Narragansett Number One Foundation

**How we began** Narragansett Number One Foundation is a Maine nonprofit corporation established by Pat and Erwin Wales on September 7, 2001, thirteen days after winning the national Powerball lottery drawing. To get things started, the Wales family donated $5 million. Other individuals, organizations, or companies may donate, if they are so inclined. The Foundation has Internal Revenue Service tax-exempt status as a private foundation. Pursuant to its bylaws and pertinent IRS regulations, each year the foundation will award grants equal to, or exceeding slightly, five percent of the value of its assets. **How we help** The Narragansett Number One Foundation will concentrate first on helping our neighbors in Buxton, Maine, and surrounding areas. Once the Foundation reviews and contributes to the most deserving causes in this geographic area, the Foundation may make future grants to charities throughout Maine and elsewhere. Specifically, we will look to help schools, fire departments, police departments, parks, recreational facilities, religious organizations, libraries, shelters for children, the homeless and abused persons, museums and shelters for animals. As a private charitable foundation we are required to restrict our grants to public (governmental) entities and organizations that have qualified for tax exempt status under section 501(c)(3) of the Internal Revenue Code. We are unable to give money to individuals, and other non-qualified organizations.