New Hampshire Charitable Foundation

New Hampshire Charitable Foundation

The foundation was created in 1962 by a group of attorneys and civic leaders, including Eugene Struckhoff, to build a permanent charitable endowment for the state. Its corpus grew through bequests from local industrialists such as Neil Tillotson, whose Dixville Notch-based manufacturing company passed to the foundation, and Oliver Hubbard, who left $43.5 million to address substance use disorders. Michael Wilson, Chief Investment and Financial Officer, and Investment Committee Chair Erika Pagel oversee a portfolio that spans traditional equity and fixed-income allocations, timberland, groundfish permits in the Gulf of Maine, distressed debt, and buyout co-investments. The foundation runs a dedicated impact-investment pool that places capital directly into New Hampshire ventures alongside commitments to secondaries and special-situations funds. Real estate holdings include the foundation’s own Concord and Portsmouth offices and residential assets such as Monadnock Village Apartments in Colebrook. The foundation employs a hybrid asset-owner model — both grantmaking institution and direct investor — operating from its Concord headquarters and a Portsmouth outpost. In 2020, MacKenzie Scott contributed $6 million to its Racial Justice Fund. The foundation has held National Standards accreditation since 2006 and participates in Mission Investors Exchange, a national network for impact-oriented allocators. Unlike most community foundations that outsource their investment function, the New Hampshire Charitable Foundation runs a professionally staffed internal investment office that makes direct allocations into local operating businesses and real assets. Its ownership of resource rights — Gulf of Maine groundfish permits — gives it an allocator profile distinct from any peer foundation in New England.