Paying Dividends

For ten years since its founding, the First County Bank Foundation has distributed grant funds totaling more than $4 million to area charities that support community and economic development for children and their families.

This year more than $300,000 went to over thirty Stamford nonprofits: CTE Inc., buildOn, Domus, ARI of Connecticut, the Jewish Community Center, Literacy Volunteers, Shelter for the Homeless, SoundWaters, St. Luke’s LifeWorks, Starfish Connection and the Center for Sexual Assault Crisis Counseling and Education among them. Each of these received grant amounts ranging from $5,000 to $10,000.

“These are some of the important organizations in town helping families cope during these difficult times,” says Katherine Harris, the foundation’s vice president. “We have donated to these organizations in the past and have seen the positive results of their hard work.”

Among the repeat grant recipients is New Neighborhoods Inc., an agency that builds new homes, refurbishes existing ones and manages rental properties for low- and moderate- income households. Since the foundation’s establishment in 2001, New Neighborhoods has received $170,000; this year the $20,000 it was awarded will support the group’s tenant advocate program.

The Mill River Collaborative also received a $20,000 grant, the first of five annual installments totaling $100,000 pledged earlier this year toward Dreams Taking Root, the collaborative’s capital campaign to develop and maintain Mill River Park. The funds will finance the park’s new cherry tree grove, which will consist of three tree varieties, including one that blooms in spring and fall. The grove will be located east of Mill River.

“These trees and this park symbolize the rebirth of downtown Stamford,” says Rey Giallongo, president of the foundation and chairman and CEO of First County Bank. “What better investment is there than providing a natural environment for the community to enjoy as a whole?”