Chelsea Groton Bank Foundation Gifted $5M Endowment, Accepting Grant Applications

Groton, CT – The Chelsea Groton Foundation was recently given a $5 million endowment from Chelsea Groton Bank. The gift, made possible through the sale of stock, was given with the intent of providing the Foundation with additional funds for the continued support of organizations that impact our region in the areas of health, human and social services; education; economic development; and arts and culture.
 
The Foundation is accepting applications for the spring grant cycle until Friday, April 21, 2017. Local and regional charitable organizations interested in applying should visit chelseagroton.com to access the fillable application and information on specific requirements.
 
“Since the Foundation was formed, we’ve supported organizations who work to lessen homelessness, alleviate hunger, treat mental health, improve economic opportunity, enhance recreational programming, and more,” said Michael Rauh, President and CEO of Chelsea Groton Bank. “Having additional funds available to award to worthy organizations is very exciting for us.  We’ve always been honored to partner with local non-profits who strive to better our community, and we look forward to supporting more organizations in more ways in the future.”
 
The Foundation accepts grant applications two times per year.  Formed in June 1998, the Foundation has, to date, awarded over $2 million in grants to hundreds of organizations located within the Bank’s market area.  Each year, Chelsea Groton Bank and the Chelsea Groton Foundation support more than 200 local organizations through monetary gifts, grants, sponsorships, scholarships and employee volunteerism. More information, including a list of last fall’s grant recipients, is available at chelseagroton.com. 

About the Chelsea Groton Foundation
The Chelsea Groton Foundation was formed in June 1998 as a Section 501(c) (3) organization. Initially endowed with a $2 million donation from Chelsea Groton Bank, and recently gifted an additional $5 million from the Bank, the Foundation has, to date, awarded over $2 million in grants to hundreds of scientific, educational and charitable organizations located within the Bank’s market area. To learn more, visit: https://chelseagroton.com/OurstrongCommunitystrong/ChelseaGrotonFoundation.aspx.
 
About Chelsea Groton Bank
Based in Groton, CT, Chelsea Groton Bank is a full-service mutually owned bank with over $1 billion in assets. Chelsea Groton Bank’s products and services include consumer banking, business banking, mortgage and business lending, cash management and investment services. With 14 branch locations throughout New London County and a Loan Production Office in Hartford County, Chelsea Groton Bank also provides online and mobile banking, 24-hour telephone banking, and nationwide ATM banking for individuals, families and businesses. To learn more, please visit chelseagroton.com. Member FDIC. Equal Housing Lender.