The Ulster Savings Charitable Foundation is a private philanthropic organization based in Kingston, New York. Established in 2001 in honor of Ulster Savings Bank's 150th anniversary, the foundation operates as a 501(c)(3) tax-exempt organization and has been tax-exempt since December 2003. The foundation is affiliated with Ulster Savings Bank, one of only 26 remaining mutual savings banks in New York State and one of 449 remaining in the United States.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$6.4M
+4.7% YoY
Annual Giving
$343K
+21.8% YoY
Grant Count
1
-98.8% YoY
Avg Grant Size
$343K
+10135.1% YoY
Mission & Focus Areas
The foundation's primary focus areas include:
- Education — supporting educational institutions and related activities
- Scholarships and Student Financial Aid — providing awards and financial support to students
- Human Services — funding social safety net programs and community support services
- Philanthropy and Voluntarism — supporting grantmaking and volunteer-driven initiatives
The foundation emphasizes supporting causes in communities where Ulster Savings Bank operates, with particular attention to initiatives where bank employees are directly engaged.
Grantmaking
The foundation appears open to new applicants, with approximately 12% of new applicants funded based on recent data.
Grant Range
s and Activity:**
Average Grant
amount: approximately $15
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Geographic Focus
Where this funder awards grants
The foundation primarily funds initiatives in New York, with particular concentration in:
- Kingston
- Poughkeepsie
- New York City
- Hudson Valley region
The foundation also supports organizations in Connecticut, Florida, Pennsylvania, and Washington, D.C.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
Assets and Revenue (2023):
- Total Assets: $6,135,513
- Total Revenue: $507,054
- Total Expenses: $283,712
- Total Liabilities: $0
- Expense Ratio: 56.0%
Cumulative Impact: Since the foundation's formation in 2001, the bank and its foundation have donated over $15 million to the community.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $6,421,342 | $6,135,513 | $5,318,286 |
| Revenue | $849,352 | $507,054 | $399,046 |
| Expenses | $366,369 | $283,712 | $269,277 |
| Qualifying Distributions | $361,492 | $283,712 | $257,662 |
| Net Investment Income | $849,352 | $307,054 | $249,046 |
| Distributable Amount | $302,135 | $275,858 | $270,165 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 1 recipients in 2024
Grant Size Distribution
201 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
- Joe Ely — Chair
- John Finch — Executive Vice President/Executive Director
- Samantha Awand-Gortel — Foundation representative (involved in grant presentations)
Board members serve without compensation.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Michelle Rider | Chair/DIRECTOR | 1 | — |
| MIKE TURTURRO | Director | 1 | — |
| William Calderara | director | 1 | — |
| CONNIE HARKIN | Director | 1 | — |
| Maureen Halahan | DIrector | 1 | — |
| BUD WALKER | Director/Vice Chair | 1 | — |
| John Finch | Executive director/Director | 1 | — |
| Mike Janasiewicz | Secretary/Director | 1 | — |
| James Cotter | Treasurer/director | 1 | — |
Recent News & Activity
Recent developments and announcements
The foundation continues active grantmaking to support education and community services throughout its service areas. Recent grant announcements demonstrate ongoing support for:
Celebrating Community Support: Ulster Savings Charitable Foundation AwardsArts and outdoor education programs serving youth
Food security and social services
Community-based nonprofits in the Hudson Valley region
Ulster Savings Charitable Foundation Awards Four Grants - Hudson Valley PressThe foundation maintains an active grant cycle and regularly awards funds to vetted nonprofit organizations aligned with its focus areas.
Celebrating Community Support: Ulster Savings Charitable Foundation AwardsSubject Areas
Focus areas based on grantmaking activity
Related Funders
Similar funders by location and focus area
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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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