2007 Annual Report - Greater Worcester Community Foundation

The Jeppson Memorial Fund
A family rooted in Worcester nurtures its home
W hen the Brookfield librarian saw that her young
patrons were not using bicycle helmets, she and the police
chief organized a Bike Safety Program, complete with
prizes for students—50 free helmets. A grant from the
Jeppson Memorial Fund provided most of the program’s
$1,400 budget.
Other grants have upgraded the Fire Department’s
communications system and supplied the town with
playground equipment, cherry trees, and curtains for the
town hall. “Each year’s grants total about $7,000,” says
John Jeppson II, whose grandfather John Jeppson I
(1840 - 1920) was among the founders of the Norton
Company. “The money is well used. We’re happy to see
all that it does for the town.”
Like his father, George Jeppson (1873 - 1962), John
served as president and CEO of the Norton Company.
Now that he is retired, John and his wife Marianne live
year-round at Oakholm, a dairy farm in Brookfield that
his parents bought as a summer home in 1925. Four
generations of Jeppsons gather at Oakholm for family
celebrations.
The town is just one of the designated beneficiaries of
the Jeppson Memorial Fund. Each year the Foundation
distributes a portion of the endowed fund to grantees
that represent the abiding interests of the family.
The Jeppsons created their fund 30 years ago by
transferring most of the money in their family
foundation, about $1.1 million, to Greater Worcester
Community Foundation. Their large gift helped to
ensure the survival of the community foundation, then in
John and Marianne Jeppson host four generations of Jeppsons at
Oakholm, a farm in Brookfield that is their home.
its second year. “We did it to preserve our assets and use
their income forever for the good of Worcester County,”
says John. “We wanted to put money back into the
community that has been so good to us.
“The Foundation’s many advantages include professional
investment of funds,” John continues. “While providing
annual grants in perpetuity to the causes we care about,
our fund has grown almost fourfold.”
W
hile providing annual grants in perpetuity to the causes
we care about, our fund has grown almost fourfold.
John Jeppson II
On left: The Brookfield Fire Department upgraded its communications
system with a grant from the Jeppson Memorial Fund.
Greater Worcester Community Foundation • 07 ANNUAL REPORT
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