The Savings Bank Charitable Foundation
The Savings Bank Charitable Foundation is a private foundation based in Wakefield, Massachusetts. Its 2025 filing reports 23 grants totaling $67,768, all to recipients in Massachusetts, including organizations serving people in need and providing food, shelter, youth, elder, health, and community programs.
The Savings Bank Charitable Foundation at a glance
In short: The Savings Bank Charitable Foundation gave $68K across 23 grants in 2025 (avg $3K), mostly in Massachusetts. 27% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $67,768
- +4.2% vs 2024
- Grants made (2025)
- 23
- +15.0% vs 2024
- Average grant
- $2,946
- -9.4% vs 2024
- Median grant
- $3,000
- Total assets
- $957,633
- +9.5% vs 2024
- New grantees (estimate)
- 27% first-time grantees (6 of 22, 2025; small sample)
- Primary geography
- Massachusetts (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 Savings Bank Charitable Foundation
- Accepts unsolicited proposals
- No
- How to Apply
-
The foundation states that it does not accept unsolicited requests for funds and makes contributions only to preselected charitable organizations. The filing names Denise Carbone as the contact and says applications and materials are available at the address listed on the filing. Awards are to be granted within Wakefield, Massachusetts, and its vicinity unless the Board of Directors makes an exception to benefit community, charitable, educational, or other benevolent purposes.
- Review Cycle
- The filing says to see applications for various deadlines.
- Deadline
- The filing says to see applications for various deadlines.
- Contact
Application contact: Denise Carbone
Mailing address: 357 Main Street PO Box 30, Wakefield, MA 01880
Phone: (781) 246-0400
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who The Savings Bank Charitable Foundation funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Wakefield Food Pantry ($7K). Together the top 10 received $43K.
Grant Size Distribution
96 grants across all recorded years
The most common grant size was under $50K: 96 grants of 96 (100%).
Geographic Focus
Where this funder awards grants
The foundation’s 2025 filing reports that 100% of grant dollars went to Massachusetts recipients. Its stated award restriction is Wakefield, Massachusetts, and its vicinity, subject to an exception by the Board of Directors for the purposes described in the filing.
Grant Distribution by State
Share of 2025 grant dollars across all 23 itemized grants.
States
Cities
Is The Savings Bank Charitable Foundation open to new grantees?
27%
first-time grantees, 2025
In 2025, 6 of 22 grantees (27%) were first-time recipients. With only 22 grantees, that is a small sample: one grantee more or less moves the share by about 5 points. First grants averaged $2K; repeat grants $3K. How we count
Medians: $2K first-time, $3K repeat.
- 73% of 2025 grantees were also funded in 2024. Method
- Giving held roughly steady from 2022 to 2025 (+3%). Method
- In 2025 it paid out 107% 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 $42K (2019) to $68K (2025). In 2025 it made 23 grants totaling $68K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Wakefield Food Pantry Wakefield, MA | Provides food to those who need it | $6,500 |
| Emmaus Haverhill, MA | Emergency Shelter | $5,000 |
| Mission of Deeds Reading, MA | Good for people in need, free of charge | $5,000 |
| Neighbors in Need Lawrence, MA | Food Pantries | $5,000 |
| Bread & Roses Lawreance, MA | Kitchen Serving For Hardship Families | $4,500 |
| Lazarus House Ministries Lawreance, MA | Families in need | $4,000 |
| Communitas Wakefield, MA | Fitness And Health Programs | $3,768 |
| Boys & Girls Club of Lawrence Lawreance, MA | Youth Programs | $3,000 |
| Boys & Girls Club of Metro North Stoneham, MA | General Assistance | $3,000 |
| Essex Art Center Lawrence, MA | General assistance | $3,000 |
Ready to take the next step with The Savings Bank Charitable Foundation?
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 | $957,633 | $165,049 | $82,222 | $67,768 | 23 | $71,738 | $138,565 | $67,297 |
| 2024 | $874,806 | $59,978 | $80,578 | $65,040 | 20 | $69,217 | $50,358 | $64,580 |
| 2023 | $895,406 | $117,892 | $73,585 | $61,592 | 20 | $65,607 | $73,914 | $57,003 |
| 2022 | $851,099 | $136,894 | $78,979 | $65,976 | 18 | $70,046 | $28,196 | $54,858 |
| 2021 | $793,184 | $184,574 | $63,612 | $55,895 | 15 | $55,930 | $51,292 | $53,050 |
| 2020 | $672,222 | $37,256 | $52,786 | $45,006 | 14 | — | $31,111 | $32,358 |
| 2019 | $687,752 | $92,998 | $50,932 | $41,900 | 18 | — | $18,484 | $40,663 |
Under IRS private-foundation payout rules, The Savings Bank Charitable Foundation reported a distributable amount of $67K for 2025 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
The available statements do not give a mission for the foundation. Its 2025 grants include support for organizations whose own missions describe services to people in need. For example, Wakefield Food Pantry says it provides food assistance to Wakefield residents in need; Neighbors in Need says it provides food and basic necessities; and Emmaus describes serving people experiencing homelessness and other disadvantages through housing and support services.
Other 2025 grantees describe work including providing free home goods and furniture to people in need (Mission of Deeds), meals and related services (Bread & Roses), support and advocacy for people with developmental disabilities and their families (Communitas), community-based arts in Lawrence (Essex Art Center), and equine-assisted services for people and families with physical, cognitive, and emotional challenges (Ironstone Therapy).
Grantmaking
In filing year 2025, the foundation reported 23 grants totaling $67,768. Grants ranged from $1,000 to $6,500, with a median of $3,000. Its largest reported grants included:
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists the following officers and directors:
- Raichelle L Kallery — President/CEO
- Denise Carbone — Treasurer/Director
- Karen A Conard — Director
- Glenn D Dolbeare — Director
- Therese Jarmusik — Director
- Craig MacKenzie — Director
- Joanne Reilly — Director
- Margaret Super Church — Director
The Savings Bank Charitable Foundation is led by Raichelle L Kallery, President & CEO since 2025 (on filings since 2019); none of the 8 officers listed in 2025 report compensation.
Officers on the 2025 filing
Raichelle L Kallery
President & CEO
Vice President, Clerk & Director → Director, 2022
Director → President & CEO, 2025
On filings since 2019
1 hr/week
No compensation reported
Denise Carbone
Treasurer & Director
Vice President, Treasurer & Director → Treasurer & Director, 2022
On filings since 2019
1 hr/week
No compensation reported
Glenn D Dolbeare
Director
On filings since 2019
1 hr/week
No compensation reported
Joanne Reilly
Director
On filings since 2019
1 hr/week
No compensation reported
Margaret Super Church
Director
On filings since 2019
1 hr/week
No compensation reported
Therese Jarmusik
Director
On filings since 2019
1 hr/week
No compensation reported
Karen A Conard
Director
On filings since 2022
1 hr/week
No compensation reported
Craig MacKenzie
Director
New on the 2025 filing
1 hr/week
No compensation reported
Former officers (2)
- Former: Robert J DiBella (2019–2024) — Past President & Director
- Former: Karen A Conrad (2019–2021) — Director
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 Savings Bank Charitable Foundation
How much does The Savings Bank Charitable Foundation give each year?
The Savings Bank Charitable Foundation gave $68K across 23 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $65K across 20 grants.
What is The Savings Bank Charitable Foundation's typical grant size?
The Savings Bank Charitable Foundation's median grant in 2025 was $3,000, and its average grant was $2,946, across 23 grants on its 2025 IRS Form 990-PF. Organizations receiving their first grant from The Savings Bank Charitable Foundation that year got $2K on average.
Where does The Savings Bank Charitable Foundation give grants?
The Savings Bank Charitable Foundation gives mostly in Massachusetts: 100% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Lawrence, MA (5 grants), Lawreance, MA (3 grants), Lowell, MA (3 grants) and Wakefield, MA (2 grants).
Does The Savings Bank Charitable Foundation give general operating support?
Yes: 35% of The Savings Bank Charitable Foundation's 2025 grants with a stated purpose (8 of 23) were for general or operating support, per its 2025 IRS Form 990-PF.
Who are The Savings Bank Charitable Foundation's largest grantees?
The Savings Bank Charitable Foundation's largest 2025 grantees include Wakefield Food Pantry ($6,500), Emmaus ($5,000) and Mission of Deeds ($5,000), according to its 2025 IRS Form 990-PF. Together they received 24% of its itemized 2025 grant dollars.
How large is The Savings Bank Charitable Foundation?
The Savings Bank Charitable Foundation reported $958K in total assets on its 2025 IRS Form 990-PF. It paid out $72K in qualifying distributions that year, against a required minimum of $67K (roughly 5% of its investment assets).
What does The Savings Bank Charitable Foundation fund?
The available statements do not give a mission for the foundation. Its 2025 grants include support for organizations whose own missions describe services to people in need. See mission & focus areas ↑
How do I apply for a grant from The Savings Bank Charitable Foundation?
The foundation states that it does not accept unsolicited requests for funds and 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 Savings Bank Charitable Foundation's EIN?
The Savings Bank Charitable Foundation's EIN (Employer Identification Number) is 04-3370164. IRS Form 990 filing data is available on this page for 2019–2025.
Does The Savings Bank Charitable Foundation 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 September 2026.
Data update history
(7)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2024 (received by the IRS March 20, 2025)
- Updated Form 990-PF for fiscal year 2025 (received by the IRS May 5, 2026)
- Added Form 990-PF for fiscal year 2019 (received by the IRS February 28, 2020)
- Updated Form 990-PF for fiscal year 2020 (received by the IRS May 17, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS April 26, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 9, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS May 13, 2024)
Explore Open Grants
Browse active grant opportunities in The Savings Bank Charitable Foundation's focus areas in our free grants database
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Cite this profile
Grantable. (2026). The Savings Bank Charitable Foundation funder profile. GrantGraph. Retrieved October 14, 2026, from https://grantable.co/funders/the-savings-bank-charitable-foundation-morg_5bee756ea30e4a0c8e32df866efbfdb0
BibTeX
@misc{grantable_043370164_2026,
author = {{Grantable}},
title = {{The Savings Bank Charitable Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/the-savings-bank-charitable-foundation-morg_5bee756ea30e4a0c8e32df866efbfdb0},
note = {Accessed 2026-10-14. 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 Savings Bank Charitable Foundation'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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