Mission

The Dime Bank Foundation was established in 1998 to further the Bank’s commitment as a community bank to give back to the people it serves.  Our mission is to improve the well-being and quality of life for members of our communities by providing funding in support of organizations or programs that provide, strengthen, or enhance services to individuals within the Bank’s markets.        

Eligibility—Grants are awarded to:

  • Organizations that are recognized as exempt from federal income taxation under Section 501( c )(3) of the Internal Revenue Code and governmental units referred to in Section 170( c )(1) of the Internal Revenue Code  
  • Organizations that serve the residents of New London County, CT and the Westerly, RI area, with priority given to the towns that the Bank serves     


Generally, funding priority would be given to projects or agencies that provide:

  • Affordable housing
  • Basic human services for those considered most at-risk
  • Cultural enrichment programs, especially among disadvantaged populations
  • Development/education, job training, or promotion of literacy, especially preventative programs that encourage self-sufficiency 
  • Opportunities for collaborative efforts, or that leverage matching dollars 
  • Services to at-risk or under-served children, families or the elderly, with emphasis on low/moderate income levels


Generally, funding would not be provided to:

  • Fund-raising campaigns
  • Organizations that fund other organizations or foundations
  • Political or fraternal organizations
  • Religious institutions or sectarian programs (except for activities that benefit the community at-large)
  • Parent-run organizations (such as PTO’s, Little Leagues, etc.)
  • Organizations that do not demonstrate fiscal stability or administrative responsibility    


While we do not put a limit on how often an organization may apply to the Foundation, funding will only be provided to the same organization once per year.

Post grant reports must be on file for previously funded grants before consideration would be given to new requests. For your convenience, a post-grant report can be downloaded from the Foundation Contact page.

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