Funder DirectoryAMERICAN SAVINGS FOUNDATION INC
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Private foundation (trust)EIN 300308972Est. 2005-05

AMERICAN SAVINGS FOUNDATION INC

NEW BRITAIN, CT 060512637

Accepts unsolicited proposals

Total Assets

$98.1M

FY 2024

Annual Giving

$3.2M

FY 2024

Grants Made

637

FY 2024

Avg Grant

$5K

FY 2024

Grant Range

Typical

Deadlines

See general explanation attachment

Applications

Programs & Activities

Program 1

$269K

The american savings foundation operates a scholarship program, which in 2024 distributed $762,070 in scholarships for 467 individual students, including students attending 2- and 4-year colleges, and vocational/technical programs. Foundation staff directly manages this program and provides significant outreach, support and guidance to scholarship applicants and recipients. Because this is a renewable scholarship for up to five years of undergraduate support, staff remains engaged with asf scholars throughout their college years, providing support and guidance as needed. Since 2021, the foundation partnered with a third-party provider to provide access to mental health resources for our scholars. We also maintain ongoing engagement with alumni through events, social media, and opportunities to volunteer with the foundation's scholarship selection committee. In addition, staff manages a paid summer internship opportunities for asf scholars. Total internship grants in 2024 were $87,386.

Program 2

$52K

As part of the american savings foundation support for local after school programs in the city of new britain, ct, the foundation is deeply engaged with the field of afterschool, both city-wide and throughout the state. Foundation staff provides direct support to after-school program providers, in addition to support for shared training and collaborative meetings, in partnership with the consolidated school district of new britain. Foundation staff also facilitates access to a common platform for tracking program attendance. This system, transact, is used by all the after-school programs funded by the foundation. Foundation staff acts as an administrator on the platform and provides support to users to ensure accurate reporting and analysis of the data. In 2024, the foundation awarded $936,210 to youth programs that take place after school and other "out-of-school time" in the summer and on weekends.

Focus Areas

Private Grantmaking Foundations

Financial Snapshot

2024 filing

Total Revenue

$5.2M

Total Expenses

$4.5M

Qualifying Distributions

$4.3M

Distributable Amount

$4.6M

Min. Investment Return

$4.7M

Undistributed Income

$3.3M

Payout rate 94%Arc chart showing what share of IRS distributable amount was paid out as qualifying distributions in the latest filing.94%

Payout rate

Qualifying distributions as a share of distributable amount.

Top Recipients

500 grants

PATHWAYSSENDEROS CENTER
$176K
3 grants
HUMAN RESOURCES AGENCY OF NEW BRITAIN
$172K
3 grants
CITY OF NEW BRITAIN
$153K
2 grants
YWCA OF NEW BRITAIN
$134K
4 grants
CENTRAL CONNECTICUT STATE UNIVERSIT
$100K
50 grants
BOYS & GIRLS CLUB OF NEW BRITAIN
$86K
5 grants
CONNECTICUT FOODSHARE
$82K
3 grants
FRIENDSHIP SERVICE CENTER
$81K
2 grants

Grant Size Distribution

500 grants

<$10K
446
grants
$10–50K
41
grants
$50–250K
13
grants
$250K–1M
$1–5M
$5M+

Geographic Focus

23 states

Connecticut
$2.9M
93% of total
Massachusetts
$72K
2% of total
New York
$67K
2% of total
District of Columbia
$15K
0% of total
Virginia
$11K
0% of total
Florida
$10K
0% of total
New Hampshire
$9K
0% of total
Rhode Island
$9K
0% of total
California
$6K
0% of total
Pennsylvania
$5K
0% of total

+13 more states

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AMERICAN SAVINGS FOUNDATION INC — Grants, Financials & Contact | Grantivo