As a reflection of its long-standing commitment to the local community, Reading Co-operative Bank established the RCB Charitable Foundation in 1999. The foundation is dedicated to the promotion of charitable, educational, and civic purposes within the bank’s market area.

About the Grant Program

The RCB Charitable Foundation will generally award grants of up to $10,000 to increase the quality of life of the greater market area. Special emphasis will be placed on those projects which focus on disadvantaged and/or undeserved citizens. The areas of interest are workforce development, health and human service, housing, education, community development, the environment, and the arts. Grant requests will be considered for program support, seed money, and capital improvements.

Eligibility Requirements

To apply for a grant, applicants must be non-profit 501 (c) (3) organizations or public schools located in or serving the towns of Reading, Wilmington, North Reading, and Woburn. The Charitable Foundation will not fund political or sectarian activities.

Funding Criteria

In reviewing proposals, the Trustees will give special consideration to the following: the need of the target population to be served; the need for the service by the target population; the number of local residents to be served by the project; the impact of the project on the population served; the significance of the grant on the organization’s ability to implement the project; the sustainability of the project once the grant period has ended.

Application Instructions

> Download the Charitable Foundation Application

To apply for funding, applicants must submit a cover letter signed by the organization’s Executive Director or Board President plus one paper copy and one pdf of a brief proposal (2-3 pages) and a summary sheet. Proposals must include the following information, keeping in mind the funding criteria: Application Organization: Mission and brief history of major programs and geographic scope of services, organizational structure and number of staff.

Proposed Project: The project or purpose for which grant funding is sought. The target population and community needs to be addressed. The impact of the quality of life of the target population. How the proposed project complements the mission and activities of the applicant organization. The goals (qualitative and quantitative) to be achieved by the project. Specific timetable of activities for attaining stated goals. Plans for sustaining the project beyond the grant period.

Project Budget: Itemized project expenses (e.g. salaries, equipment, printing). Indication of which project expenses will be covered by the RCB Charitable Foundation’s funds. Projected project revenue, including all funding sources (in hand and anticipated funds) and the amounts from each individual source.

We review applications quarterly: May 1, August 1, November 1, and February 1.