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– Bangor Savings Bank recently added $1 million to the endowment of its charitable arm, the Bangor Savings Bank Foundation, according to bank President and CEO Bob Montgomery-Rice.
Since 1997 the Bangor Savings Bank Foundation has focused philanthropic efforts on worthy initiatives that make Maine communities more prosperous, more livable and more vibrant. The Foundation awards quarterly grants ranging from $2,000 to $25,000 with priority given to efforts that support economic development, workforce development, or the entrepreneurial or demographic health of a region. Other giving areas include education, social and civic services, culture and arts, and health and wellness.
In recent years, the Foundation has provided larger one-time grants to LifeFlight of Maine, the Foundation for Maine’s Community Colleges, the Eastern Maine Medical Center Neonatal Unit, and the Biddeford Mills Museum. The Foundation also oversees the annual Community Matters More grant making program which provides more than $100,000 to nonprofits throughout Maine and New Hampshire.
“We are grateful to have a Foundation that gives generously to organizations and community projects each year,” said Bangor Savings Bank Foundation Chairman Jim Goff. “This gift to the Foundation endowment principal will enable us to continue to support important initiatives that make a difference for people who live where Bangor Savings Bank does business.”