About Ion Bank Foundation
Ion Bank Foundation concentrates its philanthropy on strengthening local community services by funding annual United Way campaigns in its home region. Nearly all giving goes to community-wide fundraising drives that support a broad network of social service providers in Naugatuck, Beacon Falls and Greater Waterbury. The foundation favors general/annual campaign contributions rather than program-specific grants, signaling a preference for flexible, community-directed support.
Focus Areas
Annual United Way campaign support in Naugatuck & Beacon FallsAnnual United Way campaign support in Greater WaterburyUnrestricted/general operating support for local human servicesRegional community welfare and basic needs funding
Who They Fund
low-income individuals and families (Waterbury community)people experiencing homelessnessseniors in crisis / elderlyyouth and familiesnonprofit feeding agencies and community service providers
About Ion Bank Foundation
ION BANK FOUNDATION INC is based in Naugatuck, CT. It reported $3,141,840 in annual grants and $14,819,407 in total assets on its latest 990 year on file, 2025. Its giving is local, and 97% of grants go to recipients in Connecticut. The foundation funds individuals and also makes competitive and designated grants, with typical grant sizes of $200 at the 25th percentile, $550 at the median, and $2,500 at the 75th percentile. Recent grantmaking shows a strong emphasis on United Way campaign support and related community services. Named recipients include UNITED WAY OF GREATER WATERBURY, which received $119,000 in 2024 for an annual campaign contribution and $70,000 in 2025 for boosting services for guests at South Park; UNITED WAY OF NAUGATUCK & BEACON FALLS, which received $110,000 in 2024 for an annual campaign contribution and $104,000 in 2025 for economic empowerment programs; and CONNECTICUT COMMUNITY FOUNDATION, which received $41,588 in 2025 for Give Local. Other notable grantees include WATERBURY PROMISE INC at $25,000 in 2024 and 2025, and OPERATION FUEL at $20,000 in 2023.
What Ion Bank Foundation Funds
Recent grantmaking spans annual United Way campaign support, homelessness outreach and supportive housing, and emergency financial assistance. Notable grants include UNITED WAY OF GREATER WATERBURY for $60,000 in 2023 for a homelessness initiative and $70,000 in 2025 for boosting services for guests at South Park. UNITED WAY OF NAUGATUCK & BEACON FALLS received $104,000 in 2025 for economic empowerment programs. Other grants reflect community fundraising and local service support, including CONNECTICUT COMMUNITY FOUNDATION for Give Local at $41,588 in 2025 and WATERBURY PROMISE INC for $25,000 in 2024 and $25,000 in 2025.
How Ion Bank Foundation Gives
ION BANK FOUNDATION INC gives through competitive grant rounds, annual community awards, and designated or campaign-style contributions. Its typical grant size is $200 at the 25th percentile, $550 at the median, and $2,500 at the 75th percentile, although recent awards include much larger campaign and program grants. The foundation accepts unsolicited applications through its grant program and competitive grant rounds. Recent grants show recurring support for local nonprofit organizations, municipal public-purpose projects, and religious organizations seeking nonsectarian support, with annual and repeated funding to the same recipients.
Financial Snapshot
Annual Giving
$1M
Total Assets
$15.3M
Total Revenue
$1.2M
Total Expenses
$1.3M
Typical Grant Size
Most grants fall between $200 and $3K, with a median of $550.
25th Percentile
$200
Median
$550
75th Percentile
$3K
Geographic Reach
Local8 states funded
Funding intensity
LowHigh
Headquarters
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