Colonial Federal Savings Bank is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in QUINCY, MA. IRS filing data is available from 2022 through 2024. As of 2024, the organization holds $947K in total assets. In 2024, it awarded 1 grants totaling $57K. Net investment income was $273.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$947K
-14.5% YoY
Annual Giving
$57K
+0.9% YoY
Grant Count
1
-97.6% YoY
Avg Grant Size
$57K
+4036.3% YoY
About Colonial Federal Savings Bank
Based on IRS filings
Colonial Federal Savings Bank is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in QUINCY, MA. IRS filing data is available from 2022 through 2024. As of 2024, the organization holds $947K in total assets. In 2024, it awarded 1 grants totaling $57K. Net investment income was $273.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $946,885 | $1,106,900 | $1,317,227 |
| Revenue | $273 | $478 | $1,554,891 |
| Expenses | $61,628 | $61,251 | $63,275 |
| Qualifying Distributions | $61,621 | $61,243 | $63,275 |
| Net Investment Income | $273 | $478 | $561 |
| Distributable Amount | $48,962 | $55,594 | $69,249 |
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
83 grants across all recorded years
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 |
|---|---|---|---|
| Michael McFarland | President/Director | 1 | — |
| Susan Shea | Treasurer/Director | 1 | — |
| Joseph Shadduck | Secretary/Director | 1 | — |
Subject Areas
Focus areas based on grantmaking activity
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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