The purpose of the fund is to serve as an independent; community based non-profit organization operating to support the needs of the Point Pleasant Beach Community. The Fund will look to secure grants and/or gifts for the benefit of Point Pleasant Beach. Any community organization sanctioned by the municipality will be able to bring a proposal to the Community Endowment Fund in the hope that the Fund will be able to secure a grant for the organization. Future expectations would be that an individual with a strong attachment to the Point Pleasant Beach Community would bequeath funds or property to the community. At such time the bequest would be held by the Fund and the property or funds would be disbursed or utilized in the best interest of the Point Pleasant Beach community.