Overview

Trustees of Trust Funds

The Trustees of Trust Funds are an elected body of three persons. They are responsible for managing the Trust Funds of the Town in accordance with Massachusetts General Laws, specifically M.G.L. Chapter 41 sections 45-47 and M.G.L. Chapter 203C.

The Trustees oversee about thirty one Trusts having a combined principal value of approximately $55,000. As part of their fiduciary duty, the Trustees are charged with executing a prudent investment policy and distributing funds in accordance with the terms of each individual trust document.

The Trustees have adopted an investment policy that is aimed at generating returns equal to or better than the rate of inflation. The current investment objective focuses on a balance of income generation and growth of principal. The Town Treasurer serves as the custodian of all the Trust assets. The investments are made by a professional investment firm.

There are a total of 31 trusts. Many of these were established in the 1800's and along with some more recent trusts are not funded to a level that generate usable returns. It is the E.A. Goodnow Library trust, the Chandler Bullock Tennis trust and the Princeton Community Trust that are most useful to the Princeton community. We encourage you to donate to any of these funds. 

One example of a trust for residents in financial distress is the Princeton Community Trust (PCT). The PCT was established in 2010 by the voters of the Town. This Trust which is funded by donations and gifts is used to aid residents of Princeton who need financial assistance such as, electricity, taxes, food, medical and dental expenses. Applicants must meet certain income eligibility guidelines. We encourage you to donate to, or apply for assistance from the PCT.

For a complete listing of the Princeton Trusts click here.

To make a donation to one of the Princeton Trusts click here.

To apply for assistance from one of the Princeton Trusts click here.

To apply for heating assistance from Hearts from Heat click here.

(Hearts for heat is an independent charity and is not associated with the Princeton Trusts)