How a frugal cattleman has sent students to Harvard for over a century
Jonathan Maynard Parmenter. Photo courtesy of The Parmenter Foundation. Jonathan Maynard Parmenter lived a simple life. He and his brother Henry drove cattle between Massachusetts and New Hampshire and shared the family’s modest farmhouse in Wayland, Mass. However, heeding advice from a local friend, he quietly invested his income from cattle with the Harvard Trust company in a range of nascent industries – such as rail, steel, mills, telephone, electricity, and manufacturing. Meanwhile, Parmenter appeared to have never spent a penny on himself, preferring to maintain the New England farm-lifestyle he’d long grown accustomed to. When he died in 1916, Parmenter left an estate worth more than $1 million dollars – to the pure shock of all those who knew him. In his will, he donated to his neighbors, family and local church, but Parmenter also designated a trust fund of $200,000 to go to scholarships that would enable “needy and deserving undergraduates” to attend Harvard College. The terms of the fund stipulate that the entire income be paid annually to Harvard University for Parmenter Scholarships at Harvard College. Since 1916, the Cambridge Community Foundation has been the trustee of the Fund, gifting annually over the course of a century
