NewAlliance Foundation
Overview
NewAlliance Foundation was established in 2004 through a contribution of $40 million in stock from NewAlliance Bancshares, Inc. at the time of the Bank’s initial public offering. Committed to the same long history of philanthropy of its predecessor, The New Haven Savings Bank, NewAlliance Bancshares formed the Foundation to enhance economic vitality and improve the quality of life for residents in the communities served by the bank. In 2011, upon the merger of NewAlliance Bancshares, Inc. with First Niagara Financial Group, NewAlliance Foundation (NewAlliance) became a private, independent foundation serving 42 Connecticut communities. Since its inception, NewAlliance Foundation has approved over $30 million in grants to local community organizations. NewAlliance’s mission is to support organizations that advance literacy, build communities, and dismantle systems that perpetuate poverty and racism. NewAlliance accomplishes its mission by providing financial support to charitable organizations addressing diverse community needs in the arts, community development, health & human services, and youth & education, with a particular emphasis on programs that empower people through literacy development. NewAlliance supports nonprofit organizations in the Greater New Haven area through strategic grantmaking, funding innovative programs, general operations, sponsorships, and capital campaigns. Key initiatives include “READy for the Grade”, a partnership with public libraries to prevent summer reading loss for K-3 students from low-income families, and the “Hi-5” Literacy Award, recognizing excellence in literacy programming. NewAlliance is a small, responsive, and well-regarded organization that embraces innovation, risktaking and healthy debate, and deeply values and respects its community relationships. Its board is engaged and open to innovation, with a history of supporting executive leadership in piloting new initiatives. As a lean, nimble organization, NewAlliance has the capacity to turn ideas into action quickly, while encouraging its leaders to be resourceful, adaptive, and confident managing both strategy and execution.
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NewAlliance Foundation was established in 2004 through a contribution of $40 million in stock from NewAlliance Bancshares, Inc. at the time of the Bank’s initial public offering. Committed to the same long history of philanthropy of its predecessor, The New Haven Savings Bank, NewAlliance Bancshares formed the Foundation to enhance economic vitality and improve the quality of life for residents in the communities served by the bank. In 2011, upon the merger of NewAlliance Bancshares, Inc. with First Niagara Financial Group, NewAlliance Foundation (NewAlliance) became a private, independent foundation serving 42 Connecticut communities. Since its inception, NewAlliance Foundation has approved over $30 million in grants to local community organizations. NewAlliance’s mission is to support organizations that advance literacy, build communities, and dismantle systems that perpetuate poverty and racism. NewAlliance accomplishes its mission by providing financial support to charitable organizations addressing diverse community needs in the arts, community development, health & human services, and youth & education, with a particular emphasis on programs that empower people through literacy development. NewAlliance supports nonprofit organizations in the Greater New Haven area through strategic grantmaking, funding innovative programs, general operations, sponsorships, and capital campaigns. Key initiatives include “READy for the Grade”, a partnership with public libraries to prevent summer reading loss for K-3 students from low-income families, and the “Hi-5” Literacy Award, recognizing excellence in literacy programming. NewAlliance is a small, responsive, and well-regarded organization that embraces innovation, risktaking and healthy debate, and deeply values and respects its community relationships. Its board is engaged and open to innovation, with a history of supporting executive leadership in piloting new initiatives. As a lean, nimble organization, NewAlliance has the capacity to turn ideas into action quickly, while encouraging its leaders to be resourceful, adaptive, and confident managing both strategy and execution.
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