Origin
The Provident Bank Foundation was established in 2003 by Provident Bank to enhance the quality of life in the region through support of not-for-profit groups, institutions, schools and other 501(c)(3) organizations that provide services in communities served by the Bank.
Mission
The Provident Bank Foundation was established with the intent of supporting not-for-profit groups, institutions, schools and other 501(c)(3) organizations that provide valuable services to the communities served by Provident Bank. The Provident Bank Foundation is committed to strengthening and sustaining its relationship with communities in the bank’s marketplace, as well as to enhancing the quality of life in New Jersey and Pennsylvania communities.
Goals
Continued momentum of support throughout communities in which Provident Bank serves.
Programs
The Provident Bank Foundation makes grants in three priority areas:
- Community Enrichment: The Provident Bank Foundation understands that a vibrant community is the cornerstone of a high quality of life. This is why we invest in those institutions that contribute to a sense of community and offer a diversity of programs that make people healthier, happier and safer. To achieve these ideals and enrich our communities, we fund programs that drive economic development, contribute to a more well-rounded community experience and provide increased access to information and specialized learning opportunities.
- Education: The Provident Bank Foundation believes that a good education requires strong academic support and curriculum development. To give people of all ages the tools and knowledge to succeed in an increasingly complex economy, we support innovative programming that expands access to, and improves the quality of, well-rounded educational experiences.
- Health, Youth & Families: The Provident Bank Foundation is committed to encouraging better health, having youth reach their full potential and making families stronger, three ingredients for better communities. This includes having a safe place to live, access to quality health care, enough food to eat, mentorship opportunities and the right academic or professional outlets to enrich oneself. The foundation supports innovative programs to ensure people of all ages and means have the ability to improve their quality of life.
The Provident Bank Foundation makes the following types of grants:
- Community: Community Grants provide between $1,000 and $5,000 in funding. The primary purpose of a Community Grant is to increase access to funding and strengthen the capacity of community-based organizations.
- Major: Major Grants range from $5,000 up to and including $25,000. As is the case across PBF’s philanthropic and community engagement activities, the Major Grant emphasizes support of sustainable community enhancement and short-term change.
- Signature: The foundation will again distribute six $50,000 Signature Grants in 2018, two in each of the foundation’s three funding priority areas.
- Commit to Care: In celebration of PBF’s 15th anniversary, the organization will be distributing 12 “Commit to Care” Grants in February 2018. Stay tuned for more information.
Achievements
The foundation’s key achievements this past year include:
- Providing nearly $1 million in funding across Provident Bank’s marketplace;
- The diversity and depth of the programs, projects and not-for-profits was much more robust than previous years.
Fundraising
Not applicable, as the foundation is endowed by the bank. The foundation is organized exclusively for charitable purposes, including making distributions to organizations that qualify as exempt organizations under Section 501(c)(3) of the Internal Revenue Code of 1986, as amended. It is a private foundation.
Finally
We can’t say enough about the diversity across all of our grant recipients, as it far exceeded our expectations. The year 2018 is a milestone year for us, our 15th anniversary, and, without our board and its continued support and vision, this all would not be possible.
In Brief
Where: 250 Madison Ave., Morristown
Serving: 13 counties in New Jersey (Bergen, Essex, Hudson, Hunterdon, Middlesex, Mercer, Monmouth, Morris, Ocean, Passaic, Somerset, Union and Warren), and three counties in Pennsylvania (Bucks, Lehigh and Northampton)
Key members: Jane Kurek, executive director; Chris Martin, president; Carlos Hernandez, chairman
