Annual Community Support From The Eastern Bank Charitable Foundation Exceeds $22 Million, An All-Time High
Eastern Bank Charitable Foundation (EBCF), the philanthropic arm of Eastern Bank, today announced its annual community support is expected to exceed $22 million, an all-time high, by the end of 2020. This includes an additional $3 million philanthropic investment to help address the impact of COVID-19 in the communities Eastern Bank serves. Added to the $8 million provided earlier this year, EBCF’s total for COVID-19 philanthropic relief for the year now stands at $11 million. EBCF’s 2020 philanthropy also includes continued grassroots community support in a range of areas led by nonprofit organizations in the communities where Eastern Bank operates, as well as further philanthropic support to address economic inclusion and mobility, particularly at the intersections of equity for businesses of color, early childhood development, safe and affordable housing, and workforce development, all areas experiencing growing need during the pandemic.
Providing COVID-19 Philanthropic Support
The most recent $3 million in funds will support organizations focused on housing stability, homelessness, food security, and essential services and utilities for low- and moderate-income individuals and families.
“Housing, homelessness and food insecurity have long been challenges in our local communities that are being made worse by the double impact of the pandemic and approaching winter season,” said Nancy Huntington Stager, President and CEO of Eastern Bank Charitable Foundation. “Thank you to the organizations and people bravely working on the front lines to support our neighbors in need providing vital assistance during these times. The need for corporate philanthropic support of our nonprofit partners is as great now as it was earlier this year, and we invite those who can to join us in giving their support.”
The $3 million in funds will support:
- $1.5 million to organizations addressing housing and homelessness and preventing evictions and foreclosures, rental assistance, shelters, and other services as a result of housing insecurities compounded by the pandemic;
- $1.0 million to multi-service organizations providing fundamental social services in the communities Eastern serves and working on the front lines to help individuals and families across Eastern’s market areas with rental assistance/eviction prevention, emergency housing and affordable housing, foreclosure prevention, and food security; and
- $500,000 in emergency assistance to organizations providing support for food security and emergency assistance for fuel and utilities, helping to ensure food stability and the availability of heat, light and the internet during the winter.
During the early days and weeks of the pandemic, Eastern Bank Charitable Foundation began to lend its support as quickly as possible, and it has steadily increased throughout 2020 the amount of unsolicited grants to nonprofit organizations: