The Phineas W. Sprague Memorial Foundation is an independent, private foundation that makes grants to assist charitable and non-profit organizations that have personal relevance to Sprague family members. Preference is given to Maine and New England organizations. It has a four-person Board of Directors, elected annually. Every year for the past fifty-four years, the Foundation has made donations to non-profit organizations in the categories of education, culture and the arts, social services, and the environment. Grant requests are sent via sponsoring family members and the trustees determine the final awards in the 4th quarter of each year.
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