NEWS
September 1, 2007
Institution for Savings Donates $250,000 to Expand and Restore Ipswich, Newburyport Athletic Facilities in Memory of War Veterans
The Institution for Savings, through its two Charitable Foundations, recently donated $250,000 towards to the restoration and expansion of two key athletic facilities in Newburyport and Ipswich, announced President Mark Welch recently.
In June, the Institution for Savings Charitable Foundation donated $100,000 to the RESTORE Our Stadium Committee for the restoration and renovation of World War Memorial Stadium at Newburyport High School. RESTORE is in the process of raising $1.5 million for the renovations to this historic landmark behind Newburyport High School and hopes to begin work in 2008.
Last month, the bank, through its Ipswich Charitable Foundation, donated $150,000 to the Friends of Ipswich Athletics to fund the construction of a new soccer and lacrosse playing field at Mile Lane. The field will be used by Ipswich High School soccer and lacrosse teams, as well as Ipswich Youth Soccer and Lacrosse leagues. Construction is underway, and the fields are expected to be ready for play this fall.
"Very simply, we believe in helping our communities," said Mr. Welch in announcing the gifts. "Generations of kids will play on these fields. Simultaneously, we are able to honor our veterans, men and women who have offered everything they have to defend our freedom. Our bank's vision is to have a positive impact on the lives of every person, business and organization in the communities we serve. This is a step in that direction."
The field projects come at a time when Ipswich and Newburyport, like many communities, suffer from a shortage of athletic field space. The renovation and expansion to these facilities field will allow a greater number of youth to use these fields, while at the same time commemorates the contributions of veterans who sacrificed their lives for their country, said Mr. Welch.
"The generosity of this gift is just overwhelming - we're thrilled," said Ipswich Superintendent of Schools Rick Korb in acknowledging the Ipswich field donation. "The Institution for Savings has truly become a wonderful partner within our community to help improve the quality of life for residents of all ages. This type of commitment doesn't come along every day, and I am honored, on behalf of all of our students and teachers, to accept such a remarkable gift."
"We're thrilled by this donation, " said RESTORE chair Mary Anne Clancy. "The Institution for Savings always steps up to the plate when there is a need in the community, and we couldn't ask for a better partner in a project so important to Newburyport."
