Editor’s Note: An earlier version of this story misspelled David Davison’s last name.
American Savings Foundation senior officer Maria Falvo, who for more than a decade has overseen the New Britain nonprofit’s growing scholarship program, has been elevated to a newly formed No. 2 post.
Falvo assumed her new role at the start of the year with the blessing of the foundation’s board of directors.
She reports to President and CEO David Davison, who said Tuesday the promotion is recognition for Falvo’s leadership and not to be taken as a sign that he is preparing to step aside.
Falvo joined the foundation 11 years ago and was promoted in 2004 to senior program officer.
She has been primarily responsible for turning its college scholarship program into one of the premier programs in New England, Davison said.
More recently, he said, Falvo has taken on increasing responsibilities for managing the foundation, and the stewardship of its endowment.Â
A native of Springfield, Falvo currently resides in Newington. She holds a bachelor’s degree from Syracuse University and earned her master’s in organizational communication at Central Connecticut State University.
She is currently pursuing an MBA with a concentration in finance at the University of Connecticut.
The foundation is a 16-year-old legacy of former American Savings Bank in New Britain, now part of TD Bank. It has contributed more than $30 million in grants to nonprofits and scholarships in 64 towns.
