The Troy Savings Bank Charitable Fo
The Troy Savings Bank Charitable Foundation is a private foundation located in Troy, New York. It is described as the community legacy of the former Troy Savings Bank and supports grantmaking intended to strengthen communities.
Key facts about The Troy Savings Bank Charitable Fo
In short: The Troy Savings Bank Charitable Fo gave $875K across 59 grants in 2025 (avg $15K), mostly in New York. 24% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.
- EIN
- 14-1813865
- Latest 990 filing
- Form 990-PF, 2025
- Annual giving (2025)
- $874,757
- Grants made (2025)
- 59
- Average grant
- $14,826
- Median grant
- $3,264
- New grantees (estimate)
- 24% first-time grantees (14 of 59, 2025)
- Total assets
- $11,179,969
- Primary geography
- New York (100% of itemized 2025 grant dollars)
- How to apply
- Request the foundation’s grant application form and submit the required materials. Full details ↓
- Deadline
- None.
Data from IRS Form 990-PF, 2025; updated September 2026. New grantees are estimated by matching recipient names across years (methodology). Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$11.2M
-5.4% YoY
Annual Giving
$875K
+32.0% YoY
Grant Count
59
+15.7% YoY
Avg Grant Size
$15K
+14.1% YoY
Under IRS private-foundation payout rules, The Troy Savings Bank Charitable Fo reported a distributable amount of $678K for 2025 — the minimum it must pay out in qualifying distributions.
Is The Troy Savings Bank Charitable Fo open to new grantees?
24%
first-time grantees, 2025
In 2025, 14 of 59 grantees (24%) were first-time recipients. First grants averaged $6K; repeat grants $18K. How we count
Medians: $3K first-time, $4K repeat.
- 63% of 2025 grantees were also funded in 2024. Method
- Giving grew 127% from 2022 to 2025. Method
- In 2025 it paid out 167% 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.
Mission & Focus Areas
The foundation describes its community grantmaking as a way to strengthen communities and support positive, lasting change. Its stated areas of interest include community development, youth development, and artistic initiatives. It encourages collaboration among nonprofits, government agencies, and private funders, and its program description says it supports operating expenses for organizations serving community needs.
Examples of supported organizations illustrate a range of services. The Commission on Economic Opportunity describes its work as helping individuals and families build self-sufficiency and rise out of poverty. Oakwood Community Center describes its mission as bringing neighbors together and maintaining a welcoming space in Troy. Girls Inc. of the Greater Schenectady says its mission is to inspire girls to be strong, smart, and bold.
Grantmaking
In filing year 2025, the foundation reported 59 grants totaling $874,757. Grants ranged from $250 to $478,250, with a median grant of $3,264. All reported grant dollars went to recipients in New York.
Review Cycle
None.
Open Grants
1 open opportunity from The Troy Savings Bank Charitable Fo
Ready to take the next step with The Troy Savings Bank Charitable Fo?
Geographic Focus
Where this funder awards grants
The 2025 grants listed in the filing went entirely to New York recipients. The foundation’s grant program specifies eligible nonprofits operating in certain New York counties, but the available program description does not identify them.
Grant Distribution by State
Share of 2025 grant dollars across all 59 itemized grants.
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $385K (2022) to $1.2M (2019). In 2025 it made 59 grants totaling $875K.
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was TSB Music Hall Corporation ($478K). Together the top 10 received $691K.
Grant Size Distribution
252 grants across all recorded years
The most common grant size was under $50K: 242 grants of 252 (96%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| TSB Music Hall Corporation Troy, NY | Program Support | $478,250 |
| St Paul's Church Troy, NY | Program Support | $40,000 |
| Commission on Economic Opportunity Troy, NY | Program Support | $32,750 |
| Troy Area United Ministries Troy, NY | Program Support | $23,500 |
| American Red Cross Albany, NY | Program Support | $20,000 |
| Jewish Family Services of Northeast Albany, NY | Program Support | $20,000 |
| Grassroots Givers Albany, NY | Program Support | $20,000 |
| Vanderheyden Hall Wynantskill, NY | Program Support | $20,000 |
| Arvilla E Diver Memorial Library Schaghticoke, NY | Program Support | $20,000 |
| Interfaith Partnership Albany, NY | Program Support | $16,000 |
Financial History
Multi-year comparison from IRS filings
| Filing year | Assets | Revenue | Expenses | Grants | Grant count |
|---|---|---|---|---|---|
| 2025 | $11,179,969 | $583,711 | $1,232,764 | $874,757 | 59 |
| 2024 | $11,819,452 | $723,277 | $945,253 | $662,462 | 51 |
| 2023 | $12,049,545 | $339,280 | $749,745 | $466,030 | 48 |
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $11,179,969 | $11,819,452 | $12,049,545 |
| Revenue | $583,711 | $723,277 | $339,280 |
| Expenses | $1,232,764 | $945,253 | $749,745 |
| Qualifying Distributions | $1,134,078 | $871,649 | $644,055 |
| Net Investment Income | $500,374 | $646,591 | $248,007 |
| Distributable Amount | $677,974 | $646,782 | $618,269 |
Data update history
When this profile's IRS filing data changed on Grantable
- Added Form 990-PF for fiscal year 2019 (received by the IRS June 17, 2020)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 14, 2026)
- IRS filings on file for fiscal years 2020–2024
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Leslie Cheu and Jenna Cuilla as executive directors; Sheila Mendleson as president; Anthony O’Haire as vice president; Michelle Massry as secretary; and Robert Fritz as treasurer. It also lists Don Lee Applyrs, Matthew Clarke, and Sophia Hammett Turner as directors.
The Troy Savings Bank Charitable Fo is led by Sheila Mendleson, President since 2022 (on filings since 2019); 2 of 9 officers listed in 2025 are compensated.
Officers on the 2025 filing
Sheila Mendleson
President
Director → President, 2022
On filings since 2019
2 hrs/week
No compensation reported
Sophia Hammett Turner
Director
Director → Secretary, 2022
Secretary → Director, 2025
On filings since 2019
1 hr/week
No compensation reported
Don Lee Applyrs
Director
On filings since 2024
1 hr/week
No compensation reported
Matthew Clarke
Director
On filings since 2024
1 hr/week
No compensation reported
Leslie Cheu
Executive Di
On filings since 2019
40 hrs/week
$96K (2019) → $86K (2025)
Jenna Cuilla
Executive Di
New on the 2025 filing
40 hrs/week
$80K (2025)
Anthony O'Haire
Vice President
Director → Vice President, 2022
On filings since 2019
1 hr/week
No compensation reported
Robert Fritz
Treasurer
Director → Treasurer, 2022
On filings since 2019
1 hr/week
No compensation reported
Michelle Massry
Secretary
New on the 2025 filing
1 hr/week
No compensation reported
Former officers (6)
- Former: Micki Massry (2019–2024) — Director
- Former: Lois Arakelian (2019–2023) — Director
- Former: Daniel Hogarty Jr. (2019–2021) — President
- Former: George Arakelian (2019–2021) — Secretary
- Former: Kristen Healy (2019–2021) — Director
- Former: Michael E. Fleming (2019–2020) — 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.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $86K, to Leslie Cheu (Executive Di). 2 officers or directors reported compensation on that filing.
Contact
Application contact: Jenna Cuilla Executive Director
Mailing address: 32 Second Street, Troy, NY 12180
Phone: (518) 720-0006
Website: https://troymusichall.org
Frequently asked questions about The Troy Savings Bank Charitable Fo
How much does The Troy Savings Bank Charitable Fo give each year?
The Troy Savings Bank Charitable Fo gave $875K across 59 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $662K across 51 grants.
What is The Troy Savings Bank Charitable Fo's typical grant size?
The Troy Savings Bank Charitable Fo's median grant in 2025 was $3,264, and its average grant was $14,826, across 59 grants on its 2025 IRS Form 990-PF. Organizations receiving their first grant from The Troy Savings Bank Charitable Fo that year got $6K on average.
Where does The Troy Savings Bank Charitable Fo give grants?
The Troy Savings Bank Charitable Fo gives mostly in New York: 100% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Troy, NY (25 grants), Albany, NY (17 grants), Rensselaer, NY (3 grants) and Schaghticoke, NY (2 grants).
Does The Troy Savings Bank Charitable Fo give general operating support?
Not in 2025: none of the 59 grants with a stated purpose on The Troy Savings Bank Charitable Fo's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Program Support" (59 grants).
Who are The Troy Savings Bank Charitable Fo's largest grantees?
The Troy Savings Bank Charitable Fo's largest 2025 grantees include TSB Music Hall Corporation ($478,250), St Paul's Church ($40,000) and Commission on Economic Opportunity ($32,750), according to its 2025 IRS Form 990-PF. Together they received 63% of its itemized 2025 grant dollars.
How large is The Troy Savings Bank Charitable Fo?
The Troy Savings Bank Charitable Fo reported $11.2M in total assets on its 2025 IRS Form 990-PF. It paid out $1.1M in qualifying distributions that year, against a required minimum of $678K (roughly 5% of its investment assets).
What does The Troy Savings Bank Charitable Fo fund?
The foundation describes its community grantmaking as a way to strengthen communities and support positive, lasting change. Its stated areas of interest include community development, youth development, and artistic initiatives. See mission & focus areas ↑
How do I apply for a grant from The Troy Savings Bank Charitable Fo?
Request the foundation’s grant application form and submit the required materials. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is The Troy Savings Bank Charitable Fo's EIN?
The Troy Savings Bank Charitable Fo's EIN (Employer Identification Number) is 14-1813865. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Here's the math on researching The Troy Savings Bank Charitable Fo by hand.
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