Click to enlarge Cummings Properties Foundation was established in February 1986 as a 509(a) private foundation,with the mission of supporting worthwhile charitable organizations and endeavors in the communities where Cummings Properties has significant business interests. The vast majority of all funding has been internal, and from the considerable growth of the foundation's investments.

Cummings Properties, LLC, and William S. and Joyce M. Cummings of Winchester, MA, individually provided most of the foundation's financial base. Among other activities, she has been a director of VNA Hospice Care, Inc. and Winchester Community Music School, and president of ENKA Society of Winchester, as well as co-chair of Winchester Friends of VNA Hospice Care, Inc. She is also a former trustee of Massachusetts Eye and Ear Infirmary and chaired the women's golf program at Winchester Country Club.

Bill is founder and chairman of Cummings Properties, LLC and several dozen other corporations, and is very involved in numerous community activities.

The foundation's first major charitable venture came in 1990, with the initial funding and ongoing sponsorship of New Horizons at Choate, a not-for-profit independent and assisted living retirement community in Woburn, MA. Built from the former Choate Hospital following its bankruptcy, New Horizons now houses 125 seniors from diverse backgrounds. It is considered by many to be one of the finest communities of its type in New England, and has served as the state model for assisted living residences. For more information on New Horizons, please see the Retirement Living section on this web site.

In addition to New Horizons, the foundation's other primary charitable focus is the McKeown Scholars Program, named after Cummings Properties' late president, James L. McKeown, who died unexpectedly of heart failure in November 1996. The program awards at least $150,000 in $5,000 and $10,000 merit scholarships each year to high school students in communities where Cummings Properties operates.

Cummings Properties Foundation
and
New Horizons at Choate, Inc.

Consolidated Balance Sheet
a/o December 31, 1998

*Represents net market value of assets as of 10/31/98

CPF begins McKeown Scholars Program Cummings Properties Foundation (CPF) developed the McKeown Scholars Program in 1996, in memory of James L. McKeown, late president of Cummings Properties and former managing trustee of CPF, who died suddenly in 1996 at the age of 41. In his honor, CPF set aside one million dollars to perpetually fund at least 20 merit scholarship awards each spring from $5,000 to $10,000 each to outstanding college-bound high school seniors in communities where Cummings Properties has substantial interests. Neither Cummings Properties nor CPF, however, takes any direct role in the actual selection process in any of the participating communities. Mr. McKeown was a well known business leader, widely respected for his outstanding professional expertise, as well as his mild manner, unwavering integrity, compassion, and far reaching desire to provide opportunities to others, particularly young people. A Woburn native and graduate of Woburn high school, Salem State College, and University of Vermont, Mr. McKeown also studied at the Harvard Graduate School of Design and had lectured at the Center for Massachusetts Continuing Legal Education. Spending his entire working career with Cummings Properties, Mr. McKeown maintained many community roles, including service as member and treasurer of Woburn Industrial Development Finance Authority and president of Woburn Business Association. He was once selected as Boy of the Year of Woburn Boys Club, from which he went to become the first alumnus of the club ever to be selected as director, and then served two terms as its president as well. Eligibility and selection criteria for the McKeown Scholars Program represent qualities, values and achievements Mr. McKeown embodied and would most likely have considered himself in determining award recipients. Some of these criteria include scholarship, excellent writing ability, community service, reputation for fairness and integrity, and a demonstrated concern for helping others. All college bound students at participating high schools academically ranked in the top 20 percent of their graduating class may compete. Financial need is not a consideration.