2023 IMPACT REPORT STORY

A new partnership between The Guilford Foundation (TGF) and GSB (Guilford Savings Bank) is helping both organizations do what they do better, while also helping the Guilford community thrive.

It is no surprise that the collaboration developed out of the Covid-19 pandemic, which changed the way GSB, a nearly 150-year-old institution, showed its support for the community. While causing the cancellation of so many of the 2020 events and activities that might have received funding from the bank, the pandemic also left countless businesses, organizations, and residents struggling to fulfill basic needs.

“It was then that our president, Tim Geelan, really brought to our attention the personal hardships that were occurring and that we could help. Suddenly, businesses were shutting down, people weren’t getting paychecks, and basic needs weren’t being met,” says Renee Pallenberg, senior vice president of marketing for GSB.

The bank decided to repurpose about $100,000 worth of funds that might have gone to sponsor events and distribute them to four local community foundations, including $25,000 to TGF. The foundations provided a more direct link to those working on relief efforts at the height of the pandemic.

Since that decision in 2020, Pallenberg explains, the bank realized the benefits of having the partnership, and the relationship has evolved. Originally, the funds were used in TGF’s COVID-19 Recovery Fund to support families through the Women & Family Life Center and to support struggling non-profits. As those needs subsided, TGF applied the funds to other grant opportunities and increasingly to sponsorships. TGF Sponsorships are designated for one-time events or a series of events given by an organization to increase visibility or raise funds.

In 2022, TGF helped to distribute $25,000 for GSB to at least 20 different organizations, with sponsorships ranging from $250 to $2,500. Among the recipients were social services agencies like the Community Dining Room and Clifford W. Beers Guidance Clinic; Guilford High School’s Project Graduation and TAPS (Theater Arts Parents Support); and organizations like the Guilford Keeping Society, Guilford Arts Center, and the Shoreline Arts Alliance. The SARAH Foundation, supporting individuals with differing abilities, and the Women & Family Life Center, helping women and children in crisis, are also among the regional beneficiaries of GSB’s sponsorships.

The partnership between TGF and GSB centers around shared priorities. Both the bank and the foundation have identified priorities aimed at supporting families – particularly those struggling with basic needs, mental health concerns, or education. Other hallmarks of the Guilford community – arts and culture, the natural environment, senior citizen engagement, and social justice – are important concerns for both organizations.

“It is an honor to be designated by GSB as the organization to sift through applications and make decisions that reflect positively on our organizations and our community,” according to Liza Petra, TGF’s executive director.

Meaningful philanthropy and servant leadership are two core values at the heart of GSB. Indeed, the bank often reinforces its financial support with personal support. The bank’s 136 employees are encouraged and given time to participate as volunteers in fundraisers and events that impact the community. Pallenberg says their silent auction team is renowned for helping out what is often the most stressful element of fundraising events.

“We bring six or eight volunteers to do registration, tallying, and money management at the auction. There’s a level of trust, I assume, because we are bankers. But, also, it’s been happening for 12 or 15 years, so it’s many of the same people year after year,” Pallenberg explains.

And trust will be the cornerstone of the new relationship between GSB and TGF.

“The partnership works really well. We meet with them periodically to make sure our goals are in alignment, and the recent shift to sponsorships provides more of the exposure that we need,” she notes. “We want our communities to know that we support the activities that are important to them.”