The Bay State Federal Savings
The Bay State Federal Savings Charitable Foundation is a private grantmaking foundation established in 1997 in Massachusetts and granted 501(c)(3) tax-exempt status in 1999. Originally established as a company-sponsored operating foundation associated with Bay State Federal Savings Bank, the foundation continues its charitable mission independently. The foundation is classified as a private foundation (NTEE Code T20) and operates from Sagamore Beach, Massachusetts.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$16.3M
+13.8% YoY
Annual Giving
$484K
+5.5% YoY
Grant Count
144
-12.2% YoY
Avg Grant Size
$3K
+20.2% YoY
Under IRS private-foundation payout rules, The Bay State Federal Savings reported a distributable amount of $717K for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation's mission centers on giving for:
- Youth services
- Education
- Health associations and healthcare, including hospitals and medical research
- Community organizations that contribute to the quality of life
- Social services
The foundation primarily funds general operating support for nonprofit organizations aligned with these priorities.
Grantmaking
Grant Range
$5,000–$10,000
Review Cycle
**Recent Grant Recipients (2024)**
Ready to take the next step with The Bay State Federal Savings?
Geographic Focus
Where this funder awards grants
The foundation's giving is principally focused on Massachusetts, with some grants extending to Florida and Illinois.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of 2024:
- Total assets: $16,253,139
- Total revenues: $3,550,024
- Total expenses: $834,952
- Annual giving: approximately $484,100
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $16,253,139 | $14,282,747 | $12,370,810 |
| Revenue | $3,550,024 | $706,576 | $940,657 |
| Expenses | $834,952 | $790,462 | $841,370 |
| Qualifying Distributions | $682,086 | $737,381 | $774,140 |
| Net Investment Income | $3,509,454 | $651,921 | $878,881 |
| Distributable Amount | $716,728 | $643,866 | $656,586 |
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 Archdiocese for the Military Services ($10,000), Catholic Memorial School ($10,000), American Cancer Society ($7,500).
| Recipient | Purpose | Amount |
|---|---|---|
| Adult & Teen Challenge New England and New Jersey Brockton, MA | General Operating Support | $2,500 |
| Alzheimer's Association Chicago, IL | General Operating Support | $2,500 |
| American Cancer Society Atlanta, GA | General Operating Support | $7,500 |
| American Diabetes Association Arlington, VA | General Operating Support | $2,500 |
| American Heart Association Dallas, TX | General Operating Support | $2,500 |
| American Institute for Cancer Research Arlington, VA | General Operating Support | $2,500 |
| American Red Cross Washington, DC | General Operating Support | $5,000 |
| Archdiocese for the Military Services Washington, DC | General Operating Support | $10,000 |
| Asian Task Force Against Domestic Violence Boston, MA | General Operating Support | $2,500 |
| Best Buddies International Inc Miami, FL | General Operating Support | $2,500 |
Leadership & Key People
Leadership team and compensation from IRS filings
Denise M Renaghan — President (compensation: $94,000 as of 2025)
The foundation operates with one employee.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Denise M Renaghan | President/Director | 30 | $94,000 |
| Michael O Gilles | Treasurer/Director | 20 | $30,000 |
| Anthony F Caruso | Secretary/Director | 10 | $16,000 |
| Brenda T Harrington | Asst. Treasurer/Director | 20 | $15,000 |
Contact Information
- Mailing Address: P.O. Box 1190, Sagamore Beach, MA 02562-1190
- Alternative Address: 55 Cambridge Parkway, Suite 105, Cambridge, MA 02142-1263
- Phone: (617) 225-2822
- Fax: (617) 225-6945
- Email: info@baystatecharitable.com
- Website: baystatecharitable.com
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does The Bay State Federal Savings fund?
The foundation's mission centers on giving for: • Youth services • Education • Health associations and healthcare, including hospitals and medical research • Community organizations that contribute to the quality of life • Social services The foundation primarily funds general operating support for nonprofit organizations aligned with these priorities.
How do I apply for a grant from The Bay State Federal Savings?
**Grant Activity (2024)** • Number of grants: 139 grants distributed • Total grants distributed: $484,100 • Typical grant range: $5,000–$10,000 • Application method: Letter/proposal with no deadline **Recent Grant Recipients (2024)** • Sacred Heart Parish: $10,000 • Archdiocese for the Military Services USA: $10,000 • Interfaith Social Services: $8,000 • Massachusetts General Hospital (among other recipients)
Where does The Bay State Federal Savings make grants?
The foundation's giving is principally focused on Massachusetts, with some grants extending to Florida and Illinois.
What size grants does The Bay State Federal Savings award?
In 2024, The Bay State Federal Savings awarded 144 grants totaling $484K — an average of about $3K per grant, based on its IRS Form 990 filings.
How much is The Bay State Federal Savings required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The Bay State Federal Savings reported a distributable amount of $717K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is The Bay State Federal Savings's EIN?
The Bay State Federal Savings's EIN (Employer Identification Number) is 04-3415547. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in The Bay State Federal Savings's focus areas in our free grants database
Related Funders
Similar funders by location and focus area
Conservation Food and Health Foundation
BOSTON, MA
Assets
$14.6M
Grants
49
Total Given
$2.2M
Charles J Tasker Memorial Scholarship Fund
HANOVER, MA
Assets
$98K
Grants
1
Total Given
$8K
The Bulens Family Foundation
WELLESLEY, MA
Assets
$3.0M
Grants
68
Total Given
$956K
Marshall M & Barbara J Sloane Pvt Found
CHESTNUT HILL, MA
Assets
$1.2M
Grants
11
Total Given
$75K
John J Mcardle Iii & Joan C Mcardle
ANDOVER, MA
Assets
$1.8M
Grants
13
Total Given
$205K
Massachusetts Association of Realtors
FOXBOROUGH, MA
Assets
$18.1M
Grants
2
Total Given
$71K
Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
What could you do with The Bay State Federal Savings on Grantable?
- Assess strategic fit with your organization
- Draft a tailored letter of inquiry
- Find open RFPs from this funder
- Monitor for new funding opportunities
Go from researching The Bay State Federal Savings to a real strategy.