Charitable Foundations

Salem Five is committed to helping build stronger, more vibrant and prosperous communities and has established two foundations that help support  important causes; the Salem Five Charitable Foundation and the Heritage Salem Five Charitable Foundation.   Each foundation has its own purpose, process for reviewing requests and program for giving.

Requests to the Heritage Salem Five Charitable Foundation can be made through our Heritage Grant Program, which provides significant grants of $5,000 or more through a semi-annual award process.

Salem Five Charitable Foundation – Community Donations Program

Requests to the Salem Five Charitable Foundation can be made through our Community Donations Program. This program considers requests on an on-going basis and funds an average of 300 charitable requests per year.

We believe that a strategic focus for our giving is critical to sustaining a lasting impact. Accordingly, focused support falls within three priority areas of concern: Economic Self-Sufficiency, Workforce Development, and Financial Literacy.  We do support many worthwhile organizations throughout our communities that fall outside these areas, giving due consideration to all requests.  However, as a mutual savings bank our overall sense of purpose is grounded in helping those in our community make smart decisions about financial challenges and opportunities, maintain quality employment, and ultimately, be able to financially sustain themselves and their families.

The Salem Five Charitable Foundation accepts written requests for Community Donations. Donations range in size from $50 to $10,000. Most donations within this program are $1,000 or less. Requests are considered on a monthly basis. If you would like to submit a request online, please fill out this Charitable Request Form.  If you would like to download a printable form that can be mailed, emailed or faxed in with additional supporting materials, download a .pdf version of the Charitable
Request Form

Please note if your organization has 501(c) (3) tax status, you must provide your tax identification number on the application. Completed form and supporting materials should be directed to: 

Karen Chase
Marketing Representative, Community Relations & Events
Salem Five Charitable Foundation
210 Essex Street, Salem, MA 01970

Phone: 978-720-5322
Fax: 978-498-0193

The Heritage Salem Five Charitable Foundation - Heritage Grant Program

The Heritage Grant Program will award grants with a minimum value of $5,000, to non-profit organizations that support education, health and human services, youth programs, affordable housing, and community development. The Heritage Grant Program is funded through the Heritage Salem Five Charitable Foundation and was established to honor the charitable giving legacy of the Heritage Co-operative Bank as part of the Salem Five / Heritage merger agreement. To qualify for a Heritage Grant, the non-profit organization must be located in the communities of Salem, Marblehead, Beverly, Peabody, or Danvers, Massachusetts.

Requests for Heritage Grants must be submitted in the Associated Grantmakers of Massachusetts Common Proposal Form found at Please be sure to include the AG Cover Summary with your application. Application deadlines for 2015 grants are March 19 and September 17.

Awards will be announced in late April and October respectively. Please refer to the Giving Guidelines for more information regarding the Heritage Grant Program. Heritage Grant applications should be directed to:

Doris Murphy, Grant Program Administrator
Heritage Salem Five Charitable Foundation, Inc.
210 Essex Street
Salem, MA 01970

Phone: 978-720-5635
Fax: 978-745-1073

Eligibility for Funding

The Salem Five Charitable Foundation and The Heritage Salem Five Charitable Foundation fund organizations to which the IRS has granted 501(c) (3) status. Salem Five also reserves the right to fund for-profit organizations per our giving guidelines. The organizations receiving funding from Salem Five must be fiscally sound and demonstrate strong administrative management. Salem Five does not fund organizations that discriminate based on age, race, color, sex, religion, national origin, disability, or sexual orientation.