The Phineas W. Sprague Memorial Foundation was created in 1956 by C. H. Sprague & Son Company in honor of Phineas W. Sprague (1860-1943). P. W. continued the growth of the coal and oil business founded by his father. He was committed to giving back to the community and to creating and preserving a heritage for his family. The foundation was a way that son P. Shaw Sprague and his grandson Phineas Sprague could ensure that his legacy of giving continued into the future.

The Foundation has awarded more than 650 grants totaling nearly three million dollars. Organizations represent key areas of interest for the Foundation: Arts, Conservation, Education and Human Services.

Whether donations for general operating costs or tailored to a specific program, The Phineas W. Sprague Memorial Foundation is committed to carrying on the philanthropic work begun over a century ago by Phineas W. Sprague.

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Enthusiasm, activity, pluck and push are all fine things. To be effective and bring desired results they must be balanced by judgment.
— P.W. Sprague - 1922