Eastern Bank Foundation
Eastern Bank Foundation is the philanthropic arm of Eastern Bank and a private foundation based in Wakefield, Massachusetts. It supports organizations and people in Eastern Bank’s market area, which it identifies as Massachusetts, New Hampshire, and Rhode Island, through philanthropy, volunteerism, and advocacy.
Eastern Bank Foundation at a glance
In short: Eastern Bank Foundation gave $19.0M across 1,786 grants in 2025 (avg $11K), mostly in Massachusetts. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $19,024,089
- +29.4% vs 2024
- Grants made (2025)
- 1,786
- +178500.0% vs 2024
- Average grant
- $10,652
- -99.9% vs 2024
- Median grant
- $2,500
- Total assets
- $266,667,184
- +6.8% vs 2024
- Primary geography
- Massachusetts (91% 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 Eastern Bank Foundation
- How to Apply
-
The filing says to complete an online application only. It states that the foundation does not restrict giving to preselected organizations. Awards are generally limited to 501(c)(3) organizations in Eastern Massachusetts, southern New Hampshire, and Rhode Island.
- Review Cycle
- No specific submission deadlines; the filing directs applicants to the application for guidance.
- Deadline
- No specific submission deadlines; the filing directs applicants to the application for guidance.
- Contact
Application contact: Turahn Dorsey President Ceo
Mailing address: 195 Market St Ep 5-01, Lynn, MA 01901
Phone: (781) 598-7595
Website: https://easternbank.com
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Open Grants
4 open opportunities from Eastern Bank Foundation
EBCF: CITC Grants
Eastern Bank Foundation
Amount
Up to US $15,000
Deadline
Deadline not published
EBCF: Community Donations Grant
Eastern Bank Foundation
Amount
US $1,000 - US $10,000
Deadline
Deadline not published
EBCF: Impact Grants
Eastern Bank Foundation
Amount
US $50,000 - US $150,000
Deadline
Deadline not published
Who Eastern Bank Foundation funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was City of Lynn ($2.0M). Together the top 10 received $7.3M.
Organizations only. It also paid 3 grants to individuals ($8,300), which are not listed by name.
Grant Size Distribution
5,669 grants across all recorded years
The most common grant size was under $50K: 5,411 grants of 5,669 (95%).
Geographic Focus
Where this funder awards grants
The foundation identifies Massachusetts, New Hampshire, and Rhode Island as its market area. Its 2025 grant dollars went primarily to Massachusetts recipients (91%), followed by New Hampshire (5%), Rhode Island (2%), New York (1%), and Washington, DC (0%, as reported).
Grant Distribution by State
Share of 2025 grant dollars across all 1,786 itemized grants.
States
Cities
How Eastern Bank Foundation gives
- Giving grew 32% from 2022 to 2025. Method
- In 2025 it paid out 207% of its IRS minimum distribution (the 5% rule). 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 $12.0M (2023) to $21.6M (2020). In 2025 it made 1,786 grants totaling $19.0M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| City of Lynn Lynn, MA | Exempt Purpose | $2,002,500 |
| Massachusetts Housing Partnership Boston, MA | Exempt Purpose | $1,538,000 |
| La Colaborativa Chelsea, MA | Exempt Purpose | $1,005,000 |
| Nectar Community Investments (FKA Lowell Community Loan Fund DBA McCi - FBE Lawrence, MA | Exempt Purpose | $900,000 |
| The Greater Boston Food Bank Boston, MA | Exempt Purpose | $515,000 |
| The Builder Coalition Boston, MA | Exempt Purpose | $301,930 |
| The Boston Foundation - Asian Community Fund Boston, MA | Exempt Purpose | $268,250 |
| University of Massachusetts Lowell Newton, MA | Exempt Purpose | $250,000 |
| YMCA of Greater Nashua Nashua, NH | Exempt Purpose | $250,000 |
| Inquilinos Boricuas En Accin - Iba Boston, MA | Exempt Purpose | $220,000 |
Ready to take the next step with Eastern Bank Foundation?
Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $266,667,184 | $28,804,020 | $24,320,944 | $19,024,089 | 1,786 | $24,643,076 | $17,301,404 | $11,912,752 |
| 2024 | $249,698,317 | $12,733,459 | $19,580,366 | $14,699,750 | 1 | $18,976,973 | $12,028,591 | $11,539,065 |
| 2023 | $224,864,419 | $13,756,626 | $16,617,121 | $12,014,708 | 1,388 | $15,883,966 | $15,013,054 | $10,553,981 |
| 2022 | $232,137,464 | $22,964,256 | $18,614,609 | $14,400,450 | 1,217 | $18,050,637 | $38,194,088 | $12,340,580 |
| 2021 | $286,575,476 | $18,352,628 | $18,440,270 | $15,665,299 | 1,277 | $17,630,941 | $20,759,251 | $13,450,016 |
| 2020 | $251,982,265 | $106,265,961 | $23,266,073 | $21,564,551 | 1,724 | — | $10,644,837 | $7,230,243 |
Under IRS private-foundation payout rules, Eastern Bank Foundation reported a distributable amount of $11.9M 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 approach as combining philanthropy, volunteerism, and advocacy to address systems that have held communities back. Its website identifies advancing equity in the small-business ecosystem, enriching early childhood development, securing safe and affordable housing, and promoting workforce development as strategy areas. Its Impact Grants page also emphasizes economic inclusion and mobility, including support for inclusive small-business ecosystems.
Examples of supported organizations illustrate the range of grantee work. La Colaborativa’s stated mission is to empower Latinx immigrants and improve the social and economic health of their community. The Greater Boston Food Bank describes work acquiring and distributing food through member agencies and direct distribution sites. The Museum of African American History says it connects African American history and culture with current explorations of race and human rights. Housing Assistance Corporation describes a mission to promote safe and affordable housing on Cape Cod and the Islands.
Grantmaking
In 2025, the foundation reported 1,786 grants totaling $19,024,089. Grant amounts ranged from $50 to $2,002,500, with a median of $2,500. Among the largest awards were $2,002,500 to the City of Lynn, $1,538,000 to Massachusetts Housing Partnership, $1,005,000 to La Colaborativa, $900,000 to Nectar Community Investments, and $515,000 to the Greater Boston Food Bank. The filing listed each of these grants’ purposes as “exempt purpose.”
Other 2025 awards included $301,930 to the Builder Coalition, $250,000 to the University of Massachusetts Lowell, $213,000 to the Museum of African American History, and $205,000 to Gregg Neighborhood House. The grantees’ stated missions cover areas including business support, university research administration, African American history and culture, and comprehensive services for families and children.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists these trustees: Deborah C. Jackson, Carol N. Fulp, James E. Canales, Denis K. Sheahan, Robert F. Rivers, James L. Rudolph, Bari A. Harlam, Cathleen A. Schmidt, and Joseph F. Casey.
Eastern Bank Foundation's 2025 filing lists 9 officers; none of the 9 officers listed in 2025 report compensation.
Officers on the 2025 filing
Bari A. Harlam
Trustee
On filings since 2020
1 hr/week
No compensation reported
Carol N. Fulp
Trustee
On filings since 2020
1 hr/week
No compensation reported
Deborah C. Jackson
Trustee
On filings since 2020
1 hr/week
No compensation reported
James E. Canales
Trustee
On filings since 2020
1 hr/week
No compensation reported
James L. Rudolph
Trustee
On filings since 2020
1 hr/week
No compensation reported
Robert F. Rivers
Trustee
On filings since 2020
1 hr/week
No compensation reported
Denis K. Sheahan
Trustee
On filings since 2024
1 hr/week
No compensation reported
Cathleen A. Schmidt
Trustee
New on the 2025 filing
1 hr/week
No compensation reported
Joseph F. Casey
Trustee
New on the 2025 filing
1 hr/week
No compensation reported
Former officers (4)
- Former: Cathy Schmidt (2024)
- Former: Joseph T. Chung (2020–2023) — Trustee
- Former: Greg A. Shell (2020–2021) — Trustee
- Former: Paul D. Spiess (2020) — Trustee
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.
Frequently asked questions about Eastern Bank Foundation
How much does Eastern Bank Foundation give each year?
Eastern Bank Foundation gave $19.0M across 1,786 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $14.7M across 1 grant.
What is Eastern Bank Foundation's typical grant size?
Eastern Bank Foundation's median grant in 2025 was $2,500, and its average grant was $10,652, across 1,786 grants on its 2025 IRS Form 990-PF.
Where does Eastern Bank Foundation give grants?
Eastern Bank Foundation gives mostly in Massachusetts: 91% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest state was New Hampshire (5%). The most frequent recipient cities were Boston, MA (338 grants), Cambridge, MA (43 grants), Manchester, NH (40 grants) and Roxbury, MA (40 grants).
Who are Eastern Bank Foundation's largest grantees?
Eastern Bank Foundation's largest 2025 grantees include City of Lynn ($2,002,500), Massachusetts Housing Partnership ($1,538,000) and La Colaborativa ($1,005,000), according to its 2025 IRS Form 990-PF. It also paid 3 grants to individuals ($8,300), which are not listed by name. Together they received 24% of its itemized 2025 grant dollars.
How large is Eastern Bank Foundation?
Eastern Bank Foundation reported $266.7M in total assets on its 2025 IRS Form 990-PF. It paid out $24.6M in qualifying distributions that year, against a required minimum of $11.9M (roughly 5% of its investment assets).
What does Eastern Bank Foundation fund?
The foundation describes its approach as combining philanthropy, volunteerism, and advocacy to address systems that have held communities back. See mission & focus areas ↑
How do I apply for a grant from Eastern Bank Foundation?
The filing says to complete an online application only. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Eastern Bank Foundation's EIN?
Eastern Bank Foundation's EIN (Employer Identification Number) is 22-3317340. 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
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS April 30, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS May 11, 2022)
- 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 7, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS April 23, 2025)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 8, 2026)
Explore Open Grants
Browse active grant opportunities in Eastern Bank Foundation's focus areas in our free grants database
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Cite this profile
Grantable. (2026). Eastern Bank Foundation funder profile. GrantGraph. Retrieved October 8, 2026, from https://grantable.co/funders/eastern-bank-foundation-morg_32ae6dcb063c4d31baa5c7d329d8b1c1
BibTeX
@misc{grantable_223317340_2026,
author = {{Grantable}},
title = {{Eastern Bank Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/eastern-bank-foundation-morg_32ae6dcb063c4d31baa5c7d329d8b1c1},
note = {Accessed 2026-10-08. 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 Eastern Bank Foundation'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.
Eastern Bank Foundation down — hundreds of funders to go?