How the NSB Foundation Approaches Philanthropy in Vermont

A corporate funder with a local focus and targeted focus areas, the Northfield Savings Bank Foundation (NSB Foundation) has been in operation since 2000 and is part of the bank's commitment to give back 10% of yearly earnings to the community. This bank is based in Barre, Vermont and also hosts an accessible donation program that Vermont grantseekers may be interested in.

Funding interest areas

The NSB Foundation aims to improve outcomes for people in Vermont by funding programs for financial literacy, at-risk youth and education. It is specifically interested in awarding grants to help youth succeed in high school and post-secondary education while strengthening Vermont families. Other interests include helping underserved local residents start and own businesses and expanding access to mental health and substance abuse counseling for teens and young adults.

Meanwhile, the foundation provides tuition assistance to educators in Vermont to teach financial literacy lessons at statewide high schools. An overall theme of its grantmaking is improving opportunities for self-sufficiency in central Vermont and Chittenden County.

Recent foundation giving

The NSB Foundation publicly announces community partnerships and financial support. Recent grantees include the Lund Family Center, the Boys & Girls Club of Burlington, Mercy Connections, Spectrum Youth and Family Services, and the Center for Financial Literacy at Champlain College. The foundation has funded local initiatives at Vermont Afterschool and the Community College of Vermont to support youth participation and increase employment opportunities. The Champlain Valley Office of Economic Opportunity and Capstone Community Action has also received NSB Foundation grants to offer financial literacy workshops, personal financial counseling, credit coaching and budgeting education.

Community giving program requests

Although the NSB Foundation does not accept unsolicited grant requests, there is still an accessible opportunity affiliated with the bank. Northfield Savings Bank has a community giving program that takes donation requests every quarter. Instead of paying dividends to shareholders, the bank donates to local nonprofits — with approximately $500,000 going to over 100 community organizations in a recent year.

The community giving program outlines its donation guidelines on its website and has seven categories for giving, which are broader than the NSB Foundation’s traditional giving areas:

Human services
Education
Job development
Housing
Programs for at-risk or low to moderate-income individuals and families
Performing arts and cultural activities
Environmental and preservation efforts

These grants are typically between $500 and 2,000, and the bank also donates used office and computer equipment to local community groups. The application deadlines are the last days of December, March, June and September. Meanwhile, individual branch donations, an employee matching program, the Northfield Savings Bank Founders Award and the Northfield Savings Bank/Norwich University Scholarship provide further opportunities for organizations and students.

You can read more about this funder in IP’s full profile of the NSB Foundation and Northfield Savings Bank, which is part of our Vermont grantmaking guide.

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