The Milford Bank Foundation Inc
The Milford Bank Foundation Inc is a private foundation based in Milford, Connecticut. Established in 2003, it supports charitable, health, public safety, and education initiatives in communities served by The Milford Bank.
The Milford Bank Foundation Inc at a glance
In short: The Milford Bank Foundation Inc gave $85K across 29 grants in 2025 (avg $3K), mostly in Connecticut. 22% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $85,000
- +174.2% vs 2024
- Grants made (2025)
- 29
- +16.0% vs 2024
- Average grant
- $2,931
- +136.4% vs 2024
- Median grant
- $1,500
- Total assets
- $806,286
- +33.9% vs 2024
- New grantees (estimate)
- 22% first-time grantees (6 of 27, 2025)
- Primary geography
- Connecticut (100% 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 The Milford Bank Foundation Inc
- Accepts unsolicited proposals
- No
- How to Apply
-
The foundation does not accept unsolicited requests for funds and states that it makes contributions only to preselected charitable organizations.
- Contact
Mailing address: 33 Broad Street, Milford, CT 06460
Phone: (203) 783-5703
Website: https://www.milfordbank.com
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who The Milford Bank Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Boys and Girls Club of Milford ($27K across 2 grants). Together the top 10 received $67K.
Grant Size Distribution
207 grants across all recorded years
The most common grant size was under $50K: 207 grants of 207 (100%).
Geographic Focus
Where this funder awards grants
All grant dollars reported for 2025 went to recipients in Connecticut. Listed recipients included organizations in Milford and Stratford, among other Connecticut communities.
Grant Distribution by State
Share of 2025 grant dollars across all 29 itemized grants.
Cities
Is The Milford Bank Foundation Inc open to new grantees?
22%
first-time grantees, 2025
In 2025, 6 of 27 grantees (22%) were first-time recipients. First grants averaged $5K; repeat grants $3K. How we count
Medians: $825 first-time, $2K repeat.
- 63% of 2025 grantees were also funded in 2024. Method
- Giving fell 21% from 2022 to 2025. Method
- In 2025 it paid out 282% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2019–2025). 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 2019 to 2025, annual grant giving ranged from $16K (2019) to $107K (2022). In 2025 it made 29 grants totaling $85K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Beth Ei Center Milford, CT | Contribution to Capital Campaign | $25,000 |
| Boys and Girls Club of Milford Milford, CT | Contribution to Endowment Fund | $25,000 |
| Emerge Inc Stratford, CT | HUD Matching Funds | $2,500 |
| Milford Prevention Council Milford, CT | Program Sustainability | $2,500 |
| Bridges Healthcare Inc Milford, CT | Child Outpatient Supplies | $2,000 |
| Literacy Volunteers of Southern CT Milford, CT | Educational Supplies | $2,000 |
| Sterling House Community Center Stratford, CT | Food Insecurity Programs | $2,000 |
| Boys and Girls Club of Milford Milford, CT | Club Store Program/Finan Literacy | $1,500 |
| First United Church of Christ Milford, CT | Building Campaign | $1,500 |
| Foran HS - Giving Table Milford, CT | Community Meals | $1,500 |
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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 | $806,286 | $284,280 | $86,198 | $85,000 | 29 | $85,000 | $32,822 | $30,117 |
| 2024 | $602,011 | $148,405 | $30,784 | $31,000 | 25 | $30,000 | $24,433 | $24,687 |
| 2023 | $476,347 | $51,341 | $47,936 | $47,250 | 23 | $47,250 | $4,382 | $18,687 |
| 2022 | $444,798 | $101,261 | $107,987 | $107,450 | 111 | $107,450 | $1,719 | $22,638 |
| 2021 | $472,206 | $150,211 | $17,005 | $17,000 | 19 | $17,000 | $206 | $19,973 |
| 2020 | $339,000 | $25,385 | $16,530 | $16,525 | 14 | — | $380 | $16,473 |
| 2019 | $330,145 | $26,687 | $17,305 | $16,100 | 27 | — | $482 | $16,024 |
Under IRS private-foundation payout rules, The Milford Bank Foundation Inc reported a distributable amount of $30K 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 support as covering charitable, health, public safety, and education initiatives. Its 2025 grants included contributions for capital and endowment campaigns, housing support, child outpatient supplies, educational supplies, food insecurity programs, community meals, classroom supplies, and a science competition team.
The grantees’ own descriptions illustrate the range of organizations supported. Emerge Inc says it provides safe housing and support services to women and children who are homeless survivors of domestic violence. Bridges Healthcare Inc describes its work as mental health and substance-use treatment for children and adults in New Haven County. Sterling House Community Center says it offers programs including early childhood learning, youth development, and food security support. Good Child Development Center describes its work as full-day, year-round infant, toddler, and preschool care.
Grantmaking
In filing year 2025, the foundation reported 29 grants totaling $85,000. Awards ranged from $250 to $25,000, with a median of $1,500. The largest grants were $25,000 each to Beth Ei Center for a capital campaign and Boys and Girls Club of Milford for an endowment fund. Other reported awards included $2,500 to Emerge Inc for HUD matching funds, $2,500 to Milford Prevention Council for program sustainability, and $2,000 each to Bridges Healthcare Inc for child outpatient supplies, Literacy Volunteers of Southern CT for educational supplies, and Sterling House Community Center for food insecurity programs.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Jorge A. Santiago as president and chair; David B. Rubin as board vice chair; Michael A. Capodanno as treasurer; and Karuna Kasbawala as secretary. It also lists John A. Harkins, Joy Topazian Moore, Kevin C. McGrath, Peter A. Olsen, David Esposito, and Beverly K. Streit as board members.
The Milford Bank Foundation Inc is led by Jorge A. Santiago, President & Chair on every filing since 2024; none of the 12 officers listed in 2025 report compensation.
Officers on the 2025 filing
Jorge A. Santiago
President & Chair
On filings since 2024
No compensation reported
David B. Rubin
Board Vice Chair
Vice Chairman → Board Vice Chair, 2021
On filings since 2019
No compensation reported
David Esposito
Board Member
On filings since 2019
No compensation reported
John A. Harkins
Board Member
On filings since 2019
No compensation reported
Joy Topazian Moore
Board Member
On filings since 2019
No compensation reported
Kevin C. McGrath
Board Member
On filings since 2019
No compensation reported
Michael A. Capodanno
Treasurer
On filings since 2019
No compensation reported
Michael J. Paolini
Board Member
On filings since 2019
No compensation reported
Peter A. Olsen
Board Member
On filings since 2019
No compensation reported
Gary L. Opin
Board Member
On filings since 2023
No compensation reported
Beverly K. Streit
Board Member
On filings since 2024
No compensation reported
Karuna Kasbawala
Secretary
On filings since 2024
No compensation reported
Former officers (7)
- Former: Anne Marie Lenart (2019–2023) — Secretary
- Former: Beverly K. Streit-Kefalas (2019–2023) — Board Member
- Former: Carol A. McInnis (2019–2023) — Board Member
- Former: Susan L. Shields (2019–2023) — President & Chair
- Former: James R. Beard (2019–2022) — Board Chair
- Former: Raymond A. Macaluso (2019–2022) — Board Member
- Former: Joseph Pelaccia (2019–2020) — Board Member
Data from IRS Form 990 filings, 2019–2025. "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 The Milford Bank Foundation Inc
How much does The Milford Bank Foundation Inc give each year?
The Milford Bank Foundation Inc gave $85K across 29 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $31K across 25 grants.
What is The Milford Bank Foundation Inc's typical grant size?
The Milford Bank Foundation Inc's median grant in 2025 was $1,500, and its average grant was $2,931, across 29 grants on its 2025 IRS Form 990-PF. Organizations receiving their first grant from The Milford Bank Foundation Inc that year got $5K on average.
Where does The Milford Bank Foundation Inc give grants?
The Milford Bank Foundation Inc gives mostly in Connecticut: 100% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Milford, CT (22 grants) and Stratford, CT (5 grants).
Does The Milford Bank Foundation Inc give general operating support?
Not in 2025: none of the 29 grants with a stated purpose on The Milford Bank Foundation Inc's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Educational Supplies" (3 grants).
Who are The Milford Bank Foundation Inc's largest grantees?
The Milford Bank Foundation Inc's largest 2025 grantees include Boys and Girls Club of Milford ($26,500 across 2 grants), Beth Ei Center ($25,000) and Emerge Inc ($2,500), according to its 2025 IRS Form 990-PF. Together they received 64% of its itemized 2025 grant dollars.
How large is The Milford Bank Foundation Inc?
The Milford Bank Foundation Inc reported $806K in total assets on its 2025 IRS Form 990-PF. It paid out $85K in qualifying distributions that year, against a required minimum of $30K (roughly 5% of its investment assets).
What does The Milford Bank Foundation Inc fund?
The foundation describes its support as covering charitable, health, public safety, and education initiatives. See mission & focus areas ↑
How do I apply for a grant from The Milford Bank Foundation Inc?
The foundation does not accept unsolicited requests for funds and states that it makes contributions only to preselected charitable organizations. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is The Milford Bank Foundation Inc's EIN?
The Milford Bank Foundation Inc's EIN (Employer Identification Number) is 02-0600478. IRS Form 990 filing data is available on this page for 2019–2025.
Does The Milford Bank Foundation Inc accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated October 2026.
Data update history
(3)
When this profile's IRS filing data changed on Grantable
- Added Form 990-PF for fiscal year 2019 (received by the IRS July 7, 2020)
- Added Form 990-PF for fiscal year 2025 (received by the IRS June 26, 2026)
- IRS filings on file for fiscal years 2020–2024
Explore Open Grants
Browse active grant opportunities in The Milford Bank Foundation Inc's focus areas in our free grants database
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Cite this profile
Grantable. (2026). The Milford Bank Foundation Inc funder profile. GrantGraph. Retrieved October 5, 2026, from https://grantable.co/funders/the-milford-bank-foundation-inc-morg_de82cac94faa4d88972acee44b1bff4a
BibTeX
@misc{grantable_020600478_2026,
author = {{Grantable}},
title = {{The Milford Bank Foundation Inc funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/the-milford-bank-foundation-inc-morg_de82cac94faa4d88972acee44b1bff4a},
note = {Accessed 2026-10-05. 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 The Milford 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.
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