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American Savings Foundation Inc

Annual Giving
$3.2M
Grant Range
$0K - $0.0M
Decision Time
3mo

Quick Stats

  • Annual Giving: $3,214,766 (2023)
  • Total Assets: $98,115,541
  • Success Rate: Not publicly disclosed
  • Decision Time: Quarterly board meetings (3-4 months typical)
  • Grant Range: $250 - $5,000+ (varies by program type)
  • Geographic Focus: 64 towns in Connecticut (core focus: New Britain and Waterbury)

Contact Details

Address: 1 Liberty Square, First Floor, New Britain, CT 06051

Phone: (860) 827-2556

Email: info@asfdn.org (general inquiries) | grants@asfdn.org (grant-specific)

Website: www.asfdn.org

Office Hours: Monday - Friday, 8:00 am - 4:30 pm

Grants Portal: https://www.grantinterface.com/Home/Logon?urlkey=asfdn

Key Staff:

  • Maria A. Falvo, President & CEO: mfalvo@asfdn.org, (860) 827-2572
  • Maria Sanchez, Director of Grantmaking & Community Investment
  • Camille Thomas, Program Officer - Grants & After School: cthomas@asfdn.org
  • Jim Williams, Program Officer - Grants & Communications: jwilliams@asfdn.org, (860) 357-2652

Overview

Established in 1995, the American Savings Foundation is an independent charitable foundation with total assets of approximately $98 million and annual giving of over $3.2 million. Since formation, the foundation has awarded over $26 million in grants and scholarships to Connecticut communities. The foundation serves 64 towns across Connecticut with a core geographic focus on New Britain and Waterbury. As a broad-based funder, the foundation emphasizes support for children, youth, and families across three priority areas: Education, Human Services, and Arts & Culture. The foundation's strategic approach focuses on direct service programs that help those with the highest need, and has recently enhanced strategies to amplify support for college and career readiness for youth. The foundation operates both a substantial grant program for nonprofit organizations and the largest independent college scholarship program from a single source of funds in Connecticut, awarding nearly 400 scholarships annually.

Funding Priorities

Grant Programs

Program Grants

  • Geographic Focus: New Britain and Waterbury (primary)
  • Amount: Varies (not publicly specified, likely above $5,000)
  • Purpose: Direct services making measurable impact for highest-need populations
  • Deadlines: Two cycles annually - January 29 and July 23
  • Separate deadlines for school-year programs (April 23) and summer programs (January 29)
  • Application: Online via Grants Portal

After School Grants

  • Geographic Focus: New Britain and Waterbury
  • Purpose: High-quality after school programs meeting best-practice standards
  • Application: Online via Grants Portal

Community Grants

  • Geographic Focus: All 64 towns served, including small nonprofits in New Britain/Waterbury with budgets under $250,000
  • Amount: $250 - $5,000
  • Limit: One Community Grant per agency per calendar year
  • Deadline: September 30 (single annual review cycle, decisions in November)
  • Application: Online via Grants Portal

Capital Grants

  • Geographic Focus: New Britain and Waterbury (primary)
  • Amount: Typically up to $10,000 (up to $5,000 for communities outside New Britain/Waterbury via Community Grants)
  • Purpose: One-time capital needs essential to direct program services
  • Process: Two-step (Letter of Intent accepted on rolling basis, then invitation to full application)
  • Recommendation: Contact Maria Falvo well in advance of proposed project date

Priority Areas

Education

  • College and career readiness for youth (enhanced strategic focus)
  • After school programs
  • STEM and work-learning experiences
  • Educational enrichment

Human Services

  • Mental health services
  • Food and energy assistance
  • Career training and economic self-sufficiency
  • Services for individuals with disabilities
  • Programs addressing homelessness and basic needs

Arts & Culture

  • Arts enrichment in schools and community
  • Museum education programs
  • Community arts access

Special Emphasis: Children, youth, and families, particularly those with highest need and/or at greatest risk

What They Don't Fund

  • Private foundations
  • Political advocacy or lobbying
  • General operating support
  • Schools, universities, or colleges (primary, secondary, or higher education institutions)
  • Municipal services
  • Annual campaigns or fundraising events
  • Endowment funds
  • Religious institutions (exceptions for non-sectarian community activities)
  • Individuals (except through scholarship program)
  • Sports teams or tournaments
  • Event sponsorships
  • Projects already completed
  • Government entities

Governance and Leadership

Board Leadership:

  • Charles J. Boulier III, Chairman
  • Maria A. Falvo, President & CEO (also serves as Board Chair)

Board of Directors: Maria S. Gustin, James W. Little, Artila Tasho, Harry N. Mazadoorian, Sheri C. Pasqualoni, Danerick Peralta, Hollie Randall, Abigail Woodhouse

Staff Team:

  • Maria A. Falvo, President & CEO
  • Maria Sanchez, Director of Grantmaking & Community Investment
  • Heather Hokunson, Senior Program Officer for Scholarships
  • Noreen Cannamela, Senior Manager of Operations & Finance
  • James Williams, Program Officer - Grants & Communications
  • Camille Thomas, Program Officer - Grants & After School

Leadership Perspective:

From the December 2022 letter from Chairman and President/CEO: "As a broad-based funder, the American Savings Foundation is uniquely positioned to address interconnected issues that span across our funding areas of Education, Human Services, and the Arts." The leadership emphasized adapting to evolving community needs exacerbated by challenges including mental health needs, food and energy assistance, and the importance of career training and economic self-sufficiency.

The foundation stated: "We will research and develop enhanced strategies to amplify our support for college and career readiness for youth, especially in our core funding areas of New Britain and Waterbury."

Application Process & Timeline

How to Apply

Program Grants and After School Grants:

  • Submit complete application via online Grants Portal: https://www.grantinterface.com/Home/Logon?urlkey=asfdn
  • Use foundation's provided budget template
  • Two application deadlines per year: January 29 and July 23
  • Special deadlines: School-year programs (April 23), Summer programs (January 29)

Community Grants:

  • Submit via online Grants Portal
  • Single annual deadline: September 30
  • Applications reviewed in November

Capital Grants:

  • Step 1: Submit Letter of Intent (accepted on rolling basis)
  • Step 2: If selected, invited to submit full application via Grants Portal
  • Recommended: Contact President & CEO Maria Falvo (mfalvo@asfdn.org, 860-827-2572) well in advance of proposed project date

Pre-Application Guidance: The foundation welcomes pre-application contact via email (grants@asfdn.org), phone (860-357-2652), or in-person appointment to discuss potential grants.

Decision Timeline

Board Meetings: Quarterly - March, June, September, and December

Review Process:

  1. Foundation staff assesses requests for completeness and eligibility
  2. Staff may contact applicants for additional information during review
  3. Volunteer committee reviews applications and makes recommendations
  4. Board of Directors makes final grant award decisions at quarterly meetings

Typical Timeline: Decision made at the upcoming board meeting after complete application submission (approximately 3-4 months depending on submission timing relative to board meetings)

Community Grants: Applications reviewed once per year in November following September 30 deadline

Success Rates

Success rate statistics are not publicly disclosed. The foundation distributes approximately $3.2 million annually in grants and scholarships combined.

Reapplication Policy

General Policy:

  • Grants reviewed on year-by-year basis; no multi-year commitments
  • Renewals are not automatic
  • Interim report may be required for renewed support

Community Grants Specific:

  • Can reapply for up to 3 consecutive years

Critical Requirement: New grant requests will be held until the final report from any previous grant has been submitted. Final reports are due one year after grant award or project completion.

Application Success Factors

What the Foundation Values:

  1. Focus on Direct Impact: The foundation emphasizes "direct service programs that help those with highest need." Applications should clearly demonstrate how funding will directly benefit program participants, particularly children, youth, and families.

  2. Clear Connection to Operating Budget: From FAQ guidance - "Explain how the funding connects to your overall operating budget" and demonstrate the program's sustainability.

  3. Measurable Outcomes: The foundation looks for programs where "our funding can make a measurable impact." Include specific metrics and evaluation methods.

  4. Administrative Efficiency: While 10-15% administrative overhead is acceptable, the foundation wants to see that the majority of funding goes directly to program services.

  5. Completing Previous Commitments: Organizations must submit final reports from previous grants before new applications will be reviewed. This signals the importance of follow-through and accountability.

  6. Budget Flexibility: The foundation advises applicants to "be prepared to modify your budget if we grant less than you have requested," indicating willingness to work with the foundation on funding amounts.

Recent Funding Examples:

Organizations recently supported include:

  • Boys & Girls Club of New Britain (youth engagement for 900+ youth annually)
  • Junior Achievement in New Britain (reaching 5,000+ youth in public schools)
  • Human Resources Agency (financial literacy for high school students)
  • Hope Connection Center (supporting individuals/families facing homelessness)
  • New Britain Museum of American Art (children's art education programs)
  • CPEP Ventures (STEM work-learning experiences)
  • CCARC (serving 200+ individuals with intellectual disabilities)
  • Brass City Harvest and New Britain ROOTS (nutrition, cooking classes, food security)

Language the Foundation Uses:

  • "Measurable impact"
  • "Highest need" and "greatest risk"
  • "Direct services"
  • "College and career readiness"
  • "Interconnected issues"
  • "Quality of life"

Process Tips:

  • Review the foundation's grant history before applying to understand funding patterns
  • Staff may contact you during review for additional information - be responsive
  • Consider pre-application contact with program officers to discuss fit
  • Ensure all previous reporting obligations are met before submitting new requests
  • Only submit one program per agency per year for Program Grants

Key Takeaways for Grant Writers

  • Geographic targeting is critical: Foundation has clear tiers - New Britain and Waterbury receive the largest grants (Program, After School, Capital), while the other 62 towns are served primarily through smaller Community Grants (up to $5,000).

  • Direct service emphasis: The foundation repeatedly emphasizes funding programs providing direct services to those with highest need. Avoid applications focused on capacity building, general operations, or indirect services.

  • Timing matters: With only quarterly board meetings, applications submitted just after a meeting may wait 3-4 months for decisions. Plan ahead and submit strategically relative to board meeting schedule (March, June, September, December).

  • One shot per year: The foundation typically funds only one program per agency per year for Program Grants, so choose your strongest program when applying.

  • Reporting compliance unlocks future funding: Failure to submit final reports will block consideration of new applications. This is a firm policy that demonstrates the foundation values accountability.

  • Pre-application contact welcomed: The foundation encourages discussion before applying via email, phone, or appointment. Use this opportunity to test fit and refine your approach.

  • Strategic focus on youth transitions: The foundation's enhanced emphasis on "college and career readiness for youth" represents a current strategic priority, particularly in New Britain and Waterbury. Applications addressing this area may receive favorable consideration.

References

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