of the Friends Fiduciary board. If the recommendations are approved by the Charitable Services Committee, the funds are then distributed to the grantees. Below are three trusts that are administrated by Friends Fiduciary.
Founded in 1842 by a generous bequest from Hartt Grandom, a Quaker, today the Grandom Institution is a collection of several Philadelphia area trusts. The Institution initially provided grants directly to individuals. Today, the Grandom Institution makes grants to organizations (both Quaker and non-Quaker) serving low-income people, for a range of energy assistance, energy and self-sufficiency purposes.
The Fund provides financial grants supporting Quakers who are over the age of 21 and who request assistance for professional development in preparing themselves to teach at the primary or secondary school level and those who seek to improve their skills with a graduate degree. Priority is given to those candidates who make a personal contribution to their own advancement and who have low to moderate incomes.
The Tyson Memorial Fund supports the needs of Friends institutions and Meetings, with emphasis on Friends education, religious interest, and services to the elderly.