Belmont Savings Bank Foundation Announces New Charitable Giving Program
WATERTOWN - The Belmont Savings Bank Foundation today announced a $30,000 grant competition as part of its charitable giving initiative in Watertown. Local residents will nominate charities that will then be eligible for a donation based on voting.
Through the initiative, the Belmont Savings Bank Foundation will invest $10,000 into three programs located in Watertown. Applications should include efforts for health, education, affordable housing or youth programs. The nomination deadline is May 20, 2015.
Following May 20, all approved organizations will have a 20-day period to drive voting which will take place on the Foundation website.
“I am very proud to announce this new program. Its goal is to support the mission of the Foundation,” said Robert Morrissey, Chairman of the Board of Directors of Belmont Savings Bank as well as the Belmont Savings Bank Foundation. “This charitable giving initiative reflects the Foundation’s belief in investing in local neighborhoods and we encourage residents to support and vote for the organizations they feel make the greatest impact in their community.”
During the initial round, Watertown charitable organizations will have until May 20th to submit an application after being nominated. Subsequently, eligible groups can encourage supporters that live in Watertown to vote once per device on the Belmont Savings Bank Foundation website, choosing their preferred recipient. After 20 days, all votes will be tallied to identify the top three nominated charitable organizations that will then each receive a $10,000 donation.
“As a community member who sits on the Foundation board, I am excited about this program” said Pat Brusch, Belmont Savings Bank Foundation Treasurer, and local resident. “Watertown is a wonderful town and by asking residents for their input, we hope to identify the organizations which make a demonstrable impact in their lives.”
Nominations must be an eligible 501(c)(3) in Watertown, and the use of funds from the Foundation must be dedicated to a specific program that occurs in Watertown and primarily benefits Watertown residents.
The role of the Belmont Savings Bank Foundation is to support not-for-profit groups, institutions, schools and other organizations as a way of adding to the quality of life for people living in the communities in which Belmont Savings Bank serves. Since 2012, the Foundation has contributed $470,500 to local groups in the Greater Boston area.
The initial deadline for nominations is May 20, 2015. For questions about the program or the nomination process, please visit www.belmontsavingsfoundation.com.