The Bunbury Fund - Multi-Year Capacity Building Grants

The Bunbury Fund was established as a donor advised fund at the Princeton Area Community Foundation in 2015, evolving from The Bunbury Company, a private foundation founded in 1952 by Dean Mathey. Originally conceived with a touch of humor—named after a character in Oscar Wilde's play—the fund reflects Mathey’s long-standing philanthropic commitment to central New Jersey. Over its operational span as a private foundation, The Bunbury Company distributed over $75 million to support social, environmental, and educational initiatives. The transition to a donor advised fund marked a strategic decision to continue the philanthropic legacy in a modern context, leveraging the administrative and strategic infrastructure of the Princeton Area Community Foundation. The mission of The Bunbury Fund has been to strengthen the organizational capacity of non-profit organizations in central New Jersey, with a particular focus on Mercer County. The fund specifically supported nonprofits aiming to mature sustainably and achieve deeper, more effective impact. By concentrating on capacity-building grants, The Bunbury Fund helped recipient organizations invest in their internal systems, governance, leadership, and strategic planning—elements critical to long-term effectiveness and operational resilience. From 2015 to 2025, The Bunbury Fund was advised by a dedicated group of community leaders who brought experience and insight to the grantmaking process. The advisors worked collaboratively with staff at the Princeton Area Community Foundation, including noted contributions from former CEO Jeff Vega, current CEO Mathieu Nelesson, and grantmaking colleague Danny Freund. The fund emphasized trust-based philanthropy, developing close, respectful relationships with grantees over time. This approach not only enabled effective giving but also informed the advisors’ decision to sunset the fund in 2025, opting to spend down the fund’s assets in a manner consistent with its long-term goals. The 2024 grant cycle marked the 10-year anniversary of the Bunbury Fund’s tenure at the Princeton Area Community Foundation and was the final year of grantmaking. During this period, over $1 million was awarded to local nonprofit organizations in support of capacity-building projects. Grantmaking also included support for training and learning events, such as a seminar focused on the importance of good governance for board and executive leaders. Though the fund did not endorse specific consultants, it encouraged peer learning and information-sharing among grantees regarding consultant experiences. Eligibility for Bunbury Fund grants was targeted toward nonprofit organizations located in or serving central New Jersey, especially Mercer County. Grantees were typically required to demonstrate how their proposed capacity-building efforts would contribute to sustained organizational health. While specific application components are not listed, the fund was known for supporting both strategic and technical initiatives, including infrastructure upgrades, leadership development, and planning work. The grant process emphasized transparency and collaboration, as reflected in the advisory team’s open communications and legacy documentation efforts. The fund formally concluded its operations in September 2025. The Bunbury Fund’s sunset was carefully planned and documented as a model for other private foundations and donor advised funds interested in intentional and impactful closure. Parties interested in learning more or seeking guidance based on this sunset experience were encouraged to reach out via email. The Princeton Area Community Foundation continues to serve as a hub for philanthropic engagement and nonprofit support in the region.