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First County Bank Foundation Makes Generous Multi-Year Pledge to Support Waveny's Financial Assistance Program

First County Bank Foundation Makes Generous Multi-Year Pledge to Support Waveny's Financial Assistance Program

Posted on November 8, 2018

Karen Kelly, Vice President, First County Bank Foundation; Tom Ferguson, Chairman, Board of Directors of Waveny LifeCare Network; Agnieszka Maciejewski, Assistant Vice President and Branch Manager, First County Bank; Cynthia Gorey, Vice President of Development at Waveny; Rey Giallongo, Chairman and CEO of First County Bank and President, First County Bank Foundation

Waveny LifeCare Network recently announced the launch of their Forever Generosity Campaign, to support the people and programs that make Waveny unique. Running out of money in retirement and not being able to pay for long term care is a major concern for older Americans, and as a nonprofit, Waveny’s programs address this fear of seniors outliving their savings.  A leading local funder, First County Bank Foundation, has made a multi-year pledge to support this key component of the fundraising effort.   

In the current environment of health care reimbursement, philanthropy is a vital component to Waveny’s ability to utilize therapeutic resources and enrichment programs to deliver the highest quality of person-centered care for all individuals throughout the continuum. The Forever Generosity Campaign is a $5 million charitable initiative to enhance programs and services, enrich financial support, and update technology and infrastructure. 

Enhancing the existing financial support or scholarship program is one of the key priorities of this initiative and First County Bank Foundation has pledged their support with an annual grant for the next five years.  Rey Giallongo, President of First County Bank Foundation says, “We are proud to partner with Waveny and help provide financial assistance for residents and families who cannot afford the full cost of their care.  Every individual deserves quality care as they age, and Waveny is an important local provider of eldercare.” 

According to Tom Ferguson, Board Chair for Waveny, “We award approximately $250,000 in financial aid each year, across all our programs and residences, to help those participants and residents who rely on assistance for their care.”  In recent years, Waveny has seen an increase in the amount of financial aid needed for prospective and current residents as well as participants in their programs.  As a nonprofit, mission-driven organization Waveny endeavors to keep residents in their care within the continuum, without regard to their ability to pay the full cost.  As Cynthia Gorey, Vice President of Development, says, “our goal is to increase the amount of financial aid awarded each year, through campaign gifts designated to this purpose, and to meet the scholarship needs of our program participants and residents.  Waveny is truly grateful to First County Bank Foundation for their contribution to this effort.”

Waveny LifeCare Network provides a nonprofit comprehensive continuum of healthcare to meet the needs of older adults. For more information, call 1-855-WAVENY-1 or visit their website: www.waveny.org. For more details about the Forever Generosity Campaign, please call Cynthia Gorey at 203-594-5446 or email Cynthia at [email protected].