Workflow
Provident Bank Announces $950,000 in NRTC Funding Awards to Ten New Jersey Non-Profit Organizations
PFSProvident Financial Services(PFS) GlobeNewswire News Room·2025-03-25 12:00

Core Points - Provident Bank has awarded 950,000infundingtotennon−profitorganizationsthroughtheNewJerseyDepartmentofCommunityAffairs′NeighborhoodRevitalizationTaxCredit(NRTC)Programforfiscalyear2025[1][2]−Thefundingwillsupportrevitalizationplansfocusingonhousing,economicdevelopment,entrepreneurship,jobtraining,socialservices,recreationalactivities,andopenspaceimprovements[1][2]−TheNRTCProgramaimstorejuvenateneighborhoodsatriskofdownturnsthroughcommunity−drivenstrategiesandcorporatefinancialcontributions[4][5]FundingDistribution−ClintonHillCommunityActionreceived950,000 in funding to ten non-profit organizations through the New Jersey Department of Community Affairs' Neighborhood Revitalization Tax Credit (NRTC) Program for fiscal year 2025 [1][2] - The funding will support revitalization plans focusing on housing, economic development, entrepreneurship, job training, social services, recreational activities, and open space improvements [1][2] - The NRTC Program aims to rejuvenate neighborhoods at risk of downturns through community-driven strategies and corporate financial contributions [4][5] Funding Distribution - Clinton Hill Community Action received 100,000 for revitalization in Newark [3] - Greater Bergen Community Action received 50,000forimprovementsinGarfield[3]−HANDS,Inc.received50,000 for improvements in Garfield [3] - HANDS, Inc. received 50,000 for advancements in Orange [3] - Isles, Inc. received 150,000foryouthdevelopmentandcommunityrevitalizationinTrenton[3]−JewishRenaissanceFoundationreceived150,000 for youth development and community revitalization in Trenton [3] - Jewish Renaissance Foundation received 150,000 for the Perth Amboy Alliance for Community 2025 [3] - New Jersey Community Development Corporation received 100,000forimprovementsinPaterson[3]−NORWESCAPSouthMainStreetreceived100,000 for improvements in Paterson [3] - NORWESCAP South Main Street received 50,000 for revitalization in Phillipsburg [3] - NORWESCAP Sussex Borough received 50,000forrevitalizationinSussexBorough[3]−PatersonHabitatforHumanityreceived50,000 for revitalization in Sussex Borough [3] - Paterson Habitat for Humanity received 150,000 for community development in Paterson [3] - Perth Amboy Redevelopment Team received 100,000forcommunityimprovementsinPerthAmboy[3]AboutProvidentBank−ProvidentBank,foundedin1839,isNewJersey′soldestcommunity−focusedfinancialinstitutionwithassetsof100,000 for community improvements in Perth Amboy [3] About Provident Bank - Provident Bank, founded in 1839, is New Jersey's oldest community-focused financial institution with assets of 24.05 billion as of December 31, 2024 [7] - The bank offers a range of financial solutions through 140 branches across New Jersey and parts of New York and Pennsylvania, as well as mobile and online banking [7] - Provident Bank also provides fiduciary and wealth management services through its subsidiary, Beacon Trust Company, and insurance services through Provident Protection Plus, Inc. [7]