The Robert F. Stoico / FIRSTFED Charitable Foundation

Quick Stats

Annual Giving: $852,700 - $910,762 (varies by year)
Total Assets: $32.4 million
Grant Range: $5,000 - $1,000,000 (typical range $100,000 - $400,000)
Average Grant Size: ~$14,500
Number of Grants: 38-42 awards annually
Geographic Focus: Southeastern Massachusetts and Rhode Island
Decision Time: Not publicly documented
Application Method: Online application portal available

Contact Details

Website: stoicofirstfed.org
Phone: (508) 235-1368
Email: stacie@stoicofirstfed.org
Address: P.O. Box 438, Swansea, MA 02777-0438

Overview

The Robert F. Stoico / FIRSTFED Charitable Foundation was established in 1997 in Massachusetts as part of the conversion of First Federal Savings Bank of America to a public company, with active grantmaking beginning in 1998. Founded by Robert F. Stoico, the longtime Chairman, President, and CEO of FIRSTFED America Bancorp Inc., the foundation has given and pledged over $35 million to organizations across southeastern Massachusetts and Rhode Island since its inception. With total assets of approximately $32.4 million, the foundation distributes approximately $850,000 - $900,000 annually through 38-42 grants.

The foundation was created to reflect Stoico's belief that community banks play an integral role in local economic success and his dedication to improving quality of life through charitable giving. Mr. Stoico passed away in January 2025, but the foundation continues his philanthropic legacy under new leadership. The foundation employs two staff members and maintains a focused geographic scope on the communities that contributed to the success of FIRSTFED America Bancorp during its years of operation.

Funding Priorities

Grant Programs

The foundation provides grants across several program areas:

Capital Grants: Large-scale projects such as library construction and learning centers ($1,000,000)
Program Support: Funding for ongoing organizational programs ($5,000 - $400,000)
Technology/Equipment: Support for facilities and equipment like computer labs

Recent notable grants include:

Signature Healthcare Corporation: $400,000
Boys and Girls Clubs of Metro South: $150,000
Bristol Community College (Library Learning Commons): $1,000,000
Fall River Historical Society: $60,000
UMass Dartmouth (Grand Reading Room and scholarships): $1,000,000

Priority Areas

Affordable Housing: Housing opportunities for low-income or indigent citizens
Job Development: Programs particularly for low-income, immigrant, and student communities
Education: Educational programs at all levels, with notable support for community colleges and universities
Healthcare: Accessible healthcare initiatives for underserved populations
Arts and Culture: Programs that benefit the public or traditionally underserved communities
Community Services: YMCA facilities, Boys and Girls Clubs, food banks, veterans associations

What They Don't Fund

Specific exclusion criteria are not publicly documented on the foundation's website. However, based on their stated priorities, the foundation focuses on:

501(c)(3) nonprofit organizations
Organizations serving southeastern Massachusetts and Rhode Island
Programs aligned with their five priority areas

Governance and Leadership

Current Leadership (as of 2025)

Dr. Paul Raymond - President, Treasurer, Chairman, and Director (started January 2025)
Cecilia R. Viveiros - Corporate Secretary and Executive Director (longtime staff member and Bristol Community College alumna)
Stacie C. Hess - Corporate Secretary, Executive Director (started February 2025)
Gilbert Oliveira - Director (started March 2025)

Founder

Robert F. Stoico (deceased January 2025) - Founder, former President, Treasurer, Chairman, and Director. Mr. Stoico served as Chairman, President, and CEO of FIRSTFED America Bancorp Inc. for nearly 30 years, growing the company from a small federal savings and loan to a multi-billion-dollar financial services company with over 40 locations and nearly 1,000 employees. Born the oldest of seven children to Italian immigrant parents in the Boston area, Stoico was a Boston College graduate and Certified Public Accountant who worked at KPMG Peat Marwick before joining FIRSTFED.

The foundation reflects his belief that "community banks play an integral role in local economic success" and his dedication to improving quality of life through charitable contributions.

Application Process & Timeline

How to Apply

The foundation maintains an online application portal accessible through their website at stoicofirstfed.org. The specific application requirements and procedures are available through the portal.

Recommended Steps:

Visit the foundation website and review eligibility requirements
Ensure your organization serves southeastern Massachusetts or Rhode Island
Confirm alignment with one or more of the five priority areas
Complete the online application through their portal
Contact the foundation directly at (508) 235-1368 or stacie@stoicofirstfed.org with questions

Decision Timeline

Specific decision timelines are not publicly documented. As a private foundation making 38-42 grants annually, decisions may take several weeks to months depending on the timing of board meetings.

Success Rates

With total assets of $32.4 million and approximately 40 grants made annually, the foundation has capacity for selective grantmaking. No public data on application volumes or success rates is available.

Reapplication Policy

No publicly documented reapplication policy. Organizations that have previously received grants (such as Bristol Community College and UMass Dartmouth) have received multiple awards over time, indicating repeat funding is possible for strong performers.

Application Success Factors

Based on the foundation's documented giving patterns and priorities:

Strong Alignment Indicators:

Direct service to low-income, immigrant, or student populations in southeastern Massachusetts or Rhode Island
Capital projects that create lasting community infrastructure (libraries, learning centers, technology labs)
Programs that enhance access to education, healthcare, or economic opportunity
Organizations with proven track records of community impact

Examples of Funded Projects:

The Boys and Girls Club of Fall River received the foundation's first grant in 1998 to create the Stoico/FIRSTFED Computer Lab, providing state-of-the-art equipment and tutoring
Bristol Community College received $1 million for their Fall River Campus business and technology center (2007) and another $1 million for the Attleboro Campus Library Learning Commons (recent)
UMass Dartmouth received $1 million for scholarships and the Grand Reading Room in the Claire T. Carney Library (2007)
The Stoico/FIRSTFED YMCA in Swansea operates on 36 acres with extensive facilities

What the Founder Valued: Mr. Stoico demonstrated "a unique ability to strategize and bring people and organizations together for the greater good." He believed in the transformative power of education and made creating access to educational opportunities a priority. He recognized that many people rely on local institutions of higher education to further their careers and improve their life trajectories.

Key Takeaways for Grant Writers

Geographic alignment is critical - Only organizations serving southeastern Massachusetts or Rhode Island are funded. This is a strict requirement given the foundation's origins in FIRSTFED America Bancorp's service area.
Education is a clear priority - The foundation's largest gifts ($1 million each) have consistently gone to educational institutions. Community colleges and universities have received substantial support.
Capital projects receive significant support - Major infrastructure projects like learning centers, technology labs, and library facilities have received the largest grants.
Demonstrate community impact - The founder believed strongly in community-focused giving. Show how your project will benefit local individuals and families.
Long-term relationships matter - Organizations like Bristol Community College and the Boys and Girls Club have received multiple grants over the years. Strong performance can lead to repeat funding.
Alignment with underserved populations - Programs serving low-income, immigrant, and student communities align with the foundation's stated priorities.
Contact the foundation directly - With only 40 grants made annually and a small staff, direct communication with the Executive Director may help clarify fit before applying.

References

Research compiled December 2025