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Essex Savings announces $103,000 in donations

By Lee Howard

Publication: theday.com

Published September 12. 2013 5:00PM   Updated September 12. 2013 5:30PM

Essex — Essex Savings Bank announced this week that 30 nonprofits will share more than $100,000 from the directors’ portion of the financial institution’s Community Investment Program.

The largest portion of the $103,196 allotment went to High Hopes Therapeutic Riding of Old Lyme, which received $7,000 for programming and publicity. Other top recipients included Florence Griswold Museum in Old Lyme, $6,750; the Community Foundation of Middlesex County, $6,500, and the Connecticut River Museum, $5,500.

Another significant donation will be shared by eight libraries through the Adopt a Library Program. The $5,636 contribution is earmarked for the libraries to subscribe to eight magazines of their choice.

Most funding amounts ranged from $500 to $5,000. This year’s overall directors’ allotment was slightly above the $102,250 handed out last year at this time.

Nonprofits receiving $5,000 contributions were Goodspeed Musicals of East Haddam and Chester, the Katharine Hepburn Cultural Arts Center & Theatre in Old Saybrook, Lyme Academy College of Fine Arts in Old Lyme, Lawrence & Memorial Hospital and Middlesex Hospital.

The bank, led by President and Chief Executive Officer Gregory R. Shook, annually contributes 10 percent of its after-tax profits to nonprofit groups in the community. In April, the bank committed $77,400 to 71 nonprofits, based on customer balloting.

The mutual savings bank said it expects to donate more than $250,000 to more than 200 local nonprofits by the end of the year. That would bring total distributions through the bank’s Community Investment Program to about $3.7 million over the 17-year history of the program.

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