Sbm Charitable Foundation Inc
The SBM Charitable Foundation, Inc. is a private foundation established in 2000 by Connecticut Bancshares, Inc., the parent company of the former Savings Bank of Manchester. Originally structured as a company-sponsored foundation, it transitioned to independent foundation status in 2004. The foundation is located in Manchester, Connecticut and operates with a mission to improve quality of life in its service region.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$38.0M
+7.1% YoY
Annual Giving
$1.5M
-8.8% YoY
Grant Count
83
-15.3% YoY
Avg Grant Size
$18K
+7.7% YoY
Under IRS private-foundation payout rules, Sbm Charitable Foundation Inc reported a distributable amount of $1.8M for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The SBM Charitable Foundation is committed to bettering the lives of those who live and work predominantly East of the River in Hartford, Tolland, and Windham Counties. The foundation's giving priorities are:
- Health Programs — Direct services to the community, including hospitals, community health programs, prevention programs, and intervention services
- Human Services — Broad-based projects that enhance and improve quality of personal life for residents
- Education — Programs that help people achieve their goals through education, including adult literacy and reading readiness programs
- Housing — Programs supporting housing initiatives in service communities
- The Arts — Arts and culture organizations
Grantmaking
The foundation accepts online pre-applications for grants from organizations that have not received funding within the past two years. Organizations that have received funding within the past two years may submit formal "Request for Grant" applications.
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Geographic Focus
Where this funder awards grants
The foundation serves Hartford County (East of River), Tolland County, and Windham County in Connecticut. Grant funding is restricted to organizations serving these regions, and scholarship recipients must be permanent residents of these counties.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
As of 2024:
- Total Assets: $38,028,079
- Total Revenues: $2,625,268
- Total Expenses: $1,925,417
- Total Giving: $1,473,393
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $38,028,079 | $35,513,772 | $32,205,752 |
| Revenue | $2,625,268 | $1,353,846 | $727,208 |
| Expenses | $1,925,417 | $2,133,993 | $2,182,001 |
| Qualifying Distributions | $1,854,787 | $2,019,359 | $2,084,477 |
| Net Investment Income | $2,600,913 | $1,269,522 | $661,083 |
| Distributable Amount | $1,774,815 | $1,726,112 | $1,763,153 |
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 2024
Grant Size Distribution
250 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Malta House of Care Foundation ($85,000), Connecticut Science Center ($72,820), Hockanum Valley Community Council ($61,000).
| Recipient | Purpose | Amount |
|---|---|---|
| ALTRUSA INTERNATIONAL INC DES PLAINES, IL | SUPPORT | $4,000 |
| AMERICAN RED CROSS CONNECTICUT CHAP GREENWICH, CT | SUPPORT | $5,000 |
| ARTS FOR LEARNING CONNECTICUT HAMDEN, CT | SUPPORT | $5,000 |
| BRAIN INJURY ALLIANCE OF CT WINDSOR, CT | SUPPORT | $1,500 |
| BUILDING HEALTHY FAMILIES MANCHESTER, CT | SUPPORT | $3,000 |
| BOY SCOUTS OF AMERICA CONNECTICUT R EAST HARTFORD, CT | SUPPORT | $42,425 |
| CENTER FOR CHILDREN'S ADVOCACY HARTFORD, CT | SUPPORT | $2,500 |
| CENTRAL CONNECTICUT STATE UNIVERSIT NEW BRITAIN, CT | SCHOLARSHIP | $16,500 |
| CHILDREN'S LAW CENTER OF CONNECTICU HARTFORD, CT | SUPPORT | $26,000 |
| CHILDREN'S MUSEUM WEST HARTFORD, CT | SUPPORT | $15,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
Staff:
- Molly (Mary) C. Devanney — Executive Director
- Kelley R. Gunther — Foundation and Scholarship Director
Board of Directors:
- Douglas K. Anderson — Chairman & President
- Charles L. Pike — Vice President
- Brian A. Orenstein — Treasurer
- Doreen H. Downham — Retired Executive Director
- Sheila B. Flanagan — Retired Executive Director
- Additional board members: Harry S. Gaucher, Stephen M. Joyner, Susan M. Keating, Linda S. Klein, Michael B. Lynch Jr., Eric A. Marziali, Allison K. Wholey, Gregory S. Wolff, Timothy J. Devanney, Michael J. Hartl, William D. O'Neill, Jon L. Norris, Richard D. Suski
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| DOREEN DOWNHAM | EX DIR/SECRE | 40 | $176,206 |
| CHARLES L PIKE | VICE PRESIDE | 0.5 | — |
| DOUGLAS K ANDERSON | PRESIDENT | 0.5 | — |
| BRIAN A ORENSTEIN | TREASURER | 0.5 | — |
| MARY C DEVANNEY | TRUSTEE | 0.5 | — |
| SHEILA B FLANAGAN | TRUSTEE | 0.5 | — |
| HARRY S GAUCHER | TRUSTEE | 0.5 | — |
| SUSAN M KEATING | TRUSTEE | 0.5 | — |
| LINDA S KLEIN | TRUSTEE | 0.5 | — |
| JOHN D LABELLE JR | TRUSTEE | 0.5 | — |
| ERIC A MARZIALI | TRUSTEE | 0.5 | — |
| JON L NORRIS | TRUSTEE | 0.5 | — |
| GREGORY S WOLFF | TRUSTEE | 0.5 | — |
| MICHAEL LYNCH | TRUSTEE | 0.5 | — |
| STEPHEN JOYNER | TRUSTEE | 0.5 | — |
| ALLISON WHOLEY | TRUSTEE | 0.5 | — |
Contact Information
Address: 935 Main Street, Level C, Unit B101, Manchester, CT 06040
Phone: (860) 533-0355
Fax: (860) 533-0241
Website: www.sbmfoundation.org
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Sbm Charitable Foundation Inc fund?
The SBM Charitable Foundation is committed to bettering the lives of those who live and work predominantly East of the River in Hartford, Tolland, and Windham Counties. The foundation's giving priorities are: • **Health Programs** — Direct services to the community, including hospitals, community health programs, prevention programs, and intervention services • **Human Services** — Broad-based projects that enhance and improve quality of personal life for residents • **Education** — Programs th…
How do I apply for a grant from Sbm Charitable Foundation Inc?
The foundation accepts online pre-applications for grants from organizations that have not received funding within the past two years. Organizations that have received funding within the past two years may submit formal "Request for Grant" applications. **Scholarship Program:** College scholarships of up to $5,000 each are awarded annually to students who: • Are permanent residents of the Connecticut counties served by the foundation • Are in the top 40 percent of their high school class or mai…
Where does Sbm Charitable Foundation Inc make grants?
The foundation serves Hartford County (East of River), Tolland County, and Windham County in Connecticut. Grant funding is restricted to organizations serving these regions, and scholarship recipients must be permanent residents of these counties.
What size grants does Sbm Charitable Foundation Inc award?
In 2024, Sbm Charitable Foundation Inc awarded 83 grants totaling $1.5M — an average of about $18K per grant, based on its IRS Form 990 filings.
How much is Sbm Charitable Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Sbm Charitable Foundation Inc reported a distributable amount of $1.8M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Sbm Charitable Foundation Inc's EIN?
Sbm Charitable Foundation Inc's EIN (Employer Identification Number) is 06-1574365. IRS Form 990 filing data is available on this page for 2020–2024.
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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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