The Pratt-Northam Foundation was established in 1962 to benefit the people of the Black River Valley, from Boonville in the South to Carthage in the North,  by providing financial support to not-for-profit organizations.

The foundation is named for the late C. Walter Pratt of Boonville, New York, and his cousin the late Miss Hazel Northam of Brooklyn, New York. It was established by Miss Northam and has been perpetuated under the terms of her will.

For 15 years the Foundation funded a scholarship program for area students seeking to further their education. In 1979, members of the board of trustees expanded their vision, enlarging the board, and changing the foundation's philosophy to benefit a wider population through the use of its resources.

Today, operating as a perpetual trust, the foundation strives to fulfill community needs, which neither government nor private enterprise can reasonably accomplish. The change in vision allows more people and more communities to benefit from an estate built originally on profits from the local industries.