Our Foundation

The Oliver P. Killam Private Foundation was established in 2007 at the behest of the late Marblehead resident Oliver Killam who willed the bulk of his life savings to provide need-based scholarships to Marblehead High students pursuing college degrees.

Eighty percent of the foundation’s annual interest income funds the scholarships, while 20% is dedicated to the Children’s Room at Abbot Public Library.

To date, the foundation has awarded over $5 million in scholarship and donated almost $1 million to the library.

Meet Oliver

Oliver Porter Killam Jr. had a restless curiosity and a willingness to take risks that shaped his life in unexpected ways. Raised in Boxford, Massachusetts, he was just 17 when he set off on a cross-country drive to see the United States for himself—a bold undertaking at a time when the highway system was still developing. That independent spirit stayed with him as he built a life filled with varied pursuits.

He eventually settled in Marblehead, Massachusetts, where he explored different careers. He ran a restaurant, founded a sign company, crafted furniture for schools and businesses, and purchased a large Pleasant Street property (now home to The Mariner Marblehead). But it was in the stock market that he found his true financial success, developing a keen knack for investment.

When Oliver died at 93, he left behind more than just a personal legacy. He willed the bulk of his estate, through his private foundation, for need-based scholarships. Unable to afford college as a young man, he wanted to ensure future generations could pursue their own ambitions. His foundation also provides funding for the children's room at Abbot Public Library, a quiet but lasting contribution to the community he had come to call home.