First Foundation Inc. Awards 45 Nonprofits through Its ‘Supporting Our Communities’ Grant Program on GivingTuesday

Rhea-AI Summary

First Foundation (NASDAQ: FFWM) has awarded $635,000 in grants to 45 nonprofits as part of its ‘Supporting Our Communities’ initiative, celebrating its 10th anniversary. This year’s funding expands to new markets including Florida and Texas, emphasizing community development in areas like affordable housing and workforce development. The program aims to foster sustainable growth in low- and moderate-income communities. First Foundation also provides strategic support to its nonprofit partners.

Positive

• Awarded $635,000 to 45 nonprofits, enhancing community support.
• Expanded initiatives into Florida and Texas markets, increasing outreach.
• Provides strategic planning support alongside cash grants to nonprofit partners.

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• None.

DALLAS--(BUSINESS WIRE)-- First Foundation Inc. (NASDAQ: FFWM), a financial services company with two wholly-owned operating subsidiaries, First Foundation Advisors and First Foundation Bank, today announced that it has awarded $635,000 to 45 nonprofits across its markets through its ‘Supporting Our Communities’ philanthropy initiative.

The recipient announcement comes on GivingTuesday to honor the independent nonprofit and a global movement that inspires hundreds of millions of people to give, collaborate, and celebrate generosity.

In its tenth year, First Foundation’s ‘Supporting Our Communities’ initiative 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 celebrate the 10th anniversary of First Foundation’s ‘Supporting Our Communities’ initiative,” said Scott F. Kavanaugh. “This year’s recipients include nonprofit organizations in our newly entered markets in Florida and Texas, in addition to expanding our support to a larger number of total organizations throughout our footprint. As the organization continues to expand, we strive to stay close to the principle of remaining connected to the communities in which we live and serve. We work to develop meaningful relationships with these local nonprofit partners who are making a significant impact in their communities.”

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 forty-five 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 2023 Supporting Our Communities grant recipients include:

• Accessity, San Diego, CA
• Anaheim Family YMCA, Anaheim, CA
• Andson Inc, Las Vegas, NV
• Blessings In A Backpack Inc, Fort Myers, FL
• Bracken's Kitchen, Garden Grove, CA
• Bridge Builders Foundation, Los Angeles, CA
• Child Creativity Lab, Santa Ana, CA
• Children's Heart Foundation, Las Vegas, NV
• CityTeam Ministries, Oakland, CA
• Credit.org, Riverside, CA
• Dallas Hope Charities, Dallas, TX
• El Proyecto Del Barrio Inc, Baldwin Park, CA
• Feeding Hawaii Together, Honolulu, HI
• Galilee Center, Mecca, CA
• Green Technical Education and Employment, Sacramento, CA
• Habitat for Humanity of Coachella Valley, Palm Desert, CA
• Habitat for Humanity of Collier County, Naples, FL
• Haven Neighborhood Services, Los Angeles, CA
• Hawai'i Alliance for Community Based Economic Development, Honolulu, HI
• Imperial Valley Food Bank, Imperial, CA
• Innovative Housing Opportunities Inc, Santa Ana, CA
• Joslyn Center, Palm Desert, CA
• Junior Achievement of Southern Nevada, Las Vegas, NV
• Lanakila Pacific, Honolulu, HI
• Los Angeles Education Partnership, Los Angeles, CA
• Lovepacs Plano, Plano, TX
• Microenterprise Collaborative of Inland Southern California, Riverside, CA
• NAACP Collier County, Naples, FL
• Neighborhood Housing Services of the Inland Empire, Riverside, CA
• Nevada Business Opportunity Fund, Las Vegas, NV
• Olive Crest, Orange County, CA
• Orange County United Way, Santa Ana, CA
• Pace Center for Girls Collier at Immokalee, Immokalee, FL
• Pace Center for Girls Hillsborough, Tampa, FL
• Rebuilding Together, San Bernardino, CA
• Sacramento Promise Zone’s Financial Institution Partner Opportunity, Sacramento, CA
• SCORE Los Angeles, Los Angeles, CA
• Solita’s House, Inc., Tampa, FL
• Southern Dallas Progress Community Development Corporation, Dallas, TX
• Starability Foundation Inc, Naples, FL
• Taste the Impact Foundation, Immokalee, FL
• The Naples Players, Naples, FL
• The Wooden Floor for Youth Movement, Santa Ana, CA
• TMC Community Capital, Oakland, CA

“True community is not just about being geographically close to our nonprofit partners, it is working together to build strong communities with shared goals and a common purpose,” 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.

“Our recent expansion to serve the Florida market provided us the opportunity to include nine Florida nonprofits in our ‘Supporting Our Communities’ program. Employee engagement with local nonprofits in both Hillsborough and Collier Counties allowed us to quickly identify organizations doing impactful work in those communities,” said Emily Sukman, Community Engagement Officer.

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/20221129006114/en/

Shannon Wherry

Director of Corporate Communications

swherry@ff-inc.com

(469) 207-9482

Source: First Foundation Inc.

FAQ

What is the purpose of First Foundation's 'Supporting Our Communities' initiative?

The initiative aims to drive community growth and sustainability in low- and moderate-income areas through support for affordable housing, workforce development, and financial literacy.

How much funding did First Foundation distribute in 2023?

First Foundation awarded $635,000 to 45 nonprofits in 2023.

Which new markets did First Foundation enter?

First Foundation expanded its operations into Florida and Texas.

What types of organizations received grants from First Foundation?

The grants were awarded to nonprofits focused on community development, including affordable housing and economic development.

What anniversary did First Foundation celebrate with this funding announcement?

First Foundation celebrated the 10th anniversary of its 'Supporting Our Communities' initiative.