Trustees of Trust Funds

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STRUCTURE

Under NH State Law, every municipality with trust funds must keep these funds separate from other municipal funds and in the custody of "Trustees of Trust Funds."

The trustees are required to:

  1. Perform duties as the fiduciary custodians of all the separate trust funds,
  2. Provide for the safe-keeping and preservation of the trust fund assets,
  3. Invest and manage these funds with "due diligence" and a plan for long-term growth and
  4. Provide for the proper disbursement of the trust fund income as per the funds' stipulations.

In Portsmouth, the Trustees of the Trust Funds approve the disbursement of funds each year, based on the performance of the 72 invested funds it oversees. These include:

  • Prescott Park funds,
  • Scholarship and school funds
  • Housing funds
  • Memorial, commemoration and library funds and the endowment.

For details on each of these sectors, click on the icons above. The trust funds are considered assets of the City of Portsmouth ,included in the annual financial statements of the City, and are reported to the NH Department of Revenue annually. (For recent MS-9 reporting forms click here.)

The three Trustees of the Trust Fund in Portsmouth (listed below) are appointed by the Mayor and confirmed by the City Council for a three-year term. The terms are staggered so that a trustee position comes up for appointment each year. Trustees may serve more than one term. The Trustees meet once each month at meetings that are open to the public.

Board Members

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Name Address Home Telephone Appointment Date Expiration Date
Peter G. Weeks 18 Congress St., Unit 305 (603) 436-5059 12/14/2020 1/1/2024
Dana S. Levenson 6 Currier's Cove (603) 498-9261 12/02/2019 1/1/2023
Thomas R. Watson, Chair 200 New Castle Ave. (603) 770-6100 12/20/2021 01/01/2025

Previous Board Members

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  • Charles M. Dale, 1949-1954
  • Edwin H. Buck, 1949-1954
  • Dorothy F. Lear, 1954-1972
  • Arthur Gorman, 1954-1963
  • Arthur F. Brown, Jr., 1963-1973
  • Robert F. McLaughlin, 1963-1973
  • James R. Kelly, 1963-1974
  • Arthur E. Splaine, Jr., 1972-1978
  • Morris D. Levy, 1973-1979
  • Paul M. McEachern, 1974-1980
  • Teddy E. Lilakos, 1978-1981
  • Kevin M. Guy, 1980-1985
  • Raymond A. Brighton, 1981-1986
  • John R. Maher, 1987-1989
  • Philip J. Weeks, 1979-1990
  • John J. Foley, Jr. 1988-2001
  • Charles L. Vaughn,  2001-2002
  • William E. Elwell, 1990-2005
  • Jameson S. French, 1990-2007
  • Eileen D. Foley, 2002-2007
  • Lea H. Aeschliman, 2005-2011
  • Bradley M. Lown, 2007-2012
  • Phyllis Z. Eldridge, 2007-2018