American Savings Foundation Inc
American Savings Foundation Inc. is a private foundation based in New Britain, Connecticut. Established by American Savings Bank in 1995 and independent since 2003, it supports Connecticut communities through grants to organizations and scholarships for students, with a core focus on New Britain and Waterbury.
American Savings Foundation Inc at a glance
In short: American Savings Foundation Inc gave $3.4M across 613 grants in 2025 (avg $5K), mostly in Connecticut. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $3,365,284
- +4.6% vs 2024
- Grants made (2025)
- 613
- -3.6% vs 2024
- Average grant
- $5,490
- +8.6% vs 2024
- Median grant
- $1,750
- Total assets
- $107,026,808
- +9.1% vs 2024
- Primary geography
- Connecticut (93% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026.
How to apply to American Savings Foundation Inc
- How to Apply
-
The website provides separate application routes for Program, After School, Community, and Capital Grants. Program Grant applicants should apply through the appropriate program application; Community Grant requests are subject to the eligibility and application guidance described above. The foundation considers requests year by year, and renewed funding is not automatic. It does not provide unrestricted general operating grants and is not typically able to be the sole funder of a Program Grant; it looks for evidence of broad local support and other committed or pending funding sources. The 2025 filing directs applicants to a general explanation attachment for application materials, deadlines, and award restrictions.
- Contact
Application contact: American Savings Foundation
Mailing address: One Liberty Square 1St Floor, New Britain, CT 06051-2637
Phone: (860) 827-2556
Website: https://www.asfdn.org
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Open Grants
5 open opportunities from American Savings Foundation Inc
American Savings Foundation Scholarships: New Applicants Grant
American Savings Foundation Inc
Amount
Varies
Deadline
Deadline not published
American Savings Foundation: Graduate School Scholarships Grant
American Savings Foundation Inc
Amount
Varies
Deadline
Deadline not published
ASF Capital Grants
American Savings Foundation Inc
Amount
Up to US $10,000
Deadline
Deadline not published
Who American Savings Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Friendship Service Center ($200K across 3 grants). Together the top 10 received $1.3M.
Organizations only. It also paid 172 individual scholarships ($240,421), which are not listed by name.
Grant Size Distribution
3,019 grants across all recorded years
The most common grant size was under $50K: 2,935 grants of 3,019 (97%).
Geographic Focus
Where this funder awards grants
The foundation serves 64 towns in Connecticut, with a core focus on New Britain and Waterbury. In 2025, 93% of grant dollars went to recipients in Connecticut; Massachusetts and an individual recipient each received 2%. The filing also lists an individual recipient and the District of Columbia, each at 0% when rounded.
Grant Distribution by State
Share of 2025 grant dollars across all 613 itemized grants.
States
Cities
How American Savings Foundation Inc gives
- Giving held roughly steady from 2022 to 2025 (+0%). Method
- In 2025 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.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2025, annual grant giving ranged from $3.1M (2020) to $3.4M (2025). In 2025 it made 613 grants totaling $3.4M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| City of New Britain New Britain, CT | Program Grants - Exercise the Right Choice 2025-26 | $150,000 |
| Connecticut Junior Republic Association Litchfield, CT | Capital Grants - Fire Alarm System Replacement | $125,000 |
| Pathwayssenderos Center New Britain, CT | Program Grants - 2025 Summer Youth Employment Program | $115,360 |
| Friendship Service Center New Britain, CT | Capital grants - housing capital improvements - replacement windows | $100,000 |
| Friendship Service Center New Britain, CT | Program Grants - Hope Connection Center 2025-26 | $80,000 |
| Opportunities Industrialization Center of New Britain New Britain, CT | Program Grants - Moving Mountains Sullivan Academy 2025-26 | $75,000 |
| Boys & Girls Club of New Britain New Britain, CT | Program Grants - G.A.A.S. 2025-2026 | $70,000 |
| Children's Law Center of Connecticut Hartford, CT | Program Grants - Legal Representation Program 2025 | $70,000 |
| Human Resources Agency of New Britain New Britain, CT | Program Grants - Food Resource Center 2025-26 | $70,000 |
| YWCA of New Britain New Britain, CT | Program Grants - Strive Program 2025-26 | $70,000 |
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Financial History
Multi-year comparison from IRS filings
The foundation’s 2025 filing also reports $772,839 in scholarships for 455 individual students and $90,870 in grants to local nonprofits for paid internship opportunities. Its website lists endowment assets of $105 million at year-end 2025.
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $107,026,808 | $5,503,063 | $4,863,270 | $3,365,284 | 613 | $4,620,334 | $11,504,956 | $4,895,546 |
| 2024 | $98,115,541 | $5,216,616 | $4,496,339 | $3,215,866 | 636 | $4,333,663 | $7,807,512 | $4,609,945 |
| 2023 | $91,386,201 | $1,767,116 | $4,449,928 | $3,324,071 | 605 | $4,347,658 | — | $4,256,764 |
| 2022 | $80,897,730 | $22,586,304 | $4,757,974 | $3,358,772 | 574 | $4,339,729 | $8,119,458 | $4,248,439 |
| 2021 | $106,060,651 | $6,134,439 | $4,423,542 | $3,326,359 | 591 | $4,208,568 | $9,331,359 | $4,870,615 |
| 2020 | $95,990,212 | $4,046,858 | $4,227,224 | $3,123,392 | 632 | — | $5,196,996 | $4,155,210 |
Under IRS private-foundation payout rules, American Savings Foundation Inc reported a distributable amount of $4.9M for 2025 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated October 2026.
Mission & Focus Areas
The foundation describes its purpose as strengthening communities by supporting education, human services, and the arts, with special emphasis on children, youth, and families. It funds direct-service programs intended to make a measurable impact, including established programs and new initiatives addressing unmet community needs. Its website also describes support for after-school programs and capital projects.
Examples from the 2025 grants illustrate the range of organizations and services it supports. Connecticut Junior Republic says its mission is to provide therapeutic treatment, education, and support for young people and their families. Friendship Service Center describes its work as providing compassionate, person-centered services for people at risk of or experiencing homelessness. The Opportunities Industrialization Center of New Britain says it provides employment and training, while the Human Resources Agency of New Britain describes work addressing poverty and strengthening individuals, families, and communities.
The foundation also operates a scholarship program. Its 2025 filing reports scholarships for students attending two- and four-year colleges and vocational or technical programs.
Grantmaking
In filing year 2025, the foundation reported 613 grants totaling $3,365,284. Grant amounts ranged from $238 to $150,000, with a median of $1,750. Its largest reported awards included $150,000 to the City of New Britain for the Exercise the Right Choice program; $125,000 to Connecticut Junior Republic Association for fire alarm system replacement; and $115,360 to Pathways/Senderos Center for a summer youth employment program.
Other notable 2025 awards included $100,000 to Friendship Service Center for housing capital improvements and $80,000 to the same organization for its Hope Connection Center; $75,000 to Opportunities Industrialization Center of New Britain for Moving Mountains Sullivan Academy; and $70,000 each to Boys & Girls Club of New Britain, Children’s Law Center of Connecticut, Human Resources Agency of New Britain, and YWCA of New Britain for program support.
The foundation’s website describes Program Grants, After School Grants, Community Grants, and Capital Grants. Program Grants support direct services, with a primary focus on New Britain and Waterbury. Community Grants offer requests of up to $5,000 for eligible programs in the foundation’s 64-town service area. Organizations must generally be tax-exempt under section 501(c)(3); the Community Grants program also permits public libraries. The website directs smaller nonprofits and local programs outside New Britain and Waterbury to the Community Grant application. It specifies that Community Grant requests are for program expenses, not computers or other capital purchases, though limited requests for essential capital equipment may be considered separately after contacting the foundation for guidance.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Charles J. Boulier III as director and chair; Laurence A. Tanner as vice chair; Sheri C. Pasqualoni as secretary; David Davison as treasurer; Caitlyn Bee as assistant secretary; Paula Gilberto as assistant treasurer; and Michael Carrier, James Jones, Melvin J. Kelley IV, and John Miller as directors. The foundation’s website identifies Maria A. Falvo as president and CEO.
American Savings Foundation Inc is led by Maria A. Falvo, President & CEO on every filing since 2020; 1 of 17 officers listed in 2025 is compensated.
Officers on the 2025 filing
Maria A. Falvo
President & CEO
On filings since 2020
40 hrs/week
$215K (2020) → $265K (2025)
Charles J. Boulier III
Director & Chair
On filings since 2020
4 hrs/week
No compensation reported
David Davison
Director & Treasurer
Director → Director, Treasurer & Former President, 2021
Director, Treasurer & Former President → Director & Treasurer, 2022
On filings since 2020
3 hrs/week
$128K (2021) → $0 (2025)
James Jones
Director
On filings since 2020
2 hrs/week
No compensation reported
James O'Rourke
Director
On filings since 2020
2 hrs/week
No compensation reported
Laurence A. Tanner
Director & Vice Chair
Director & Treasurer → Director & Vice Chair, 2021
On filings since 2020
3 hrs/week
No compensation reported
Loan Nguyen
Director
On filings since 2020
2 hrs/week
No compensation reported
Michael Carrier
Director
On filings since 2020
2 hrs/week
No compensation reported
Sheri C. Pasqualoni
Director & Secretary
On filings since 2020
3 hrs/week
No compensation reported
John Miller
Director
On filings since 2021
2 hrs/week
No compensation reported
Bruce Noe
Director
On filings since 2022
2 hrs/week
No compensation reported
Caitlyn Bee
Director & Assistant Secretary
On filings since 2022
2 hrs/week
No compensation reported
Paula Gilberto
Director & Assistant Treasurer
Director → Director & Assistant Treasurer, 2023
On filings since 2022
2 hrs/week
No compensation reported
Artila Tasho
Director
On filings since 2024
2 hrs/week
No compensation reported
Christopher Porcher
Director
On filings since 2024
2 hrs/week
No compensation reported
Joyced Ribeiro
Director
On filings since 2024
2 hrs/week
No compensation reported
Melvin J. Kelley IV
Director
On filings since 2024
2 hrs/week
No compensation reported
Former officers (7)
- Former: Carl R. Cicchetti (2020–2023) — Director
- Former: James W. Little (2020–2023) — Director
- Former: Artila Lubonja (2022–2023) — Director
- Former: Caitlyn Prescott (2020–2021) — Director & Assistant Secretary
- Former: Harry N. Mazadoorian (2020–2021) — Director
- Former: James McNair (2020–2021) — Director
- Former: Marie S. Gustin (2020–2021) — Director
Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $265K, to Maria a Falvo (President and CEO).
Frequently asked questions about American Savings Foundation Inc
How much does American Savings Foundation Inc give each year?
American Savings Foundation Inc gave $3.4M across 613 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $3.2M across 636 grants.
What is American Savings Foundation Inc's typical grant size?
American Savings Foundation Inc's median grant in 2025 was $1,750, and its average grant was $5,490, across 613 grants on its 2025 IRS Form 990-PF.
Where does American Savings Foundation Inc give grants?
American Savings Foundation Inc gives mostly in Connecticut: 93% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Storrs, CT (143 grants), New Britain, CT (47 grants), West Hartford, CT (37 grants) and Waterbury, CT (26 grants).
Does American Savings Foundation Inc give general operating support?
Not in 2025: none of the 613 grants with a stated purpose on American Savings Foundation Inc's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Scholarship Program - Scholarship" (474 grants).
Who are American Savings Foundation Inc's largest grantees?
American Savings Foundation Inc's largest 2025 grantees include Friendship Service Center ($200,000 across 3 grants), Human Resources Agency of New Britain ($176,500 across 3 grants) and Connecticut Junior Republic Association ($150,000 across 2 grants), according to its 2025 IRS Form 990-PF. It also paid 172 individual scholarships ($240,421), which are not listed by name. Together they received 16% of its itemized 2025 grant dollars.
How large is American Savings Foundation Inc?
American Savings Foundation Inc reported $107.0M in total assets on its 2025 IRS Form 990-PF. It paid out $4.6M in qualifying distributions that year, against a required minimum of $4.9M (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
What does American Savings Foundation Inc fund?
The foundation describes its purpose as strengthening communities by supporting education, human services, and the arts, with special emphasis on children, youth, and families. See mission & focus areas ↑
How do I apply for a grant from American Savings Foundation Inc?
The website provides separate application routes for Program, After School, Community, and Capital Grants. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
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 2020–2025.
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated October 2026.
Data update history
(2)
When this profile's IRS filing data changed on Grantable
- Added Form 990-PF for fiscal year 2025 (received by the IRS June 19, 2026)
- IRS filings on file for fiscal years 2020–2024
Live grants for the work American Savings Foundation Inc funds
Philanthropy, Voluntarism & Grantmaking Open opportunities, soonest deadline first.
Explore Open Grants
Browse active grant opportunities in American Savings Foundation Inc's focus areas in our free grants database
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Cite this profile
Grantable. (2026). American Savings Foundation Inc funder profile. GrantGraph. Retrieved October 17, 2026, from https://grantable.co/funders/american-savings-foundation-inc-morg_0dcc6ab8f34f49229ea7f450d9a4f986
BibTeX
@misc{grantable_300308972_2026,
author = {{Grantable}},
title = {{American Savings Foundation Inc funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/american-savings-foundation-inc-morg_0dcc6ab8f34f49229ea7f450d9a4f986},
note = {Accessed 2026-10-17. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from American Savings Foundation Inc's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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