The Martha’s Vineyard Bank Charitable Foundation granted nearly $500,000 to organizations on the Island and in Falmouth Tuesday evening at Camp Jabberwocky.

The two largest grants of the evening went to the Chilmark Preschool and the YMCA of Cape Cod. The Chilmark Preschool received $200,000 and the YMCA of Cape Cod received $250,000.

The Chilmark Preschool is currently in the middle of building a new school and the project is expected to be completed in time for the 2026-2027 school year.

According to Rebekah Thomson, president of the preschool board of directors, they have raised $3.6 million out of the $4.6 million needed.

“The preschool has been operating for 20 years out of a leased classroom in the Chilmark School and they need that classroom back,” she said. “So in order to continue providing that essential service, we are raising money to build a new building serving not just preschoolers, but also expanding to serve toddlers, a huge, underserved population on the Vineyard.”

According to Martha’s Vineyard Bank CEO James Anthony, the foundation has given away more than $9 million dollars to nonprofits since its inception six years ago. It has also distributed over a million dollars so far in 2025.

“Tonight is about gratitude. It’s about community. It’s about celebrating the people and organizations that make Martha’s Vineyard and Falmouth the extraordinary places to live that we know and love so much,” Mr. Anthony said to the crowd.

The foundation announced that the first recipient of the Ronald H. Rappaport Scholar Fund will be awarded next year.

“That will be concentrating on students who are natural leaders and who are really working toward bettering the communities they live in,” foundation community engagement director Jennifer Ray said.

Mr. Anthony thanked the community for their continued support.

“All of this is our attempt to cast light on the nonprofit organizations and all the effort that goes into that, and we strive to do that the best that we possibly can,” he said.