Worcester Business Journal

www.wbjournal.com Worcester Business Journal • Giving Guide 2016 7 S ince 1895, Bay State Savings Bank has been a stalwart member of the local financial community, proudly serving the needs of all its customers. Through the years, the Bank's products and services have evolved from paper statements and basic checking and savings accounts to include a virtual branch and telephone, online and mobile platforms. All of these enhancements enable Bay State Savings Bank to compete with other financial institutions, yet still maintain the personal touch. But more important, Bay State Savings Bank, through its Charitable Foundation, has been giving back to the community in many ways since its inception in 2003. The Foundation was created specifically to make charitable contributions to non-profit organizations and support worthy programs that enhance the quality of life for the greater community. President and CEO Peter B. Alden reported that the Foundation sup- ports a wide variety of organizations, including Edward Street Child Services, the Barton Center for Diabetes Education, Straight Ahead Ministries and the Worcester County 4-H Center, to name a few. "As a small company, we can't be everywhere, but we find projects with a lot of merit and lend our support," he said, noting that the Foundation focuses a significant amount of its attention on children's causes. The Foundation Board meets twice a year to review grant requests and participate in selecting the non-profit organizations that will receive funding. "Over time, we have given over $400,000.00 in grants, sponsor- ships and scholarships," said Alden. "Our work is ongoing to sustain the Foundation as we continue to build it up." In addition to its philanthropic work through the Foundation, Bay State Savings Bank has contributed nearly $150,000 to local philanthrop- ic causes through its Champions for Children initiative, which was stab- lished in 2004 to recognize and support local organizations and individu- als who provide education, mentoring, training, life skills development, or recreational opportunities to the youth of the community. "We have two Champions for Children events each year, one at Wachusett Mountain and one at Taste of Shrewsbury Street, for a night of fun and fundraising," said Alden. "The 365Z Foundation was selected for our Wachusett event this year. Its mission is to spread kindness." "The highlight of the Shrewsbury Street event is the dunk tank," said Alden, who added that as many as eight bank employees gladly endure a soaking for charity. "Each year we partner with Shrewsbury Street Merchants Association and WXLO Radio and select a non-profit to raise money for through this event." Charitable events take place all year long and Bay State commits time, funding and manpower to a number of them. Alden noted that the bank encourages all its officers to serve on local non-profit agency boards. "We allow them time to participate. We also ask employees to volunteer. We actually give out an award – the President's Award for Community Service – which is given to the employee with the highest number of volunteer hours in a year. The winner receives his/her choice of an extra week's pay or an extra week of vacation time." "From the top down, Bay State employees are involved in the commu- nity. We believe in giving back," Alden said. "Not only is this type of commitment and participation good for business, but it also benefits the people in our local neighborhoods." More than 120 years ago, Bay State Savings Bank was founded on the principle of providing reliable, competitive financial products and top- notch customer service with personalized attention. The Bank follows that same philosophy when it comes to helping the local community. "Caring about our customers, caring about the communities where we live and work – is how 'we take banking personally'." n BAYSTATE SAVINGS BANK Invested in the Community Nonprofit Status 2016 (continued) Even in times of fiscal turmoil, non- profits in the Bay State have managed to survive and thrive. BLS data indicated that employment in the nonprofit sec- tor during the Great Recession (2007 – 2009) increased by 16,765 jobs. The BLS also reported that at the end of 2015 Massachusetts had 529,538 non- profit jobs. In addition to the mutual underlying message of kindness, the network of nonprofit organizations is rooted in collaboration. These agencies draw upon each other for inspiration, guid- ance and support as they work together for the welfare of others. They form partnerships with individuals; small businesses; large corporations; parents and caregivers; public and private school systems; other civic organiza- tions; and the community at large. One of the most important collabora- tions, however, takes place with volun- teers who generously give of their time and expertise. Often referred to as the "backbone of the organization," volun- teers help to bridge the gap between the work of nonprofit staffs, which are often very small, with the people they serve. Volunteers vary in age and experi- ence, ranging from community and business leaders to retirees and teens and everyone in between. The BLS reported that between September 2014 and September 2015 approximately 62.6 million people volunteered at least once during the year. Furthermore, these individuals spent an average of 52 hours in volunteer service during that timeframe; also, approximately 18.3 percent volunteer for more than one organization. In Massachusetts, 1.30 million volunteers donated 137.4 mil- lion hours of service, according to the Corporation for National and Community Service. By itself, each nonprofit organization can have a remarkable impact on the individuals it serves as well as on the community-at-large. As a whole, that impact can be impressive. The Worcester Business Journal salutes and supports each of these organizations for their efforts. Much like the Kindness Rocks Project, nonprofits are making the world a better place. n

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