Housing and Community Impact Grants Awarded to Local Nonprofit Organizations
Oak Ridge, N.J. – June 25, 2018 – Lakeland Bank is pleased to announce its newly established non-competitive grant programs for 2018. The purpose of the Housing Impact Grant Program and Community Impact Grant Program is to address specific community-focused initiatives and invest in eligible high-performing nonprofit organizations that make a strong and lasting impact on our communities.
“As a community bank, we believe Lakeland has an obligation not only to provide financial services, but also invest in initiatives that enhance the places where our associates and customers live and work,” said Thomas Shara, president and chief executive officer. “We are excited to structure a non-competitive grant program that will allow Lakeland the opportunity to offer funding to some of the most well-established nonprofits in our communities.”
Housing Impact Grants
Lakeland Bank will make investments directly in eligible nonprofit organizations whose primary mission is to provide housing related services to low and moderate income families and/or geographies within the Bank’s assessment areas. The following organizations were recently awarded a Housing Impact grant:
- $50,000 to Morris Habitat for Humanity, Randolph, N.J. – allocated to offset construction costs for four affordable homes in Mine Hill, N.J. including three built during the June 6-16, 2018 Blitz Build.
- $20,000 to Housing Partnership, Dover, N.J. – will support the Individual Development Account (IDA) Matched Savings Program, a systematic matched savings club for income eligible households who are two or more years away from homeownership and are working on debt and credit issues.
“Our partnership with Lakeland Bank to build safe, decent, affordable housing for those in need makes our communities stronger and all of our lives better. Home ownership provides the basis from where all good things can grow - safety, health, education and self-worth. It truly is the American Dream in action. We are grateful to have Lakeland Bank be a pillar of support in changing the lives of our homeowners for the better and improving communities with each home we build,” said Blair Schleicher Bravo, CEO, Morris Habitat for Humanity.
“With this grant the Housing Partnership has the opportunity to once again offer the IDA match savings program – which was discontinued for over 5 years!” said Jessica Padilla Gonzalez, executive director, Housing Partnership NeighborWorks Homeownership Center. “This match will provide much needed resources for our hard working families hoping to achieve homeownership.”
Community Impact Grants
The Community Impact Grant Program will provide grants to nonprofit organizations whose primary mission is to provide services that impact the environment, social, physical and/or mental well-being of the individuals, families, and communities within the Bank’s assessment areas. The following organizations were recently awarded a grant under this program:
- $100,000 (paid over five years) to Karen Ann Quinlan Hospice Foundation, Newton, N.J. – to establish a permanent endowment fund which will be used to support unreimbursed and under reimbursed care at the hospice center.
- $50,000 (paid over five years) to SCARC, Inc., Augusta, N.J. – to support a new community center currently being constructed in Augusta.
“This wonderful grant reinforces Lakeland Bank’s position as a leader in supporting the local nonprofit community in general and the Karen Ann Quinlan Hospice in particular. This gift, as a permanent endowment, will support unreimbursed and under reimbursed care at the Home for Hospice and allow us to provide the highest quality hospice care in your home or ours for years to come,” said John Quinlan, director of Foundation, Karen Ann Quinlan Hospice.
“We are thrilled to have Lakeland Bank as a partner with SCARC’s new community center in Augusta,” said Richard C. Lecher, Ph.D., chief executive officer of SCARC. “Lakeland is a true friend of SCARC.”
About the Grant Process
The program is non-competitive and there will be no public solicitations for applications. Prospective recipients and their programs will be nominated for consideration for a grant based upon an internal nomination process designed specifically for this program. The non-competitive grants will be awarded in the second and fourth quarters. Eligible organizations that provide the following services within the Bank’s assessment areas will be considered:
- Financial independence
- Homelessness solutions and affordable housing programs
- Education programs offering financial skill sets
- Youth programs and services including childcare and afterschool programs
- Emergency services including food, shelter and clothing
- Health and well-being services
About Lakeland Bank
Lakeland Bank is the wholly-owned subsidiary of Lakeland Bancorp, Inc. (NASDAQ:LBAI), which has $5.5 billion in total assets. The Bank operates 53 branch offices throughout Bergen, Essex, Morris, Ocean, Passaic, Somerset, Sussex, and Union counties in New Jersey including one branch in Highland Mills, New York; six New Jersey regional commercial lending centers in Bernardsville, Jackson, Montville, Newton, Teaneck and Waldwick; and one in New York to serve the Hudson Valley region. Lakeland also has a commercial loan production office serving Middlesex and Monmouth counties in New Jersey. Lakeland Bank offers an extensive suite of financial products and services for businesses and consumers. Visit LakelandBank.com for more information.
