The Robert F Stoicofirstfed Charitable
The Robert F. Stoico / FIRSTFED Charitable Foundation is a private foundation based in Swansea, Massachusetts. Established in 1997 as part of the conversion of First Federal Savings Bank of America to a public company, the foundation has been uplifting the communities of southeastern Massachusetts and Rhode Island since its inception. The foundation has given and pledged over thirty-five million dollars to organizations in its service region.
Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$32.4M
+20.5% YoY
Annual Giving
$853K
-6.4% YoY
Grant Count
59
+43.9% YoY
Avg Grant Size
$14K
-34.9% YoY
Mission & Focus Areas
The foundation's mission is to strengthen communities by enhancing opportunities in the following areas:
- Housing opportunities for low-income or indigent citizens
- Job development, particularly for low-income, immigrant, and student communities
- Educational programs
- Arts and cultural programs that benefit the public or traditionally underserved populations
- Accessible healthcare for all
Grantmaking
The foundation made 38 grants in its most recent fiscal year. Typical grant awards range from $100,000 to $400,000.
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Geographic Focus
Where this funder awards grants
The foundation provides support to nonprofit organizations in:
- Southeastern Massachusetts
- Northern and central sections of Rhode Island
- New York (noted in some sources)
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
Most Recent Financial Data (2024-2025):
- Total assets: $32,408,974
- Total revenues: $824,452
- Total expenses: $1,332,921
- Number of employees: 2
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $32,408,974 | $26,899,154 | $23,218,568 |
| Revenue | $7,442,856 | $824,452 | $1,162,614 |
| Expenses | $1,235,566 | $1,332,921 | $1,040,398 |
| Qualifying Distributions | $1,146,919 | $1,173,757 | $960,249 |
| Net Investment Income | $2,558,900 | $757,916 | $1,039,039 |
| Distributable Amount | $1,372,636 | $1,168,947 | $1,198,644 |
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 2025
Grant Size Distribution
209 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Robert F. Stoico founded the foundation and served as its leader. He passed away on January 15, 2025, at the age of 84. Stoico had dedicated 30 years to leading FIRSTFED American Bancorp Inc., growing the company from a federal savings and loan service to a multimillion-dollar financial institution.
Compensation Overview
From 2025 IRS filing
From 2025 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| CECILIA R VIVEIROS | CORP SECRETARY/EXEC DIRECTOR | 35 | $73,886 |
| DR PAUL RAYMOND | PRES/TREAS/CHMN/DIR (STARTED 01/2025) | 1 | — |
| GILBERT OLIVEIRA | DIRECTOR (STARTED 03/2025) | 1 | — |
| JOHN VARAO | DIRECTOR | 1 | — |
| KATHERINE LACOSTE SURPRENANT | DIRECTOR (STARTED 03/2025) | 1 | — |
| RICHARD W CEDERBERG | DIRECTOR | 1 | — |
| ROBERT F STOICO | PRES/TREAS/CHMN (DECEASED 01/2025) | 35 | $99,413 |
| STACIE C HESS | CORP SEC./EXEC. DIR (STARTED 02/2025) | 35 | $7,105 |
| ANTHONY SYLVIA | DIRECTOR (DECEASED 12/2024) | 1 | — |
Recent News & Activity
Recent developments and announcements
**2016:** The foundation donated $1.1 million to Southcoast Health's Campaign for Southcoast Health. The gift included $1 million for the Maternity Center at St. Luke's Hospital in New Bedford and $100,000 for the care of drug-addicted newborns.
Stoico/FIRSTFED Charitable Foundation donates $1.1 million for maternity\**2007:** Robert F. Stoico announced a $1 million gift to UMass Dartmouth. The university invested $750,000 in the physical renovation of the Claire T. Carney Library and established the Robert F. Stoico/FIRSTFED Grand Reading Room, a two-story space designed to promote intellectual engagement and accommodate both small and large group gatherings.
FIRSTFED''s Robert F. Stoico honored as philanthropist, community leader:Subject Areas
Focus areas based on grantmaking activity
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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