philanthropy

Providence Journal establishes permanent endowment

Posted 1/18/13

In an effort to ensure its legacy will live on indefinitely, The Providence Journal Charitable Foundation announced Monday that it has established a corporate-advised fund at The Rhode Island Foundation.

The Providence Journal Charitable Fund is a $14 million permanent endowment and currently the largest corporate-advised fund held at the Rhode Island Foundation. It will serve to continue the foundation’s distribution of annual grants that support the arts and environmental, social-service and education programs throughout Rhode Island and southeastern Massachusetts.

“We are pleased to welcome the Providence Journal Charitable Fund to the Rhode Island Foundation and help carry on its legacy,” said Neil Steinberg, president and CEO of The Rhode Island Foundation. “This is a natural partnership. For generations, both organizations have served Rhode Island and together, we are committed to helping our state thrive for generations to come.”

The Providence Journal Charitable Foundation was established in 1956 by then-Publisher John C. A. Watkins and is currently overseen by Howard G. Sutton, publisher, president and CEO of The Providence Journal and trustee Sandra Radcliffe, the Journal’s executive vice president-finance and administration. During the past decade, the foundation has awarded more than $7 million worth of community grants.

“We plan for The Journal to be around for a long time,” Sutton said. “We continue to provide quality news and other information to southeastern New England, and with this new fund at the Rhode Island Foundation, our philanthropic giving to Rhode Islanders will continue forever.”

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