Union Savings Bank Foundation Inc logo

Union Savings Bank Foundation Inc

Private foundation · Grantmaker Danbury, CT EIN: 06-1508286 Website

Union Savings Bank Foundation Inc is a private foundation based in Danbury, Connecticut. Established in 1998, it provides grants to nonprofit organizations for programs that educate, transform, and enhance communities served by the bank.

Key facts about Union Savings Bank Foundation Inc

In short: Union Savings Bank Foundation Inc gave $718K across 145 grants in 2025 (avg $5K), mostly in Connecticut. Source: 2025 IRS Form 990-PF.

EIN
06-1508286
Latest 990 filing
Form 990-PF, 2025
Annual giving (2025)
$717,625
Grants made (2025)
145
Average grant
$4,949
Median grant
$4,000
Total assets
$14,112,236
Primary geography
Connecticut (92% of itemized 2025 grant dollars)
How to apply
The foundation’s 2025 filing says applications are available through the bank and may be emailed to the foundation or mailed. Full details ↓
Deadline
The 2025 filing lists June 1 through August 31.

Data from IRS Form 990-PF, 2025; updated September 2026. 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

$14.1M

+15.1% YoY

Annual Giving

$718K

+23.3% YoY

Grant Count

145

+14400.0% YoY

Avg Grant Size

$5K

-99.1% YoY

Under IRS private-foundation payout rules, Union Savings Bank Foundation Inc reported a distributable amount of $613K for 2025 — the minimum it must pay out in qualifying distributions.

How Union Savings Bank Foundation Inc gives

  • Giving grew 44% from 2022 to 2025. Method
  • In 2025 it paid out 122% of its IRS minimum distribution (the 5% rule). Method

From the foundation's IRS Form 990-PF filings. Methodology.

Research compiled by Grantable AI from public sources. Last updated September 2026.

Mission & Focus Areas

The foundation says it funds programs that “educate, transform and enhance” the communities it serves. Its 2025 grant announcement described recipients as offering services in education and literacy, youth enrichment and development, the arts, health and wellness, mentorship, and support for food pantries.

Grantmaking

The 2025 filing reports 145 grants totaling $717,625. Individual grants ranged from $25 to $25,400, with a median of $4,000. The largest listed awards included $25,400 to Ann’s Place Inc., $25,225 to Junior Achievement of Greater Fairfield County, and $25,200 to Danbury Student and Business Connection. The filing lists each grant’s purpose as “exempt purposes.”

Review Cycle

The 2025 filing lists June 1 through August 31. The foundation’s website says the 2026 grant period is closed and to check back after March 1, 2027, for information about the next cycle.

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Geographic Focus

Where this funder awards grants

The foundation is based in Danbury, Connecticut. In its 2025 filing, 92% of grant dollars went to recipients in Connecticut, 4% to New York, 2% to Massachusetts, and 1% each to Georgia and Missouri. The foundation’s 2025 announcement described its awards as supporting organizations in Connecticut.

Grant Distribution by State

14states

Share of 2025 grant dollars across all 145 itemized grants.

Cities

DanburyNew MilfordTorringtonRidgefieldBrookfieldBridgeportBethelLitchfieldNorwalkNewtownMonroeBostonNaugatuckHamdenHartfordKentSouthburyStamfordWashington DepotWaterbury

Giving Over Time

Total grant dollars and number of grants per year

$0$200K$400K$600K$800K46 grants2019 34 grants2020 46 grants2021 65 grants2022 126 grants2023 1 grant2024 145 grants2025

From 2019 to 2025, annual grant giving ranged from $336K (2019) to $718K (2025). In 2025 it made 145 grants totaling $718K.

Grant Insights

How this funder distributes its grants

Top Recipients

Top 10 recipients in 2025

Ann's Place Inc: $25KAnn's Place Inc$25KJunior Achievement of Greater Fairfield County: $25KJunior Achievement of GreaterFairfield County$25KDanbury Student and Business Connection: $25KDanbury Student and BusinessConnection$25KFamilies Network of Western CT Inc: $20KFamilies Network of Western CTInc$20KReach of Western CT: $18KReach of Western CT$18KAsap: $18KAsap$18KDanbury Grassroots Academy: $16KDanbury Grassroots Academy$16KThe Center for Empowerment and Education: $16KThe Center for Empowerment andEducation$16KDanbury Youth Services Inc: $15KDanbury Youth Services Inc$15KVillage Center for the Arts: $15KVillage Center for the Arts$15K

The largest 2025 recipient was Ann's Place Inc ($25K). Together the top 10 received $193K.

Grant Size Distribution

383 grants across all recorded years

380<$50K2$50–100K$100–250K$250–500K1$500K–1M$1–5M$5M+

The most common grant size was under $50K: 380 grants of 383 (99%).

Giving History

Grant recipients and amounts by year

RecipientPurposeAmount
Ann's Place Inc Danbury, CTExempt Purposes$25,400
Junior Achievement of Greater Fairfield County Bridgeport, CTExempt Purposes$25,225
Danbury Student and Business Connection Danbury, CTExempt Purposes$25,200
Families Network of Western CT Inc Danbury, CTExempt Purposes$20,175
Reach of Western CT Brookfield, CTExempt Purposes$18,050
Asap Valley Stream, NYExempt Purposes$18,000
Danbury Grassroots Academy Danbury, CTExempt Purposes$15,500
The Center for Empowerment and Education Danbury, CTExempt Purposes$15,500
Danbury Youth Services Inc Danbury, CTExempt Purposes$15,125
Village Center for the Arts New Milford, CTExempt Purposes$15,125

Financial History

Multi-year comparison from IRS filings

Filing year Assets Revenue Expenses Grant total Grant count
2025 $14,112,236 $2,083,253 $829,857 $717,625 145
2024 $12,265,888 $1,521,938 $726,952 $581,950 1
2023 $10,465,482 $422,460 $502,090 $437,275 126
Revenue
Expenses
Qualifying Distributions
Net Investment Income
$0$1M$2M$3M2019 2020 2021 2022 2023 2024 2025
Metric202520242023
Total Assets$14,112,236$12,265,888$10,465,482
Revenue$2,083,253$1,521,938$422,460
Expenses$829,857$726,952$502,090
Qualifying Distributions$746,182$596,577$450,267
Net Investment Income$1,064,590$507,941$230,640
Distributable Amount$613,366$553,887$484,113

Data update history

When this profile's IRS filing data changed on Grantable

  1. Added Form 990-PF for fiscal year 2019 (received by the IRS August 17, 2020)
  2. Added Form 990-PF for fiscal year 2025 (received by the IRS May 14, 2026)
  3. IRS filings on file for fiscal years 2020–2024

Leadership & Key People

Leadership team and compensation from IRS filings

The 2025 filing lists Lucie H. Voves as chair; Michelle King as secretary; Paul H. Bruce as treasurer and trustee; and Chelen Reyes as president and trustee. It also lists Anthony Cirone Jr., Jennifer Ingram, TJ Oneglia, Kelly-Ann Cagianello, and Jeff McDonough as trustees. Ray Boa is listed as a trustee whose service ended in March 2025. The foundation’s website identifies Michele Bonvicini as executive director.

Union Savings Bank Foundation Inc is led by Chelen Reyes, President & Trustee on every filing since 2023; none of the 14 officers listed in 2025 report compensation.

Officers on the 2025 filing

  • Chelen Reyes

    President & Trustee

    On filings since 2023

    1 hr/week

    No compensation reported

  • Lucie H. Voves

    Chair

    Chair → Director, 2021

    Director → Chair, 2022

    On filings since 2019

    1 hr/week

    No compensation reported

  • Paul H. Bruce

    Treasurer & Trustee

    Treasurer → Treasurer & Director, 2021

    Treasurer & Director → Treasurer & Trustee, 2022

    On filings since 2019

    1 hr/week

    No compensation reported

  • John Brighenti

    Trustee

    Director → Trustee, 2023

    On filings since 2021

    1 hr/week

    No compensation reported

  • Susan Certoma

    Trustee

    Director → Trustee, 2023

    On filings since 2021

    1 hr/week

    No compensation reported

  • Ray Boa

    Trustee

    On filings since 2022

    1 hr/week

    No compensation reported

  • Jason Ginsberg

    Trustee

    On filings since 2023

    1 hr/week

    No compensation reported

  • Larry Pereira

    Trustee

    On filings since 2023

    1 hr/week

    No compensation reported

  • Jeff McDonough

    Trustee

    On filings since 2024

    1 hr/week

    No compensation reported

  • Kelly-Ann Cagianello

    Trustee

    On filings since 2024

    1 hr/week

    No compensation reported

  • Anthony Cirone Jr.

    Trustee

    New on the 2025 filing

    1 hr/week

    No compensation reported

  • Jennifer Ingram

    Trustee

    New on the 2025 filing

    1 hr/week

    No compensation reported

  • Tj Oneglia

    Trustee

    New on the 2025 filing

    1 hr/week

    No compensation reported

  • Michelle King

    Secretary

    On filings since 2022

    1 hr/week

    No compensation reported

Former officers (13)
  • Former: Cynthia C. Merkle (2019–2023) — President & Trustee · Filing note: Retired 83123
  • Former: Jeffrey B. Kilberg (2020–2023) — Trustee
  • Former: Wanda McGarry (2020–2023) — Trustee
  • Former: Heather Katz (2023) — Trustee
  • Former: Irene Dzieciaszek (2019–2022) — Trustee
  • Former: Arnold E. Finaldi Jr. (2019–2020) — Director
  • Former: Frank Rowella Jr. (2019–2020) — Director
  • Former: Jeffrey McDonough (2019–2020) — Director
  • Former: Michael R. Kaufman (2019–2020) — Director
  • Former: Frederick F. Judd (2019) — Trustee
  • Former: Jeff Levine (2019) — Chairman
  • Former: Matthew Karpas (2019) — Trustee
  • Former: Michelle Bonvicini (2019) — Trustee

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.

Contact

Application contact: Michelle Bonvicini
Mailing address: 225 Main Street, Danbury, CT 06810
Phone: (203) 830-4200
Website: https://unionsavings.com

Frequently asked questions about Union Savings Bank Foundation Inc

How much does Union Savings Bank Foundation Inc give each year?

Union Savings Bank Foundation Inc gave $718K across 145 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $582K across 1 grant.

What is Union Savings Bank Foundation Inc's typical grant size?

Union Savings Bank Foundation Inc's median grant in 2025 was $4,000, and its average grant was $4,949, across 145 grants on its 2025 IRS Form 990-PF.

Where does Union Savings Bank Foundation Inc give grants?

Union Savings Bank Foundation Inc gives mostly in Connecticut: 92% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Danbury, CT (29 grants), New Milford, CT (12 grants), Torrington, CT (9 grants) and Bridgeport, CT (8 grants).

Who are Union Savings Bank Foundation Inc's largest grantees?

Union Savings Bank Foundation Inc's largest 2025 grantees include Ann's Place Inc ($25,400), Junior Achievement of Greater Fairfield County ($25,225) and Danbury Student and Business Connection ($25,200), according to its 2025 IRS Form 990-PF. Together they received 11% of its itemized 2025 grant dollars.

How large is Union Savings Bank Foundation Inc?

Union Savings Bank Foundation Inc reported $14.1M in total assets on its 2025 IRS Form 990-PF. It paid out $746K in qualifying distributions that year, against a required minimum of $613K (roughly 5% of its investment assets).

What does Union Savings Bank Foundation Inc fund?

The foundation says it funds programs that “educate, transform and enhance” the communities it serves. See mission & focus areas ↑

How do I apply for a grant from Union Savings Bank Foundation Inc?

The foundation’s 2025 filing says applications are available through the bank and may be emailed to the foundation or mailed. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑

What is Union Savings Bank Foundation Inc's EIN?

Union Savings Bank Foundation Inc's EIN (Employer Identification Number) is 06-1508286. 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.

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