First Foundation Awards $450,000 to Nonprofits through Its ‘Supporting Our Communities’ Grant Program

Rhea-AI Summary

First Foundation (NASDAQ: FFWM) has announced the recipients of its ninth annual ‘Supporting Our Communities’ philanthropy initiative, focusing on affordable housing, workforce development, and economic growth. This year, 30 nonprofit organizations were selected to receive grants aimed at enhancing community development in low- and moderate-income areas. The initiative also offers educational support and strategic planning for nonprofits, reinforcing First Foundation's commitment to community engagement. Future plans include expanding the program into Florida following its recent merger with TGR Financial.

Positive

• Continued investment in community development through grants to 30 nonprofit organizations.
• Educational support and strategic planning assistance for nonprofit partners.
• Expansion plans into Florida, potentially broadening impact and community reach.

Negative

• None.

IRVINE, Calif.--(BUSINESS WIRE)-- First Foundation Inc. (NASDAQ: FFWM) (“First Foundation”), a financial services company with two wholly-owned operating subsidiaries, First Foundation Advisors and First Foundation Bank, today announced the recipients of its ‘Supporting Our Communities’ philanthropy initiative.

In its ninth year, First Foundation continues to build the legacy of its philanthropy programs through an expanded Supporting Our Communities initiative that includes grants for organizations that are working on the community development pillars of affordable housing, work force development, community service, economic development, and entrepreneurship.

“We are thrilled to continue our ‘Supporting Our Communities’ initiative this year and gain more nonprofit and community partners throughout our regions,” said Scott F. Kavanaugh. “As we grow we always want to stay close to our founding principle of remaining connected to the communities in which we live and serve, and develop meaningful relationships with these wonderful partners who are helping when it matters most.”

The goal of the program is to drive community growth and sustainability in low- and moderate-income communities through small business development, entrepreneurship, access to affordable housing, and financial literacy education.

This year’s list of nonprofit recipients was compiled to include thirty organizations that are focused on causes important to First Foundation. More than half of the grants were selected based on specific programmatic requirements that will fund programs and services in the community.

The 2022 Supporting Our Communities grant recipients include:

• Accessity, San Diego, CA
• Anaheim Family YMCA, Anaheim, CA
• California Capital Financial Development Corporation, Sacramento, CA
• Casa Youth Shelter, Seal Beach, CA
• Desert Arc, Pam Desert, CA
• Family Promise of Orange County, Orange, CA
• Feeding Hawaii Together, Honolulu, HI
• Gailee Center, Mecca, CA
• Girls Athletic Leadership School, Las Vegas, NV
• Habitat for Humanity of Coachella Valley, Palm Desert, CA
• Habitat for Humanity of Orange County, Santa Ana, CA
• Hart Community Homes/Monkey Business, Fullerton, CA
• Healthcare & Elder Law Programs, Torrance, CA
• Helping Hands of Vegas Valley, Las Vegas, CA
• ICA Fund, Oakland, CA
• Imperial Valley Food Bank, Imperial, CA
• Joslyn Center, Palm Desert, CA
• Lanakila Pacific, Honolulu, HI
• Los Angeles Education Partnership, Los Angeles, CA
• Neighborhood Housing Services of the Inland Empire, Riverside, CA
• Nevada Business Opportunity Fund, Las Vegas, NV
• Omni Nano, Los Angeles, CA
• Orange County Rescue Mission, Santa Ana, CA
• Orange County United Way, Santa Ana, CA
• Quiet Storm Foundation, Las Vegas, NV
• Rebuilding Together, San Bernardino, CA
• SCORE Los Angeles, Los Angeles, CA
• SoLa I CAN Foundation, Los Angeles, CA
• Taller San Jose Hope Builders, Santa Ana, CA
• Villa Esperanza Services, Pasadena, CA

“As the philanthropic landscape continues to change, First Foundation enhanced its commitment to connecting to our community through nonprofits,” said Sylvia M. Figueroa, Director of Community Development & CRA Officer.

First Foundation provides education, consultation, and strategic planning help to its nonprofit partners as they continue to navigate the current philanthropic environment. In addition to the cash grant, First Foundation provides in-kind professional guidance related to the organizations’ daily activities, including: fundraising; donor cultivation and stewardship; gift planning design; staff and board training; campaign planning; board building; development of critical policies and protocols; organizational planning; and counsel on ensuring best practices in their own fiscal matters such as cash management, wealth planning, and investment management.

“The strategic guidance and professional services our employees provide help nonprofits further their programs that we believe will create the types of communities we all hope to live in and take pride in.” said Emily Sukman, Community Engagement Officer.

Stay tuned for additional information about expanding Supporting Our Communities to serve the newly-entered Florida market. Given the timing of the close of the merger with TGR Financial just before year end, First Foundation plans to thoroughly examine the nonprofit landscape there and build upon existing relationships First Florida Integrity Bank has with local organizations.

For more information about First Foundation’s efforts in the community and to learn about past and current ‘Supporting Our Communities’ nonprofit partners, please visit: https://www.firstfoundationinc.com/community/soc.

About First Foundation:

First Foundation Inc. (NASDAQ: FFWM) and its subsidiaries offer personal banking, business banking, and private wealth management services, including investment, trust, insurance, and philanthropy services. This comprehensive platform of financial services is designed to help clients at any stage in their financial journey. The broad range of financial products and services offered by First Foundation are more consistent with those offered by larger financial institutions, while its high level of personalized service, accessibility, and responsiveness to clients is more aligned with community banks and boutique wealth management firms. This combination of an integrated platform of comprehensive financial products and personalized service differentiates First Foundation from many of its competitors and has contributed to the growth of its client base and business. Learn more at firstfoundationinc.com, or connect with us on LinkedIn and Twitter.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220120005135/en/

Tyler Resh

First Foundation Inc.

Director of Marketing & Strategy

(949) 202-4131

tresh@ff-inc.com

Source: First Foundation Inc.

FAQ

What is First Foundation's recent philanthropic initiative about?

First Foundation's recent initiative, ‘Supporting Our Communities’, focuses on grants for nonprofits working in affordable housing, economic development, and community service.

How many organizations received grants from First Foundation in 2022?

In 2022, First Foundation awarded grants to 30 nonprofit organizations as part of its philanthropy initiative.

What are the key areas targeted by First Foundation's philanthropy?

The key areas targeted include affordable housing, workforce development, community service, and economic development.

What are First Foundation's future plans regarding its philanthropic efforts?

First Foundation plans to expand its ‘Supporting Our Communities’ initiative into Florida, leveraging its recent merger with TGR Financial.

What type of support does First Foundation provide to nonprofits?

First Foundation provides cash grants and in-kind professional guidance, including fundraising support and organizational planning to its nonprofit partners.