American Savings Foundation approves funding to make best impact in midst of COVID-19 crisis

Published on Friday, 3 April 2020 14:06
Written by Ciara Hooks

@Hooks_Ciara

NEW BRITAIN – The American Savings Foundation board of directors met recently in the midst of the COVID-19 public health crisis and approved strategic decisions to help ensure funding will make the greatest impact to different organizations and programs in a time of need.

The Foundation approved $288,500 in Program Grants and Community Grants to support a wide range of nonprofit and community partners. In keeping with emerging best practices, these grants were awarded with as few restrictions as possible, and in many cases can be used to support general operations.

“These proposals were already submitted, reflecting specific program goals for 2020 – but circumstances have changed,” said Maria Sanchez, Director of Grantmaking and Community Investment. “We understand the impact for each nonprofit is unique, and we will work with each agency to provide as much flexibility as we can.”

The board also decided to approve $198,500 for critical summer programs for youth. These programs include summer youth employment and academic enrichment programs.

“It’s too early to know exactly what the summer will hold. But if these programs can run, they will be needed more than ever,” Sanchez said. “We want funding to be available so programs will be ready to move forward - supporting and engage youth during those critical summer months – if the health situation allows.”

To continue to support the large number of after-school programs, which are being disrupted because of social distancing, the Foundation relaxed restrictions on funds remaining for these programs for the 2019-2020 academic year.

“These agencies are doing everything they can to stay engaged and continue to support their students, staff and the community,” said Maria Falvo, President & CEO. “It’s about creating flexibility for the agencies so they can put strategies in place that support their best efforts for the remainder of this school year.”

The American Savings Foundation is currently closed to the public in support of social distancing efforts, but staff is continuing to work remotely and has full access to phones and email.

Any nonprofit agencies with questions or concerns about a current or new award may call the director of grantmaking and community investment, Maria Sanchez, at (860) 612-3375 or msanchez@asfdn.org. The Foundation has also updated information on its website at www.asfdn.org .



Posted in New Britain Herald, New Britain on Friday, 3 April 2020 14:06. Updated: Friday, 3 April 2020 14:08.