Centreville Savings Bank Charitable
The Centreville Savings Bank Charitable Foundation is a corporate foundation established in 2008 by the Board of Trustees of Centreville Bank to further the bank's philanthropic mission. Based in West Warwick, Rhode Island, the Foundation maintains assets of approximately $25.9 million and serves as the primary vehicle for the bank's charitable giving activities. The Foundation has distributed over $10 million in total charitable giving since its inception.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$25.9M
+4.1% YoY
Annual Giving
$1.6M
+27.9% YoY
Grant Count
1
-99.0% YoY
Avg Grant Size
$1.6M
+12176.8% YoY
Under IRS private-foundation payout rules, Centreville Savings Bank Charitable reported a distributable amount of $1.2M for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The Foundation's mission is to support local community-based organizations tackling significant challenges and meeting the needs of underserved populations. Primary funding priorities include:
- Education success
- Economic security
- Capacity building for nonprofit organizations
- Human services
Grantmaking
The Foundation awards grants three times per year during the following application windows:
Grant Range
** $2,000 - $100,000
Review Cycle
s (approximately 2 months)
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Geographic Focus
Where this funder awards grants
The Foundation funds organizations located in:
- Rhode Island
- New London County, Connecticut
- Windham County, Connecticut
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Assets & Revenue (2024)
- Total Assets: $25,852,852
- Total Revenues: $1,530,127
- Total Expenses: $1,766,444
- Total Giving: $1,631,040
Revenue Breakdown (2024)
- Investment income and dividends: $610,082
- Net gain from sale of non-inventory assets: $916,669
- Miscellaneous revenues: $3,376
Year-over-Year Growth
Total revenues increased 54.8% from 2023 ($988,732) to 2024 ($1,530,127).
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $25,852,852 | $24,836,567 | $22,900,307 |
| Revenue | $1,530,127 | $988,732 | $1,210,278 |
| Expenses | $1,766,444 | $1,401,403 | $1,158,426 |
| Qualifying Distributions | $1,634,040 | $1,278,360 | $1,106,761 |
| Net Investment Income | $1,412,596 | $869,583 | $1,194,796 |
| Distributable Amount | $1,236,627 | $1,144,081 | $1,185,204 |
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
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Grants & Contributions Paid ($1,631,040).
| Recipient | Purpose | Amount |
|---|---|---|
| Grants & Contributions Paid West Warwick, RI | Exempt Purpose | $1,631,040 |
Leadership & Key People
Leadership team and compensation from IRS filings
- Harold Horvat – President and Chief Executive Officer / Director
- Jillian Deshiro – Chief Financial Officer
- Jason Kulak – Director and Controller
All leadership positions are held on a voluntary basis without compensation.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Harold Horvat | President/CEO | 1 | — |
| Robert Jason Kulak | director/Controller | 1 | — |
| Jocelyn Nacci | director | 1 | — |
| Mark Noble | director | 1 | — |
| Jhonny Leyva | director | 1 | — |
| eve veliz moran | director | 1 | — |
| Hanna Stangl | Secretary | 1 | — |
| John Miller | Director | 1 | — |
Recent News & Activity
Recent developments and announcements
The Foundation has demonstrated significant community engagement and growth:
In 2024, the Foundation invested nearly $1.8 million and contributed over 6,000 volunteer hours to the communities it serves
The Foundation has been recognized for its strategic approach to addressing systemic issues through focused investments
The Foundation surpassed $2 million in community giving in 2025
Centreville Bank surpasses $2M in community giving in 2025The Foundation celebrated reaching a $10 million giving milestone with new grants
Centreville Bank celebrates $10M giving milestone with new grantsSubject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Centreville Savings Bank Charitable fund?
The Foundation's mission is to support local community-based organizations tackling significant challenges and meeting the needs of underserved populations. Primary funding priorities include: • Education success • Economic security • Capacity building for nonprofit organizations • Human services
How do I apply for a grant from Centreville Savings Bank Charitable?
The Foundation awards grants three times per year during the following application windows: • December 15 - January 16 • March 15 - April 15 • September 15 - October 15 • **Grant Range:** $2,000 - $100,000 • **Average Annual Giving:** $1.6 million (2024) • **Number of Grants:** 64 grants awarded in 2024 • **Decision Timeline:** Quarterly review cycles (approximately 2 months) • Organizations must have IRS 501(c)(3) tax-exempt status • Funding must support communities located in the Centreville …
Where does Centreville Savings Bank Charitable make grants?
The Foundation funds organizations located in: • Rhode Island • New London County, Connecticut • Windham County, Connecticut
What size grants does Centreville Savings Bank Charitable award?
In 2024, Centreville Savings Bank Charitable awarded 1 grants totaling $1.6M — an average of about $1.6M per grant, based on its IRS Form 990 filings.
How much is Centreville Savings Bank Charitable required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Centreville Savings Bank Charitable reported a distributable amount of $1.2M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Centreville Savings Bank Charitable's EIN?
Centreville Savings Bank Charitable's EIN (Employer Identification Number) is 51-0673508. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Centreville Savings Bank 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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