The Grace Foundation was founded in December 1950, and held its first meeting on Taylors Island, Maryland on May 13, 1951. The first officers were Senator George L. Radcliffe as President, F. Arnold Travers as Treasurer, and George M. Radcliffe as Secretary. The Articles of Incorporation state that the purpose of the foundation is to “receive, hold, and administer property of all kinds for charitable, historic, scientific, religious, and educational purposes pertaining to Taylors Island and its surrounding territory.” It is understood that the preservation of the history and traditions of Taylors Island remain a primary objective. The foundation has taken ownership, and responsibility for maintenance and preservation, of several buildings and four graveyards on the island. An annual meeting is held every spring on Taylors Island on the grounds of Grace Church.  Membership is open to the public.

Grace Episcopal Church, Taylors Island was once part of Dorchester Parish in the Episcopal Diocese of Easton. Its parent church was “Old Trinity Church,” located approximately 10 miles down the road near Church Creek, MD. Grace Church was built in 1873 at the cost of $3,500 by the residents of Taylors Island to replace the 18th century “chapel of ease” that had been overseen by the clergy and vestry of Dorchester Parish. In 2009, the Dorchester Parish Vestry transferred the church and its graveyard to the care of the Grace Foundation. The Church is now used only occasionally for religious services, and for the annual service and meeting of the Grace Foundation each Spring. Grace Church is located 1 mile straight from the bridge that brings you onto the Island on the right hand side of the road.