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
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
No grants recorded for .
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
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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