First County Bank Foundation

First County Bank Foundation Donates $80,500 to Stamford Nonprofits

The First County Bank Foundation recently distributed a total of $80,500 in grants to 11 nonprofits in Stamford benefiting youth, employment, education and housing.

“For New Neighborhoods, this is the 10th consecutive year the First County Bank Foundation has awarded grant money to this worthy organization,” said Rey Giallongo, president of the foundation and chairman and CEO of First County Bank. New Neighborhoods has received $170,000 in grant money since the bank created its foundation in 2001.

Many of the other nonprofits are also prior multi-year recipients including Jewish Family Services, Laurel House, Literacy Volunteers, Mill River Collaborative, Rebuilding Together and the Salvation Army.

Established in 2001 in honor of the bank’s 150th anniversary, the First County Bank Foundation was created to distribute funds annually to nonprofit organizations that support community and economic development for children and families. As a mutual bank with no shareholders, First County Bank considers contributions made by the foundation a means of paying dividends back to the local communities it serves. Through 2010, the foundation has been able to award 426 grants totaling more than $4 million to various community organizations.

To be eligible for First County Bank Foundation grants, organizations must have nonprofit tax exempt status under section 501(c)(3) of the Internal Revenue Code; be located in Stamford, Darien, Greenwich, New Canaan, Norwalk or Westport; have community support; address community needs; have measurable outcomes; and demonstrate fiscal and administrative responsibility. Special consideration is given to those agencies or programs benefiting low to moderate income populations.

Some additional information on the Stamford-based organizations that received First County Bank Foundation grants this year is available on the First County Bank Foundation site at http://www.firstcountybank.com/press-releases/0.

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