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.
Key facts about American Savings Foundation Inc
- EIN
- 30-0308972
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $3,215,866
- Grants made (2024)
- 636
- Average grant
- $5,056
- Median grant
- $1,750
- Total assets
- $98,115,541
- Primary geography
- Connecticut (92% of itemized 2024 grant dollars)
Data from IRS Form 990-PF, 2024; updated September 2026.
Who American Savings Foundation Inc funds
By grant dollars, the top recipient states for American Savings Foundation Inc's 636 itemized 2024 grants were Connecticut (92%). The most frequent recipient cities were Storrs, CT (151 grants), New Britain, CT (124 grants), West Hartford, CT (47 grants) and Waterbury, CT (32 grants). None of its 636 grants with a stated purpose were described as general or operating support. Recurring purposes include "Scholarship Program - Scholarship" (482 grants) and "Discretionary Grants - 2024 Loa Award" (3 grants).
How American Savings Foundation Inc gives
- Giving held roughly steady from 2021 to 2024 (−3%). Method
- In 2024 it paid out 94% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Next steps with American Savings Foundation Inc
- How to evaluate American Savings Foundation Inc as a funder
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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
Share of all 636 itemized 2024 grant dollars.
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 |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
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
3,038 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 recipients include Pathwayssenderos Center ($175,907 across 3 grants), Human Resources Agency of New Britain ($171,500 across 3 grants), City of New Britain ($153,500 across 3 grants).
| Recipient | Purpose | Amount |
|---|---|---|
| CITY OF NEW BRITAIN New Britain, CT | PROGRAM GRANT - EXERCISE THE RIGHT CHOICE PROGRAM 2024-25 | $150,000 |
| PATHWAYSSENDEROS CENTER New Britain, CT | PROGRAM GRANT - 2024 SUMMER YOUTH EMPLOYMENT PROGRAM | $141,100 |
| FRIENDSHIP SERVICE CENTER New Britain, CT | PROGRAM GRANT - HOPE CONNECTION CENTER 2024-25 | $80,000 |
| OPPORTUNITIES INDUSTRIALIZATION CENTER OF NEW BRITAIN New Britain, CT | PROGRAM GRANT - MOVING MOUNTAINS-SULLIVAN ACADEMY 2024-25 | $75,000 |
| BOYS & GIRLS CLUB OF NEW BRITAIN New Britain, CT | PROGRAM GRANT - G.A.A.S. 2024-2025 | $70,000 |
| CHILDREN'S LAW CENTER OF CONNECTICUT Hartford, CT | PROGRAM GRANT - LEGAL REPRESENTATION PROGRAM 2024 | $70,000 |
| YWCA OF NEW BRITAIN New Britain, CT | PROGRAM GRANT - STRIVE PROGRAM 2024-25 | $70,000 |
| SAFE HAVEN OF GREATER WATERBURY Waterbury, CT | CAPITAL GRANTS - PORCH IMPROVEMENTS | $65,000 |
| HUMAN RESOURCES AGENCY OF NEW BRITAIN New Britain, CT | PROGRAM GRANT - FOOD RESOURCE CENTER 2024-25 | $65,000 |
| CONNECTICUT FOODSHARE Wallingford, CT | PROGRAM GRANT - NEW BRITAIN FOOD DISTRIBUTION 2024-25 | $60,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 IRS 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 September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.