The Troy Savings Bank Charitable Foundation Inc
The Troy Savings Bank Charitable Foundation Inc is a private foundation based in Troy, New York. Its 2025 filing reports grants to local, legally incorporated IRS 501(c)(3) organizations, with all reported grant dollars going to recipients in New York.
The Troy Savings Bank Charitable Foundation Inc at a glance
In short: The Troy Savings Bank Charitable Foundation Inc 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.
- Annual giving (2025)
- $874,757
- +32.0% vs 2024
- Grants made (2025)
- 59
- +15.7% vs 2024
- Average grant
- $14,826
- +14.1% vs 2024
- Median grant
- $3,264
- Total assets
- $11,179,969
- -5.4% vs 2024
- New grantees (estimate)
- 24% first-time grantees (14 of 59, 2025)
- Primary geography
- New York (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 Troy Savings Bank Charitable Foundation Inc
- Contact
Application contact: Jenna Cuilla Executive Director
Mailing address: 32 Second Street, Troy, NY 12180
Phone: (518) 720-0006
Website: https://www.tsbfoundation.org
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Open Grants
1 open opportunity from The Troy Savings Bank Charitable Foundation Inc
Who The Troy Savings Bank Charitable Foundation Inc funds
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%).
Geographic Focus
Where this funder awards grants
All grant dollars reported for 2025 went to New York recipients. The listed recipients include organizations in Troy, Albany, Wynantskill, Schaghticoke, and Schenectady.
Grant Distribution by State
Share of 2025 grant dollars across all 59 itemized grants.
Cities
Is The Troy Savings Bank Charitable Foundation Inc 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.
Giving History
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.
Grants by year
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 |
Ready to take the next step with The Troy Savings Bank Charitable Foundation Inc?
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 | $11,179,969 | $583,711 | $1,232,764 | $874,757 | 59 | $1,134,078 | $500,374 | $677,974 |
| 2024 | $11,819,452 | $723,277 | $945,253 | $662,462 | 51 | $871,649 | $646,591 | $646,782 |
| 2023 | $12,049,545 | $339,280 | $749,745 | $466,030 | 48 | $644,055 | $248,007 | $618,269 |
| 2022 | $12,451,677 | $372,366 | $627,075 | $384,526 | 46 | $589,076 | $299,169 | $646,921 |
| 2021 | $12,717,781 | $1,898,952 | $1,032,200 | $764,281 | 48 | $940,066 | $1,824,417 | $651,785 |
| 2020 | $11,839,274 | $1,049,614 | $1,277,735 | $1,011,105 | 51 | — | $977,739 | $645,406 |
| 2019 | $12,067,693 | $1,724,588 | $1,455,638 | $1,202,517 | 61 | — | $1,654,114 | $638,984 |
Under IRS private-foundation payout rules, The Troy Savings Bank Charitable Foundation Inc reported a distributable amount of $678K 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 available information does not state a mission for the foundation. Its 2025 grants include support for organizations whose own descriptions span services for people with low incomes, families and youth; nonprofit capacity-building; community gathering spaces; neurodiverse individuals; arts and creative activities; and innovation programs.
For example, Troy Area United Ministries describes its work as serving families fleeing domestic violence, people experiencing homelessness, people affected by HIV/AIDS, and other low-income community members. The New York Council of Nonprofits says its mission is to strengthen and promote New York’s charitable nonprofit community. CREATE Community Studios describes offering low-cost arts activities and open studios for personal growth, communication, and social change.
Grantmaking
In 2025, the foundation reported 59 grants totaling $874,757. Grant amounts ranged from $250 to $478,250, with a median of $3,264. The largest grant was $478,250 to TSB Music Hall Corporation for program support. Other large awards included $40,000 to St Paul’s Church, $32,750 to Commission on Economic Opportunity, and $23,500 to Troy Area United Ministries, each for program support.
Additional 2025 recipients included American Red Cross, Jewish Family Services of Northeast, Grassroots Givers, Vanderheyden Hall, and Arvilla E Diver Memorial Library, each receiving $20,000 for program support. Oakwood Community Center received $13,450. The filing states that the foundation does not restrict giving to preselected organizations. A grant application form is provided upon request and must include a concise program description, statement of need, population to be served, proposed course of action, related experience, project personnel, anticipated results, and evaluation plans. Applicants must be local, legally incorporated IRS 501(c)(3) organizations.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Leslie Cheu and Jenna Cuilla as “Executive DI,” Sheila Mendleson as president, Anthony O’Haire as “Vice Preside,” Michelle Massry as secretary, Robert Fritz as treasurer, and Don Lee Applyrs, Matthew Clarke, and Sophia Hammett Turner as directors.
The Troy Savings Bank Charitable Foundation Inc 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.
Frequently asked questions about The Troy Savings Bank Charitable Foundation Inc
How much does The Troy Savings Bank Charitable Foundation Inc give each year?
The Troy Savings Bank Charitable Foundation Inc 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 Foundation Inc's typical grant size?
The Troy Savings Bank Charitable Foundation Inc'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 Foundation Inc that year got $6K on average.
Where does The Troy Savings Bank Charitable Foundation Inc give grants?
The Troy Savings Bank Charitable Foundation Inc 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 Foundation Inc give general operating support?
Not in 2025: none of the 59 grants with a stated purpose on The Troy Savings Bank Charitable Foundation Inc'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 Foundation Inc's largest grantees?
The Troy Savings Bank Charitable Foundation Inc'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 Foundation Inc?
The Troy Savings Bank Charitable Foundation Inc 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 Foundation Inc fund?
The available information does not state a mission for the foundation. See mission & focus areas ↑
How do I apply for a grant from The Troy Savings Bank Charitable Foundation Inc?
The Troy Savings Bank Charitable Foundation Inc has no public application process in the sources Grantable reviewed. Check tsbfoundation.org for current guidelines, or contact the foundation directly before submitting a request.
What is The Troy Savings Bank Charitable Foundation Inc's EIN?
The Troy Savings Bank Charitable Foundation Inc's EIN (Employer Identification Number) is 14-1813865. IRS Form 990 filing data is available on this page for 2019–2025.
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 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
Live grants for the work The Troy Savings Bank Charitable Foundation Inc funds
Philanthropy, Voluntarism & Grantmaking Open opportunities, soonest deadline first.
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Cite this profile
Grantable. (2026). The Troy Savings Bank Charitable Foundation Inc funder profile. GrantGraph. Retrieved October 22, 2026, from https://grantable.co/funders/the-troy-savings-bank-charitable-foundation-inc-morg_2469540ac71c406dba5fcdf1f04d8c8f
BibTeX
@misc{grantable_141813865_2026,
author = {{Grantable}},
title = {{The Troy Savings Bank Charitable Foundation Inc funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/the-troy-savings-bank-charitable-foundation-inc-morg_2469540ac71c406dba5fcdf1f04d8c8f},
note = {Accessed 2026-10-22. 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 Troy Savings Bank Charitable 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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