Foundation Guidelines

The Sovereign Bank Foundation, (the Foundation) makes charitable contributions to 501(c)(3) non-profit organizations.

Foundation resources are allocated with priority given to requests benefiting low- and moderate-income individuals and communities. The percentage allocations are considered guidelines and represent long-term objectives. The exact allocation may change year to year.

Foundation contributions are considered and allocated within the following areas:

1. Community Investment and Economic Development (20-30%)
   
   • Programs supporting affordable housing for low- and moderate-income individuals and communities
   • Economic development projects that improve the quality of life, sustain economic development and support job skills for low- and moderate-income individuals and communities
   • Facilities that promote community development programs
   • Not-for-profit organizations providing credit counseling, homeownership counseling, home maintenance, and other financial service education
2. Youth and Education (20-30%)
   
   • Programs that enrich a child's educational opportunities, such as school programming and curriculum development from outside organizations and after school programs, in addition to early childhood development, and special education programs, with preferences given to those programs targeting low-and moderate-income communities
3. Health and Human Service (20-30%)
   
   • Programs that revitalize or stabilize low- and moderate-income areas and/or community services targeted to low- and moderate-income individuals
4. Arts and Culture (5-10%)
   
   • Contributions are considered to visual and performing arts programs, museums, libraries, cultural centers, and public radio and television stations that support programs and services to low- and moderate-income communities

Funding Exclusions

• Individuals
• Programs with political, sectarian, and religious purposes
• Pageants
• Team sponsorships or sporting events
• Organizations traditionally supported by parents (e.g. Little League, PTO, Scouting)
• Advertising in programs, bulletins, schedules, maps, yearbooks, book covers, or brochures
• Trips and tours, including transportation costs
• Capital Campaigns
• "Walk-a-thon" races or similar fundraising events