NewAlliance Foundation Announces Transition to an Independent Organization

June 27, 2011

The New Haven-based NewAlliance Foundation announced today that it has made the official changeover to a stand alone independent foundation. The completed acquisition of NewAlliance Bank by First Niagara this past April newly positions the longstanding Foundation as a separate foundation that will continue to serve the community.

“The NewAlliance Foundation has deep roots in Connecticut, stemming from its initial inception under the banner of New Haven Savings Bank. Our changeover to a freestanding organization underscores the Foundation’s pledge to serve and help fund local-area not-for-profit organizations,” said Kim A. Healey, Executive Director of the Foundation.

“Our commitment to effectively assist and meet the needs of local organizations through grants remains strong. We look forward to carrying on this legacy and to continuing to work with local partners to improve the quality of life for community residents,” added Healey.

Since April 1, 2004, when NewAlliance Foundation was first established, through December 2010, the organization distributed over $15 million in support of Connecticut and Western Massachusetts non-profit communities. Programs in the areas of health and human services, the arts, education and community development have received funding from the Foundation.