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Belmont Savings Bank Foundation Surpasses $500,000 in Charitable Giving

Posted on May 19th, 2015 at 12:43 PM

May 19, 2015 - Belmont Savings Bank Foundation announced today that it has surpassed $500,000 in charitable giving with its latest round of contributions to 14 local organizations. These groups received $82,000 in contributions as part of the Foundation’s quarterly giving.

Formed when the bank became a public company in October 2012, the Foundation is dedicated to community activities and the promotion of charitable causes in the communities in which Belmont Savings Bank operates. Since its creation, the Foundation has contributed $552,580 to local groups in Belmont, Cambridge, Watertown, Waltham and Newton.

“We are thrilled to announce this important milestone of the Belmont Savings Bank Foundation,” said Robert J. Morrissey, Chairman of the Board of Directors of Belmont Savings Bank as well as the Belmont Savings Bank Foundation. “The mission of the Foundation is to provide financial support to organizations in the communities we serve, particularly those committed towards education, health and human services, youth programs, and affordable housing. We are very pleased with the impact our local partners have as a result of these contributions, including this latest round of giving.”

As part of the Foundation’s latest giving, Belmont Youth Basketball Association received a $35,000 matching grant for the resurfacing of Belmont High School field house gymnasium floor. In addition, the Waltham YMCA and the West Suburban YMCA each received $10,000 for their youth programming, which will enable children and families to attend high quality YMCA programs such as teen leaders club, summer day camp, preschool and licensed after school care, and aquatics.

Additional grant recipients include:

  • African Cultural Services, a Watertown child care program committed to the beauty of African and Haitian culture through dancing, storytelling, and performance, for the purchase of new instruments.
  • Alzheimer's Association, local chapter, for a 2015 water stop sponsorship at their Walk to End Alzheimers in September.
  • Bais Yaakov, which seeks to provide comprehensive Judaic studies and secular education, for their performing arts program.
  • Belmont High School for their Educational Speaker Series beginning in September.
  • Family Access of Newton received a matching grant for their 2015 Spring Annual Appeal.
  • Friends of Belmont Wrestling received funding for their 2015 scholarship & Brendan Grant Memorial wrestling tournament.
  • JDRF received a sponsorship for their Kids Walk to Cure Diabetes.
  • Metro West Collaborative Development for their housing programs.
  • Springwell for their money management program to assist seniors and individuals with disabilities with organizing bills, providing guidance on financial scams, learning budgeting skills, and relieving anxiety over financial matters.
  • Watertown High School Robotics Program to support their team.
  • Women of Means for nursing care at their Waltham Shelter.

“With these contributions, our Foundation continues to ensure community organizations in our footprint will provide high quality services to many of this region’s residents," said Bob Mahoney, President and CEO of Belmont Savings Bank and an officer on the Belmont Savings Bank Foundation. “This is a very worthy group of recipients, and it is our pleasure to support them with these grants."

Previously the Foundation successfully pledged a $200,000 matching grant to preserve the historic Underwood Pool in Belmont.

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