Ion Bank Foundation Inc
Ion Bank Foundation Inc is a private foundation based in Naugatuck, Connecticut. Established in 1998 with an initial $2 million contribution from Ion Bank, it supports nonprofit organizations and other eligible applicants working to improve communities it serves.
Ion Bank Foundation Inc at a glance
In short: Ion Bank Foundation Inc gave $1.0M across 419 grants in 2025 (avg $3K), mostly in Connecticut. 20% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $1,049,082
- +5.8% vs 2024
- Grants made (2025)
- 419
- +2.7% vs 2024
- Average grant
- $2,504
- +3.0% vs 2024
- Median grant
- $525
- Total assets
- $15,263,658
- +3.0% vs 2024
- New grantees (estimate)
- 20% first-time grantees (67 of 330, 2025)
- Primary geography
- Connecticut (92% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to Ion Bank Foundation Inc
- How to Apply
-
The Foundation directs applicants to submit applications online through its website and consult its grant guidelines for requirements and restrictions. Sponsorship requests should not be submitted through the grant portal; they may be dropped off at a branch or emailed to the Foundation. The Foundation also operates an annual Community Awards Program in which Ion Bank customers vote for eligible local nonprofits; participating organizations receive $25 per vote, subject to the program’s stated rules.
- Review Cycle
- The published schedule lists Grant Round #2 as accepting applications from April 9 through July 17, 2026, with a meeting in August, and Grant Round #3 as accepting applications from August 13 through October 9, 2026, with a meeting in November. The Foundation states that review and decisions take approximately three weeks after the submission deadline.
- Deadline
- The published schedule lists Grant Round #2 as accepting applications from April 9 through July 17, 2026, with a…
- Contact
Application contact: Kathleen Brochhausen
Mailing address: 251 Church St, Naugatuck, CT 06770
Phone: (888) 891-4219
Email: grants@ionbank.com
Website: https://ionbank.com
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Ion Bank Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was United Way of Naugatuck & Beacon Falls ($105K across 2 grants). Together the top 10 received $414K.
Organizations only. It also paid 17 grants to individuals ($9,500), which are not listed by name.
Grant Size Distribution
1,932 grants across all recorded years
The most common grant size was under $50K: 1,922 grants of 1,932 (99%).
Geographic Focus
Where this funder awards grants
The Foundation’s competitive-grant eligibility area includes three Connecticut regions: the Capital Region, an individual recipient Region, and South Central Region, as listed in its guidelines. In New Jersey, the guidelines include Morris and Passaic Counties. The Foundation’s 2025 grant dollars were concentrated in Connecticut: 92% went to recipients there, 6% to New Jersey, and 1% to New York; reported shares for Washington, D.C., and Massachusetts were each 0%.
Grant Distribution by State
Share of 2025 grant dollars across all 419 itemized grants.
States
Cities
Is Ion Bank Foundation Inc open to new grantees?
20%
first-time grantees, 2025
In 2025, 67 of 330 grantees (20%) were first-time recipients. First grants averaged $2K; repeat grants $3K. How we count
Medians: $1K first-time, $700 repeat.
- 68% of 2025 grantees were also funded in 2024. Method
- Giving held roughly steady from 2022 to 2025 (+7%). Method
- In 2025 it paid out 165% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2025, annual grant giving ranged from $976K (2020) to $1.2M (2023). In 2025 it made 419 grants totaling $1.0M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| United Way of Naugatuck & Beacon Falls Naugatuck, CT | Er Match Uw Campaign | $105,000 |
| United Way of Greater Waterbury Waterbury, CT | Er Match Uw Campaign | $80,000 |
| Connecticut Community Foundation Waterbury, CT | Give Local 2025 | $49,209 |
| Connecticut Community Foundation Waterbury, CT | "Impact Now Fund" | $30,000 |
| Griffin Hospital Derby, CT | "Launch of the Empath ((Emergency Psyc" | $25,000 |
| Waterbury Promise Inc Waterbury, CT | "Scholarship Support" | $25,000 |
| Fair Haven Community Health Clinic Inc New Haven, CT | Building Health, Strengthening Community | $15,000 |
| United Way of Greater Waterbury Waterbury, CT | "Sponsorship" | $15,000 |
| Acts 4 Ministry Waterbury, CT | "New Box Truck with Ion Logo" | $15,000 |
| Montville Township First Aid Squad Inc Montville, NJ | "Purchase of Automated Chest Compression" | $13,000 |
Ready to take the next step with Ion Bank Foundation Inc?
Financial History
Multi-year comparison from IRS filings
The Foundation reports that cumulative grants since its 1998 establishment have exceeded $14 million.
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $15,263,658 | $1,176,316 | $1,285,776 | $1,049,082 | 419 | $1,184,940 | $1,156,726 | $716,836 |
| 2024 | $14,819,407 | $2,797,555 | $1,121,833 | $991,322 | 408 | $1,041,008 | $3,188,472 | $672,753 |
| 2023 | $13,950,608 | $836,609 | $1,324,628 | $1,169,769 | 426 | $1,219,423 | $786,436 | $628,561 |
| 2022 | $12,682,584 | $1,897,788 | $1,085,944 | $980,749 | 350 | $1,017,649 | $1,840,478 | $597,354 |
| 2021 | $14,896,142 | $2,003,640 | $1,123,495 | $979,924 | 329 | $1,016,719 | $1,346,720 | $643,769 |
| 2020 | $12,512,750 | $1,757,790 | $1,066,571 | $975,803 | 336 | — | $1,730,072 | $533,575 |
Under IRS private-foundation payout rules, Ion Bank Foundation Inc reported a distributable amount of $717K for 2025 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
The Foundation’s mission is to support programs and organizations that contribute to the betterment of the communities it serves. Its stated areas of giving include health, education, economic development, human and social services, and the arts.
Examples of 2025 grantees illustrate the range of organizations supported. An individual recipient describes its work as increasing college aspirations and reducing financial barriers to post-secondary education. Fair Haven Community Health Clinic says it provides accessible primary health care to medically underserved people, regardless of ability to pay. Acts 4 Ministry describes supporting people in financial distress through the collection and distribution of reusable goods. The Montville Township First Aid Squad says it provides emergency first aid and ambulance services without charge.
Grantmaking
In filing year 2025, the Foundation reported 419 grants totaling $1,049,082. Individual grants ranged from $100 to $105,000, with a median of $525.
Among the largest reported grants were $105,000 to United Way of Naugatuck & Beacon Falls and $80,000 to United Way of an individual recipient, both for employee-match campaigns; $49,209 to Connecticut Community Foundation for “Give Local 2025”; and $30,000 to Connecticut Community Foundation for the “Impact Now Fund.” Other notable awards included $25,000 to Griffin Hospital for an emergency-psychiatry project and $25,000 to an individual recipient for scholarship support.
Competitive grants support programs and capital needs. The Foundation says it primarily funds direct costs to start or improve a program; indirect or overhead expenses are permitted, but overhead above 10% of the request must be documented in the budget narrative. Applicants may include eligible 501(c)(3) nonprofits, municipal entities seeking grants for public purposes, and religious organizations seeking grants for nonsectarian projects associated with Foundation priorities. Connecticut applicants must have the required state charitable-solicitation registration or an applicable exemption.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists David J. Rotatori as president and chair, Kathleen Brochhausen as executive director, and Dana Silva as senior vice president and secretary. Kalim Jan is listed as senior vice president and treasurer. Other listed directors are Andrew Skipp, Charles J. Boulier III, David Scelba, and Gary O’Connor; Ginger Fennell and Ray Leonzi are also listed as senior vice presidents.
Ion Bank Foundation Inc is led by Kathleen Brochhausen, Executive Director on every filing since 2024; 1 of 14 officers listed in 2025 is compensated.
Officers on the 2025 filing
Kathleen Brochhausen
Executive Director
On filings since 2024
20 hrs/week
$75K (2025)
David J. Rotatori
President & Chair
Director & President → President & CEO, 2022
President & CEO → President & Chair, 2025
On filings since 2020
1 hr/week
No compensation reported
Andrew Skipp
Director
On filings since 2020
No compensation reported
Charles J. Boulier III
Director
On filings since 2020
No compensation reported
Gary O'Connor
Director
On filings since 2020
No compensation reported
Patrick Charmel
Director
On filings since 2020
No compensation reported
William Samuelson
Director
On filings since 2020
No compensation reported
Michelle Stronz
Director
On filings since 2021
No compensation reported
David Scelba
Director
On filings since 2024
No compensation reported
Kathy Taylor
Director
On filings since 2024
No compensation reported
Dana Silva
Senior Vice President & Secretary
Officer → Secretary, 2024
Secretary → Senior Vice President & Secretary, 2025
On filings since 2021
1 hr/week
No compensation reported
Ginger Fennell
Senior Vice President
Officer → Treasurer, 2024
Treasurer → Senior Vice President, 2025
On filings since 2021
No compensation reported
Kalim Jan
Senior Vice President & Treasurer
New on the 2025 filing
No compensation reported
Ray Leonzi
Senior Vice President
New on the 2025 filing
1 hr/week
No compensation reported
Former officers (5)
- Former: Stephen Widman (2020–2024) — Director
- Former: David Nurnberger (2020–2023) — Director
- Former: Kathleen McPadden (2020–2023) — Officer
- Former: Lucille Janatka (2020) — Director
- Former: Mark C. Yanarella (2020) — Director
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.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $75K, to Kathleen Brochhausen (Executive Director).
Frequently asked questions about Ion Bank Foundation Inc
How much does Ion Bank Foundation Inc give each year?
Ion Bank Foundation Inc gave $1.0M across 419 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $991K across 408 grants.
What is Ion Bank Foundation Inc's typical grant size?
Ion Bank Foundation Inc's median grant in 2025 was $525, and its average grant was $2,504, across 419 grants on its 2025 IRS Form 990-PF. Organizations receiving their first grant from Ion Bank Foundation Inc that year got $2K on average.
Where does Ion Bank Foundation Inc give grants?
Ion Bank Foundation Inc gives mostly in Connecticut: 92% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest state was New Jersey (6%). The most frequent recipient cities were Waterbury, CT (63 grants), Naugatuck, CT (52 grants), Meriden, CT (28 grants) and Hartford, CT (26 grants).
Does Ion Bank Foundation Inc give general operating support?
Occasionally: 0% of Ion Bank Foundation Inc's 2025 grants with a stated purpose (2 of 419) were for general or operating support, per its 2025 IRS Form 990-PF. Recurring purposes include "Community Awards Program 25" (241 grants), "Donation" (9 grants) and "Er Match Uw Campaign" (9 grants).
Who are Ion Bank Foundation Inc's largest grantees?
Ion Bank Foundation Inc's largest 2025 grantees include United Way of Naugatuck & Beacon Falls ($105,375 across 2 grants), United Way of Greater Waterbury ($99,100 across 4 grants) and Connecticut Community Foundation ($79,209 across 2 grants), according to its 2025 IRS Form 990-PF. It also paid 17 grants to individuals ($9,500), which are not listed by name. Together they received 27% of its itemized 2025 grant dollars.
How large is Ion Bank Foundation Inc?
Ion Bank Foundation Inc reported $15.3M in total assets on its 2025 IRS Form 990-PF. It paid out $1.2M in qualifying distributions that year, against a required minimum of $717K (roughly 5% of its investment assets).
What does Ion Bank Foundation Inc fund?
The Foundation’s mission is to support programs and organizations that contribute to the betterment of the communities it serves. Its stated areas of giving include health, education, economic development, human and social services, and the arts. See mission & focus areas ↑
How do I apply for a grant from Ion Bank Foundation Inc?
The Foundation directs applicants to submit applications online through its website and consult its grant guidelines for requirements and restrictions. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Ion Bank Foundation Inc's EIN?
Ion Bank Foundation Inc's EIN (Employer Identification Number) is 06-1513293. 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 September 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 May 6, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS May 9, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 8, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS May 9, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS May 16, 2025)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 15, 2026)
Live grants for the work Ion Bank Foundation Inc funds
Philanthropy, Voluntarism & Grantmaking Open opportunities, soonest deadline first.
Explore Open Grants
Browse active grant opportunities in Ion Bank Foundation Inc's focus areas in our free grants database
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Cite this profile
Grantable. (2026). Ion Bank Foundation Inc funder profile. GrantGraph. Retrieved October 17, 2026, from https://grantable.co/funders/ion-bank-foundation-inc-morg_df77a2c908384852a14da330a5f4969f
BibTeX
@misc{grantable_061513293_2026,
author = {{Grantable}},
title = {{Ion Bank Foundation Inc funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/ion-bank-foundation-inc-morg_df77a2c908384852a14da330a5f4969f},
note = {Accessed 2026-10-17. 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 Ion Bank Foundation Inc'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.
Ion Bank Foundation Inc down — hundreds of funders to go?