American Savings Foundation Inc
American Savings Foundation Inc. is a private 501(c)(3) grantmaking foundation based in New Britain, Connecticut. Established in 2005, the foundation operates as a philanthropic organization dedicated to supporting youth programs, education, and community development primarily in Connecticut and surrounding regions.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$98.1M
+7.4% YoY
Annual Giving
$3.2M
-3.3% YoY
Grant Count
636
+5.1% YoY
Avg Grant Size
$5K
-8.0% YoY
Under IRS private-foundation payout rules, American Savings Foundation Inc reported a distributable amount of $4.6M for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation's grantmaking focuses on:
- Education — including scholarship programs for undergraduate students
- Youth Programs — after-school programs and youth development initiatives
- Human Services — community-based social services
- Philanthropy and Grantmaking — supporting the nonprofit sector
The foundation directly manages a scholarship program that provides renewable scholarships for up to five years of undergraduate support to students attending 2-year colleges, 4-year colleges, and vocational/technical programs.
Grantmaking
The foundation's scholarship program is directly managed by foundation staff, who provide significant outreach, support, and guidance to applicants and recipients. Since 2021, the foundation has partnered with a third-party provider to offer mental health resources to scholars. The foundation maintains ongoing engagement with scholarship alumni through events, social media, and volunteer opportunities with the scholarship selection committee. The foundation also manages paid summer internship opportunities for scholarship recipients.
Grant Range
s & Types:**
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Geographic Focus
Where this funder awards grants
The foundation primarily funds organizations and individuals in:
- Connecticut
- Massachusetts
- New York
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of 2024:
- Total Assets: $98,115,541
- Total Revenues: $5,216,616
- Total Expenses: $4,496,339
- Number of Employees: 5
Historical Data (2023):
- Total Assets: $91.4 million
- Revenue: $1.77 million
- Expenses: $4.45 million
- Total Liabilities: $0
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $98,115,541 | $91,386,201 | $80,897,730 |
| Revenue | $5,216,616 | $1,767,116 | $22,586,304 |
| Expenses | $4,496,339 | $4,449,928 | $4,757,974 |
| Qualifying Distributions | $4,333,663 | $4,347,658 | $4,339,729 |
| Net Investment Income | $7,807,512 | — | $8,119,458 |
| Distributable Amount | $4,609,945 | $4,256,764 | $4,248,439 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
250 grants across all recorded years
Open Grants
5 open opportunities from American Savings Foundation Inc
American Savings Foundation Scholarships: New Applicants Grant
AMERICAN SAVINGS FOUNDATION INC
Amount
Varies
Deadline
Rolling / Open
American Savings Foundation: Graduate School Scholarships Grant
AMERICAN SAVINGS FOUNDATION INC
Amount
Varies
Deadline
Rolling / Open
ASF Capital Grants
AMERICAN SAVINGS FOUNDATION INC
Amount
Up to US $10,000
Deadline
Rolling / Open
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include City of New Britain ($150,000), Pathwayssenderos Center ($141,100), Friendship Service Center ($80,000).
| Recipient | Purpose | Amount |
|---|---|---|
| BOYS & GIRLS CLUB OF GREATER WATERBURY WATERBURY, CT | CAPITAL GRANTS - CLUB IMPROVEMENTS | $35,000 |
| CAMP COURANT INCORPORATED FARMINGTON, CT | CAPITAL GRANTS - CAMP COURANT EQUIPMENT UPDATES | $4,000 |
| GILEAD COMMUNITY SERVICES MIDDLETOWN, CT | CAPITAL GRANTS - KITCHEN UPDATE | $50,000 |
| NEW BRITAIN EMERGENCY MEDICAL SERVICES NEW BRITAIN, CT | CAPITAL GRANTS - MEDICAL EQUIPMENT PURCHASE | $25,000 |
| PATHWAYSSENDEROS CENTER NEW BRITAIN, CT | CAPITAL GRANTS - PATHWAYS/SENDEROS CAPITAL PROJECT | $9,807 |
| SAFE HAVEN OF GREATER WATERBURY WATERBURY, CT | CAPITAL GRANTS - PORCH IMPROVEMENTS | $65,000 |
| THE MERIDEN-NEW BRITAIN-BERLIN YMCA MERIDEN, CT | CAPITAL GRANTS - GYM RENOVATIONS - NB YMCA | $58,600 |
| AFRO CARIBBEAN CULTURAL CENTER INC WATERBURY, CT | PROGRAM GRANT - CUYO SUMMER PROGRAM 2024 | $5,000 |
| BIG BROTHERS BIG SISTERS OF CONNECTICUT HARTFORD, CT | PROGRAM GRANT - COMMUNITY-BASED MENTORING 2024-25 | $20,000 |
| BOYS & GIRLS CLUB OF GREATER WATERBURY WATERBURY, CT | PROGRAM GRANT - TEEN PROGRAM 2024-25 | $45,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| CHARLES J BOULIER III | DIRECTOR, CHAIR | 4 | — |
| LAURENCE A TANNER | DIRECTOR, VICE CHAIR | 3 | — |
| SHERI C PASQUALONI | DIRECTOR, SECRETARY | 3 | — |
| DAVID DAVISON | DIRECTOR, TREASURER | 3 | — |
| CAITLYN BEE | DIRECTOR, ASSISTANT SECRETARY | 2 | — |
| PAULA GILBERTO | DIRECTOR, ASSISTANT TREASURER | 2 | — |
| MICHAEL CARRIER | DIRECTOR | 2 | — |
| JAMES JONES | DIRECTOR | 2 | — |
| MELVIN J KELLEY IV | DIRECTOR (BEGAN 6/20/2024) | 2 | — |
| JOHN MILLER | DIRECTOR | 2 | — |
| LOAN NGUYEN | DIRECTOR | 2 | — |
| BRUCE NOE | DIRECTOR | 2 | — |
| JAMES O'ROURKE | DIRECTOR (BEGAN 6/20/2024) | 2 | — |
| CHRISTOPHER PORCHER | DIRECTOR (BEGAN 6/20/2024) | 2 | — |
| JOYCED RIBEIRO | DIRECTOR (BEGAN 6/20/2024) | 2 | — |
| ARTILA TASHO | DIRECTOR | 2 | — |
| MARIA A FALVO | PRESIDENT AND CEO | 40 | $254,100 |
Recent News & Activity
Recent developments and announcements
The foundation has announced multiple rounds of community grant awards in recent years, including:
American Savings Foundation announces first round of 2024 Community GrantFirst round of 2024 Community Grant Awards
American Savings Foundation announces first round of 2024 Community GrantFall 2025 Community Grants totaling $105,500
American Savings Foundation Awards $105,500 through Community Grants ::Grant to Boys & Girls Club for the purchase of new vans
American Savings Foundation Awards Grant to Boys & Girls Club to PurchaseOngoing Community Grants program announcements
American Savings Foundation Awards $105,500 through Community Grants ::The foundation maintains active engagement with the community through regular grant announcements and funding cycles.
American Savings Foundation announces first round of 2024 Community GrantSubject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does American Savings Foundation Inc fund?
The foundation's grantmaking focuses on: • **Education** — including scholarship programs for undergraduate students • **Youth Programs** — after-school programs and youth development initiatives • **Human Services** — community-based social services • **Philanthropy and Grantmaking** — supporting the nonprofit sector The foundation directly manages a scholarship program that provides renewable scholarships for up to five years of undergraduate support to students attending 2-year colleges, 4-y…
How do I apply for a grant from American Savings Foundation Inc?
**Grant Sizes & Types:** • Typical awards range from $100,000 to $200,000 • The foundation made 632 grants in 2024 • Scholarship program distributed $762,070 across 467 individual students in 2024 **Active Grant Programs:** • Graduate School Scholarships • Scholarships for New Applicants • After School Grants • Capital Grants • Community Grants • Program Grants **Scholarship Program Details:** The foundation's scholarship program is directly managed by foundation staff, who provide significant …
Where does American Savings Foundation Inc make grants?
The foundation primarily funds organizations and individuals in: • Connecticut • Massachusetts • New York
What size grants does American Savings Foundation Inc award?
In 2024, American Savings Foundation Inc awarded 636 grants totaling $3.2M — an average of about $5K per grant, based on its IRS Form 990 filings.
How much is American Savings Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, American Savings Foundation Inc reported a distributable amount of $4.6M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is American Savings Foundation Inc's EIN?
American Savings Foundation Inc's EIN (Employer Identification Number) is 30-0308972. IRS Form 990 filing data is available on this page for 2020–2024.
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Browse active grant opportunities in American Savings Foundation Inc's focus areas in our free grants database
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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