Seniors and Metro New York: Where TD Bank’s Affordable Housing Grants Are Going

As we've noted before, TD Bank’s charitable giving has embraced areas including affordable housing, financial literacy and the environment, but lately, affordable housing has emerged as a higher priority for this corporate funder, especially in the U.S. A new set of grants was just announced.

Related: A Canadian Bank That Supports U.S. Housing Projects for Low-Income Families

To celebrate its 10th annual “Housing for Everyone” grant competition program, the TD Charitable Foundation gave away $2.5 million in grants to boost affordable housing efforts along the East Coast. Here’s how the recent grants broke down by state:

  • Connecticut – 1
  • Delaware – 1
  • Florida – 3
  • Maine – 1
  • Massachusetts – 3
  • New Hampshire – 1
  • New Jersey – 4
  • New York – 5
  • Pennsylvania – 2
  • Rhode Island – 1
  • South Carolina 1
  • Vermont – 1
  • Virginia – 1

Those are the locations of TD bank branches, and the corporate headquarters are in Cherry Hill, New Jersey. So that may partially explain the strong grantmaking focus on New Jersey and New York.

"Each year, it is our pleasure to support housing agencies that are making a difference in the community," said Mike Rayder, donation and foundation manager at TD Charitable Foundation. "Affordable housing affects thousands, and we are proud to partner with agencies to address this critical need."

In 2015, Housing for Everyone focused on affordable housing for senior citizens. Grant requests were considered for housing groups that served the over-55 population. According to TD Bank, “High housing costs force a third of those aged 50 and over and 70 percent of those aged 80 and over to spend more than 30 percent of their income on housing that may or may not fit their needs.”

In general, these grants go to housing-related programs and services for very low, low, and moderate-income individuals and families.

The TD Charitable Foundation, established in 2002, has given out more than $148.1 million to nonprofits in the U.S. and Canada.

Each year has a theme, but in light of the aging population, this may be one worth repeating in the years ahead.

To learn more about the bank’s Housing for Everyone grant competition, you can search for guidelines for the state you’re based in. The competition typically opens in July and closes in late August each year, with awards distributed in November. Housing grants are worth a flat rate of $100,000 each.

The competition is broken up by market, with the highest number of grants earmarked for New York City and suburban New York, followed by Philadelphia and southern New England. To learn about other community efforts that TD Bank supports, like financial literacy/education and the environment, check out the bank’s Corporate Responsibility page.