BERLIN, MD (March 25, 2024) – Taylor Bank today announced it is accepting applications for the first round of grants from its For Good Fund.
In 2023, the bank introduced the For Good Checking Account. For customers who chose to enroll, a portion of every debit card transaction has been directed to the For Good Fund. From those contributions, approximately $15,000 will be awarded in this cycle to nonprofit organizations that strengthen and enhance local communities. Individual grants will range from $1,000 to $5,000.
“We are excited to kick off the first grant cycle of the For Good Fund,” said Lori Simon, Vice President, CRA Officer and Staff Development Training/Coordinator at Taylor Bank. “We look forward to helping nonprofits in our communities increase their positive impact and further their mission.”
Focused on supporting low-income communities
The For Good Fund was created to support local nonprofits, with an emphasis on:
- Neighborhood Development – such as programs that create affordable housing opportunities, support vulnerable homeowners, and help revitalize neighborhoods.
- Workforce Development and Education – such as programs that promote financial literacy and provide skills training for young and economically-disadvantaged residents.
- Basic Human Services – such as food, housing and fuel programs, and others that provide immediate and long-term solutions for those facing economic hardship.
Who is eligible?
To apply, you must be a not-for-profit organization recognized under Section 501(c)(3) of the Internal Revenue Code in good standing with the IRS. Taylor Bank will prioritize organizations serving Sussex County, Delaware; Worcester County, Maryland; and Accomack County, Virginia. The Bank’s Giving Committee will evaluate each grant request for financial sustainability, leadership, collaboration, overall impact, and more.
If your organization meets these criteria, apply by June 1 to receive one of the first grants from this innovative community-based program. Taylor Bank is administering this program through a donor-advised fund at the Community Foundation of the Eastern Shore. “The creativity of this program to engage customers in expanding the philanthropic impact of Taylor Bank is commendable, and we are pleased to partner with them in this effort,” said CFES President, Erica Joseph.