Funds Will Be Used To Support Major Fundraising Campaigns
July 29, 2020
Franklin Savings Bank recently pledged its support to the Nashua Soup Kitchen and Liberty House to assist these organizations with major fundraising campaigns. The bank, based in Franklin, New Hampshire, purchased $2,500 in NH Community Development Finance Authority tax credits to assist the Nashua Soup Kitchen with expanding its emergency shelter. The facility, formerly known as Sacred Heart School, will undergo renovations to provide temporary housing to individuals and families until they are able to secure permanent housing.
“Given the challenges our communities have encountered during this time of need, we were pleased to step forward to offer our support to the Nashua Soup Kitchen with their project,” said Ron Magoon, Franklin’s president and CEO. “The greater Nashua area continues to experience increased homelessness as well as a lack of affordable housing. We hope our support will put them closer to getting this project moving along, so they can assist individuals and families with a need for temporary housing.”
FSB also made a $2,500 donation to the Liberty House’s ‘Mission Renovate & Restore’ campaign to put an end to homelessness among Veterans. The $250,000 campaign will raise funds to support the first phase of renovations for the future home of Liberty House – a 16,000 square foot facility located on Orange Street in Manchester. The building will consist of 13 new bedrooms, handicap-accessible bathrooms, entryways and living spaces, as well as a remodeled library, resource room and case management services room.
Each dollar contributed to the ‘Mission Renovate & Restore’ campaign will be matched by an anonymous donor who stepped forward with a $250,000 contribution. The bank’s $2,500 donation is actually worth $5,000. To make a donation to this campaign, visit www.libertyhousenh.org/restore.
Established in 1869, Franklin Savings Bank is an independent, mutually-owned community bank. It has donated over 11% of its net income to charity since 2009.
Photo caption: Diane Paradis, branch manager of FranklinSavings Bank’s Goffstown office, is flanked by Liberty House’s Ashley Kitchell,operations manager, and Jeff Nelson, executive director.
The Bottom Line
Most financial institutions have tremendous excess capacity in their existing branches today.