EIN 30-0308972

American Savings Foundation

IRS 501(c) type
501(c)(3)
Num. employees
4
Year formed
2005
Most recent tax filings
2022-12-01
NTEE code, primary
Description
The American Savings Foundation is a private foundation that provides direct support for youth programs in New Britain, CT. The foundation supports local after school programs, and grantees include the YWCA of New Britain. Last year, the foundation made 632 grants.
Total revenues
$22,586,304
2022
Total expenses
$4,757,974
2022
Total assets
$80,897,730
2022
Num. employees
4
2022

Program areas at American Savings Foundation

The American Savings Foundation operates the robert t. kenney scholarship program, which in 2022 distributed $722,115 in scholarships for 437 individual students. The Foundation has significant involvement in the program and provides additional support and guidance to scholarship applicants and recipients, such as advice on applying for financial aid and other available scholarships. In 2021, the Foundation added a scholar assistance program, in partnership with wheeler, to provide access mental health resources for our scholars. The Foundation supports a paid summer internship program, providing grant funding to local nonprofits for career-oriented internships, which are open to recipients of the Foundation's scholarship. Total internship grants in 2022 were $75,276.
As part of the American Savings Foundation support for local after school programs in the city of new britain, ct, the Foundation provides and facilitates access to a common platform for tracking program attendance. This system, cayen afterschool, is used by all the after-school programs funded by the Foundation. The platform is also used for summer enrichment programming hosted by the consolidated school district of new britain, which operates in partnership with local youth programs. Foundation staff provides training to current and new users of the system and helps support accurate reporting and analysis of the data. Over the years, the system has allowed each individual agency to significantly improve program attendance reports and allows the Foundation to track and measure the impact of after school programming. It also saves each agency the individual cost of acquiring and supporting an attendance tracking system. In addition, the Foundation provides direct support for shared tra

Grants made by American Savings Foundation

GranteeGrant descriptionAmount
Human Resources Agency of New Britain (HRA)Capital Grants - Relocation of Hra New Britain Food and Resource Center$200,000
Prudence Crandall Center (PCC)Capital Grants - Hvac and Security System Upgrades$165,000
Friendship Service CenterProgram Grants - Hope Connection Center 2022-23$100,000
...and 104 more grants made totalling $1,956,734

Personnel at American Savings Foundation

NameTitleCompensation
Maria A FalvoPresident$224,531
Maria SanchezDirector of Grantmak$153,887
Catriona HorstmannManager$54,308
Diane DunnAssistant Secretary$63,120

Financials for American Savings Foundation

RevenuesFYE 12/2022
Total grants, contributions, etc.$1,000
Investment income and dividends$16,426
Net rental income$0
Net gain from sale of non-inventory assets$22,564,503
Gross sales of inventory$0
Miscellaneous revenues$4,375
Total revenues$22,586,304

Form 990s for American Savings Foundation

Fiscal year endingDate received by IRSFormPDF link
2022-122023-07-11990PFView PDF
2021-122022-06-29990PFView PDF
2020-122021-06-29990PFView PDF
2019-122021-06-09990PFView PDF
2018-122019-07-24990PFView PDF
...and 7 more Form 990s

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Data update history
August 22, 2023
Updated personnel
Identified 3 new personnel
August 19, 2023
Used new vendors
Identified 1 new vendor, including
August 14, 2023
Posted financials
Added Form 990PF for fiscal year 2021
October 2, 2022
Used new vendors
Identified 1 new vendor, including
April 9, 2022
Posted financials
Added Form 990PF for fiscal year 2020
Nonprofit Types
Grantmaking organizationsPrivate foundationsPrivate non-operating foundationsCharities
Issues
No issues found
Characteristics
Provides grantsState / local levelTax deductible donations
General information
Address
1 Liberty Sq 1st Floor
New Britain, CT 06051
Metro area
Hartford-East Hartford-Middletown, CT
Website URL
asfdn.org/ 
Phone
(860) 827-2556
IRS details
EIN
30-0308972
Fiscal year end
December
Taxreturn type
Form 990-PF
Year formed
2005
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
T20: Private Foundations
NAICS code, primary
813211: Grantmaking Foundations
Parent/child status
Independent
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