Background

The Reynolds Charitable Trust was created from funds donated to the Town of Exeter by Captain John Reynolds. Upon his death in 1844 Captain Reynolds' will left a sum of money to be used for the purchase of a "poor farm." There is no actual trust document. The funds were not used but were invested and continued to grow to a considerable sum.

The Exeter Town Council being unsure of how it could put the funds to use petitioned the Superior Court for direction. The Court ruled that the Will of Captain Reynolds established a public charitable trust. The Court appointed the Exeter Town Council as trustee with funds to be administered pursuant to the "Reynolds Charitable Trust General Rules" which are part of the Court Order.

Subsequent to the Court's ruling, the Town of Exeter adopted the Reynolds Charitable Trust Ordinance (which can be viewed on the Town website in Chapter 2 Article V) and commissioned a Reynolds Charitable Trust Committee. This Committee has the responsibility to identify and recommend eligible recipients to the Exeter Town Council (the Trustee) for final approval.

Reynolds Charitable Trust Funds are to be used for "accommodation and the betterment of less fortunate Exeter residents." Circumstances may arise when a resident may need a helping hand in obtaining food, clothing, shelter, senior services, literacy or healthcare.

Each situation is unique, and assistance is considered in keeping with the spirit of Captain Reynolds’ gift. Grants may be awarded to individual residents and organizations that improve the quality of life for our less fortunate residents. All grants are awarded on a priority of need basis and are limited to $5,000 absent extraordinary circumstances. Some expenses not covered may include, but are not limited to, annual taxes, or credit card balances. The Trust Funds cannot be used to alleviate general municipal obligations. Educational programs, including scholarships, may be available to residents displaying a need for assistance and the acumen to complete the academic program.