The Savings Bank Charitable Foundation recently presented a $3,000 donation to the Money Management Program of Mystic Valley Elder Services (MVES) as part of the Foundation’s 25th distribution of funds. The Money Management Program offers a variety of services ranging from complete oversight of a consumer’s finances to assistance with balancing a checkbook, all free of charge. Without the program, many individuals would face food insecurity, financial exploitation, eviction and premature institutionalization.
MVES is one of several local nonprofit organizations that received a financial award from The Savings Bank Charitable Foundation. The Foundation, which was established in 1997 through an initial endowment of $550,000 from The Savings Bank, presented a total of $65,975 to 18 nonprofit organizations during the 25th distribution of funds. Over the past 25 years, the Foundation has donated more than $823,447 to organizations in local communities.
According to the Foundation, 20 organizations presented applications totaling more than $92,475. Awards were granted based on several factors, including intended use of the funds by the organization and the organization’s status as a publicly supported charity.