Colonial Federal Savings Bank
Colonial Federal Savings Bank is a nonprofit organization focused on Philanthropy, Voluntarism & Grantmaking, based in Peabody, MA. IRS filing data is available from 2022 through 2025. In 2025, it awarded 36 grants totaling $924K.
Key facts about Colonial Federal Savings Bank
- EIN
- 87-4406794
- Latest 990 filing
- Form 990-PF, 2025
- Annual giving (2025)
- $923,601
- Grants made (2025)
- 36
- Average grant
- $25,656
- Median grant
- $2,000
- Primary geography
- Massachusetts (88% of itemized 2025 grant dollars)
Data from IRS Form 990-PF, 2025; updated September 2026.
Who Colonial Federal Savings Bank funds
By grant dollars, the top recipient states for Colonial Federal Savings Bank's 36 itemized 2025 grants were Massachusetts (88%) and Virginia (11%). The most frequent recipient cities were Quincy, MA (20 grants), Holbrook, MA (3 grants), Weymouth, MA (2 grants) and Boston, MA (2 grants). None of its 36 grants with a stated purpose were described as general or operating support. Recurring purposes include "Exempt Purpose" (36 grants).
How Colonial Federal Savings Bank gives
- Giving grew 1360% from 2022 to 2025. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Next steps with Colonial Federal Savings Bank
- How to evaluate Colonial Federal Savings Bank as a funder
Our grant prospecting guide: read the 990-PF, check fit, and decide whether to apply.
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Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
—
Annual Giving
$924K
+1517.5% YoY
Grant Count
36
+3500.0% YoY
Avg Grant Size
$26K
-55.1% YoY
About Colonial Federal Savings Bank
Based on IRS filings
Colonial Federal Savings Bank is a nonprofit organization focused on Philanthropy, Voluntarism & Grantmaking, based in Peabody, MA. IRS filing data is available from 2022 through 2025. In 2025, it awarded 36 grants totaling $924K.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of all 36 itemized 2025 grant dollars.
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | — | — | — |
| Revenue | — | — | — |
| Expenses | — | — | — |
| Qualifying Distributions | — | — | — |
| Net Investment Income | — | — | — |
| Distributable Amount | — | — | — |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 11, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS May 30, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS April 18, 2025)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 7, 2026)
- IRS filings on file for fiscal years 2022–2024
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 2025
Grant Size Distribution
119 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2025 grants, the largest recipients include Quincy Community Action Programs ($105,000), Neighborworks Housing Solutions ($102,500), The Salvation Army ($102,500).
| Recipient | Purpose | Amount |
|---|---|---|
| QUINCY COMMUNITY ACTION PROGRAMS Quincy, MA | EXEMPT PURPOSE | $105,000 |
| NEIGHBORWORKS HOUSING SOLUTIONS Quincy, MA | EXEMPT PURPOSE | $102,500 |
| THE SALVATION ARMY Alexadria, VA | EXEMPT PURPOSE | $102,500 |
| ADAMS PRESIDENTIAL CENTER Quincy, MA | EXEMPT PURPOSE | $100,000 |
| GERMANTOWN NEIGHBORHOOD FOOD PANTRY Quincy, MA | EXEMPT PURPOSE | $100,000 |
| HOLBROOK FOOD PANTRY Holbrook, MA | EXEMPT PURPOSE | $100,000 |
| INTERFAITH SOCIAL SERVICES Quincy, MA | EXEMPT PURPOSE | $100,000 |
| WEYMOUTH FOOD PANTRY Weymouth, MA | EXEMPT PURPOSE | $100,000 |
| QUINCY ROTARY FOUNDATION Quincy, MA | EXEMPT PURPOSE | $27,500 |
| THE BOSTON GLOBE FOUNDATION Boston, MA | EXEMPT PURPOSE | $12,500 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
No officer or director reported compensation in the available filings.
From 2025 IRS filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Susan Shea | Treasurer/Director | 1 | — |
| Michael McFarland | President/Director | 1 | — |
| Joseph Shadduck | Secretary/Director | 1 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Colonial Federal Savings Bank?
Colonial Federal Savings Bank is a nonprofit organization focused on Philanthropy, Voluntarism & Grantmaking, based in Peabody, MA. It holds — in total assets as of 2025.
Where does Colonial Federal Savings Bank operate?
Colonial Federal Savings Bank has awarded grants in Georgia, Massachusetts, New Jersey, New York, Virginia.
What size grants does Colonial Federal Savings Bank award?
In 2025, Colonial Federal Savings Bank awarded 36 grants totaling $924K — an average of about $26K per grant, based on its IRS Form 990 filings.
What is Colonial Federal Savings Bank's EIN?
Colonial Federal Savings Bank's EIN (Employer Identification Number) is 87-4406794. IRS Form 990 filing data is available on this page for 2022–2025.
Explore Open Grants
Browse active grant opportunities in Colonial Federal Savings Bank's focus areas in our free grants database
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Data last updated September 2026. Sourced from IRS Form 990-PF filings.