The Pequawket Foundation was founded on December 31, 1958 by a group of Valley business leaders, initally for the purpose of preserving rail service to the region. Later, the Foundation was funded by the proceeds of the sale of the Gibson Block. This was a gift of Mrs. Helen Gibson, a generous community leader whose mark, along with that of her husband, Harvey Dow Gibson, can be found on myriad community resources around the valley.

Over the years many additional gifts have been received by the foundation from various sources. These gifts have been carefully invested, (and are currently managed by the New Hampshire Charitable Foundation), to enable the Foundation to share its resources most generously within the community. When added to the accrued interest from investment, the principal of the fund now exceeds $400,000. Since its inception, grants to community projects have exceeded a quarter of a million dollars.