The Society for Propagation of the Gospel in New England was chartered in 1649 for the purpose of converting the New England Indians. In 1661-1662 it was rechartered and named the "Company for Propagation of the Gospel in New England and the parts adjacent in America." The Company sponsored missionaries in America until the Revolutionary War at which time its missionary activities were turned to Canada. In 1961 it was still functioning under the name of the "New England Company."

The Company's function was that of a corporation. The revenues from its investments, chiefly in property, were sent to Commissioners in New England who in turn paid the missionaries or dispersed the funds as directed by the Company. The "Commissioners for Indian Affairs," as they were designated, were appointed by the members of the Company, and were usually Boston merchants or New England officials.