The purpose of the foundation, established by Palmer First National Bank and Trust in 1958, is to facilitate the administration of donations for charitable purposes in Sarasota County, Florida.
The grant program seeks to support corporations, associations, or institutions working towards charitable, religious, educational, literary, or scientific goals. Additionally, it aims to assist organizations in distributing and applying funds towards these objectives. Grant support extends to various program areas including arts, culture, and humanities; education; environment/animals; health; human services; international/foreign affairs; public/society benefit; and religion. The grants are intended for program support and capital projects.