Florence Bank Announces $100,000 Gift to Square One
SPRINGFIELD — Surrounded by Square One staff and preschool children, leaders from Florence Bank recently pledged the latest gift to Square One’s “Back to Square One” capital campaign.
The announcement of Florence Bank’s $100,000 gift came on Oct. 10 as Square One works to build a $15.5 million center at the location where its building was destroyed by a tornado in 2011. Slated to open in the spring of 2025, the new, 26,000-square-foot facility will include four preschool classrooms, an outdoor learning and play area, a full-service family support center, and administrative offices.
“We are proud to be a good neighbor to organizations in the communities we serve,” Florence Bank President and CEO Matt Garrity said. “Square One offers a broad range of unique programs and services that benefit every family served, and we are honored to be able to help the organization advance its campaign to fund a new building that will allow it to enhance the learning and enrichment of so many young lives.”
Florence Bank is a mutual savings bank that serves the Pioneer Valley through 12 full-service branch locations in Hampshire and Hampden counties.
“We are overwhelmed by Florence Bank’s very generous support for this important project,” said Dawn DiStefano, Square One’s president and CEO. “It truly takes a village to provide our community’s children with all the tools, resources, and nurturing they need to be successful. We are immensely grateful to Florence Bank and all of the wonderful supporters who share in our mission and vision for a bright future for all children.”
Currently, the campaign is approximately $2 million shy of its $15.5 million goal. Most recently, the MassMutual Foundation announced a $1 million gift to the initiative. In June, Balise Auto, another organization with deep roots in Springfield’s South End neighborhood, announced a $1 million gift to the project.
Early support for Square One’s project came from the Davis Foundation, PeoplesBank, the city of Springfield, and the state of Massachusetts. Springfield Mayor Domenic Sarno awarded nearly $1 million in funding, while state Rep. Carlos Gonzalez and state Sen. Adam Gomez sponsored and secured a $2 million earmark in the state budget to support Square One’s expansion of services.
These gifts, paired with a $6 million bond issued by MassDevelopment and the cash equivalent of $4 million in new market tax credits, have positioned the campaign for success.