Cambridge Savings Charitable
Cambridge Savings Charitable Foundation Inc is a private foundation established in 2003 and based in Cambridge, Massachusetts. The foundation is organized to support human services, affordable housing, and community development. It is a company-sponsored foundation affiliated with Cambridge Savings Bank.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$1.3M
-17.1% YoY
Annual Giving
$1.9M
-28.9% YoY
Grant Count
1
-99.6% YoY
Avg Grant Size
$1.9M
+16598.1% YoY
Under IRS private-foundation payout rules, Cambridge Savings Charitable reported a distributable amount of $77K for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation's mission is to improve and enrich the lives of under-resourced neighbors served by Cambridge Savings Bank across four counties: Middlesex, Suffolk, Essex, and Norfolk.
Primary funding areas include:
- Affordable housing, shelters, and transitional housing
- Food insecurity
- Arts and culture
- Education
- Health
- Housing and community development
- Human services
- Youth and recreation
- College scholarships for graduating high school seniors
Grantmaking
Cambridge Savings Bank and the Cambridge Savings Charitable Foundation have implemented web-based applications for nonprofit organizations to request charitable donations, including grants, sponsorships, and in-kind donations. All requests must be submitted via the online Grant Application. Questions about the application process can be directed to communityrelations@cambridgesavings.com.
How to Apply
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Geographic Focus
Where this funder awards grants
The foundation serves four counties: Middlesex, Suffolk, Essex, and Norfolk in Massachusetts.
The foundation awards college scholarships to graduating high school seniors from the following municipalities: Acton, Arlington, Bedford, Belmont, Burlington, Cambridge, Concord, Lexington, Lincoln, Medford, Newton, Somerville, Waltham, Watertown, Winchester, and Woburn.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of 2023:
- Total assets: $1,565,166
- Total revenues: -$656,672
- Total expenses: $3,098,006
- Total grants made: $4,360,000
Recent asset figures:
- Total assets: $1,297,965 (per 2024 filing)
- Total giving: $1,920,493
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $1,297,965 | $1,565,166 | $5,546,818 |
| Revenue | $1,508,208 | $-656,672 | $4,036,746 |
| Expenses | $2,024,966 | $3,098,006 | $2,359,497 |
| Qualifying Distributions | $1,968,318 | $2,740,156 | $2,326,497 |
| Net Investment Income | $389,171 | $121,702 | $1,023,317 |
| Distributable Amount | $77,477 | $84,871 | $145,851 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 1 recipients in 2024
Grant Size Distribution
201 grants across all recorded years
Open Grants
2 open opportunities from Cambridge Savings Charitable
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Grants & Contributions Paid ($1,920,493).
| Recipient | Purpose | Amount |
|---|---|---|
| Grants & Contributions Paid Cambridge, MA | Exempt Purpose | $1,920,493 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| ANNE ADAMS CUSHMAN | DIRECTOR | 1 | $10,000 |
| ROBERT P REARDON | DIRECTOR | 1 | $10,000 |
| ROBERT RAMSEY | DIRECTOR | 1 | $10,000 |
| ROBERT M WILSON | DIRECTOR | 1 | $10,000 |
| RYAN A BAILEY | PRESIDENT/DIRECTOR/CHAIRMAN | 1 | — |
| STEPHEN J COUKOS | CLERK | 1 | — |
| PETER F FOLAN | DIRECTOR (AS OF 9/25/2024) | 1 | $4,000 |
| Daniel J Carey | TREASURER | 1 | — |
Recent News & Activity
Recent developments and announcements
In 2023, Cambridge Savings Bank and Franklin Cummings Tech launched a scholarship fund to remove barriers for students facing financial hardships.
Cambridge Savings Bank and Franklin Cummings Tech Launch Scholarship FundCambridge Savings Bank gifted $25,000 to Chesterbrook Community Foundation to empower local youth.
Cambridge Savings Bank and Franklin Cummings Tech Launch Scholarship FundSubject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Cambridge Savings Charitable fund?
The foundation's mission is to improve and enrich the lives of under-resourced neighbors served by Cambridge Savings Bank across four counties: Middlesex, Suffolk, Essex, and Norfolk. Primary funding areas include: • Affordable housing, shelters, and transitional housing • Food insecurity • Arts and culture • Education • Health • Housing and community development • Human services • Youth and recreation • College scholarships for graduating high school seniors
How do I apply for a grant from Cambridge Savings Charitable?
**Grant Amounts & Activity:** • Maximum grant award: up to $5,000 per nonprofit per calendar year • The foundation made 236 grants totaling $4,360,000 in 2023 • Since 2003, the foundation has awarded over $17.5 million in grants **Eligibility Requirements:** • Must be a 501(c)(3) nonprofit organization • Must serve low-to-moderate income residents in Middlesex, Suffolk, Essex, or Norfolk counties • Requests must be program or project specific • Typically makes up to one donation or sponsorship …
Where does Cambridge Savings Charitable make grants?
The foundation serves four counties: Middlesex, Suffolk, Essex, and Norfolk in Massachusetts. The foundation awards college scholarships to graduating high school seniors from the following municipalities: Acton, Arlington, Bedford, Belmont, Burlington, Cambridge, Concord, Lexington, Lincoln, Medford, Newton, Somerville, Waltham, Watertown, Winchester, and Woburn.
What size grants does Cambridge Savings Charitable award?
In 2024, Cambridge Savings Charitable awarded 1 grants totaling $1.9M — an average of about $1.9M per grant, based on its IRS Form 990 filings.
How much is Cambridge Savings Charitable required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Cambridge Savings Charitable reported a distributable amount of $77K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Cambridge Savings Charitable's EIN?
Cambridge Savings Charitable's EIN (Employer Identification Number) is 48-1307731. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Cambridge Savings Charitable'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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