Commitment to supporting communities continues through Bank and Foundation
Release date: July 7, 2020
Hyannis, MA – In its continuing efforts to modernize and enhance its ability to effectively support the communities it serves, Cape Cod 5 has converted its Foundation Trust to a 501(c)3 corporation. Since its creation in 1998, the Foundation Trust has given out over $12.4 million in grants to local nonprofit organizations, scholarships to local college students and graduating high school students, and Educational Mini-Grants to public school teachers in the region.
“These efforts to modernize the structure of our Foundation according to industry best practices allow us to respond quickly to the rapidly changing needs of our community,” said Dorothy Savarese, Chair & CEO of Cape Cod 5 and Chair of the Cape Cod 5 Foundation. “Both the Bank, as a mutual institution without shareholders, and the Foundation share a commitment to utilizing our resources – whether talent, time, or financial – to support the areas where we’re uniquely suited to make the biggest impact. The Foundation giving complements the philanthropic donations of Cape Cod 5, which on a combined basis for the last six years have exceeded $1 million annually.”
The Cape Cod 5 Foundation will continue to share the Bank’s commitment to five areas of focus: accessible housing; economic sustainability; education and enrichment; environmental stewardship; and community health, human need and active service members’ and veterans’ needs.
To find out more about Cape Cod 5’s community engagement efforts, or to submit a request for support, go to www.capecodfive.com/community.