The Milford Bank Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in MILFORD, CT. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $602K in total assets. In 2024, it awarded 25 grants totaling $31K. Net investment income was $24K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$602K
+26.4% YoY
Annual Giving
$31K
-34.4% YoY
Grant Count
25
+8.7% YoY
Avg Grant Size
$1K
-39.6% YoY
Under IRS private-foundation payout rules, The Milford Bank Foundation Inc reported a distributable amount of $25K for 2024 — the minimum it must pay out in qualifying distributions.
About The Milford Bank Foundation Inc
Based on IRS filings
The Milford Bank Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in MILFORD, CT. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $602K in total assets. In 2024, it awarded 25 grants totaling $31K. Net investment income was $24K.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $602,011 | $476,347 | $444,798 |
| Revenue | $148,405 | $51,341 | $101,261 |
| Expenses | $30,784 | $47,936 | $107,987 |
| Qualifying Distributions | $30,000 | $47,250 | $107,450 |
| Net Investment Income | $24,433 | $4,382 | $1,719 |
| Distributable Amount | $24,687 | $18,687 | $22,638 |
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
131 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Emerge Inc ($2,500), Purple Pantry Boxes ($2,500), Sterling House Community Center ($2,500).
| Recipient | Purpose | Amount |
|---|---|---|
| BASE 7 COMMUNITIES MILFORD, CT | COMPOSTING PROGRAM | $500 |
| BRAKETTES INC STRATFORD, CT | LIVING MUSEUM SUPPORT | $1,000 |
| BOYS & GIRLS CLUB OF MILFORD MILFORD, CT | TEEN FINANCIAL LITERACY PROGRAM | $1,000 |
| BRIDGES HEALTHCARE INC MILFORD, CT | THERAPY SUPPLIES | $2,380 |
| EMERGE INC STRATFORD, CT | DOMESTIC VIOLENCE SUPPORT | $2,500 |
| FREELOVE BALDWIN STOW CHAPTER DAR MILFORD, CT | CLASSROOM SUPPLIES | $250 |
| FRIENDS OF THE MILFORD LIBRARY MILFORD, CT | PROGRAMMING SUPPORT | $750 |
| GIVING TABLE THE FORAN HS MILFORD, CT | MEALS FOR THOSE IN NEED | $1,000 |
| GOOD CHILD DEVELOPMENT CENTER MILFORD, CT | FOOD PROGRAM | $1,000 |
| JONATHAN LAW HS SCIENCE OLYMPIAD TEAM MILFORD, CT | SUPPLIES & TRANSPORTATION | $1,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| JORGE A SANTIAGO | PRESIDENT & CHAIR | — | — |
| DAVID B RUBIN | BOARD VICE CHAIR | — | — |
| MICHAEL A CAPODANNO | TREASURER | — | — |
| KARUNA KASBAWALA | SECRETARY | — | — |
| JOHN A HARKINS | BOARD MEMBER | — | — |
| JOY TOPAZIAN MOORE | BOARD MEMBER | — | — |
| KEVIN C MCGRATH | BOARD MEMBER | — | — |
| PETER A OLSEN | BOARD MEMBER | — | — |
| DAVID ESPOSITO | BOARD MEMBER | — | — |
| BEVERLY K STREIT | BOARD MEMBER | — | — |
| MICHAEL J PAOLINI | BOARD MEMBER | — | — |
| GARY L OPIN | BOARD MEMBER | — | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is The Milford Bank Foundation Inc?
The Milford Bank Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in MILFORD, CT. It holds $602K in total assets as of 2024.
How large is The Milford Bank Foundation Inc?
As of 2024, The Milford Bank Foundation Inc holds $602K in total assets with $148K in annual revenue. It awarded 25 grants totaling $31K in 2024.
Where does The Milford Bank Foundation Inc operate?
The Milford Bank Foundation Inc has awarded grants in Connecticut, District of Columbia.
What size grants does The Milford Bank Foundation Inc award?
In 2024, The Milford Bank Foundation Inc awarded 25 grants totaling $31K — an average of about $1K per grant, based on its IRS Form 990 filings.
How much is The Milford Bank Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The Milford Bank Foundation Inc reported a distributable amount of $25K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
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 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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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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