2025 Annual Report

Richard Stafford
President
TowerCares Foundation

MESSAGE FROM THE PRESIDENT

2025 marked another extraordinary milestone year for the TowerCares Foundation, we surpassed $4 million in total giving!

In just a decade, your generosity has helped us provide over $4 million in grants, donations, and scholarships directly supporting military service members, Veterans, Defense community civilians, and children in need across our community.

Each dollar represents an opportunity created, a burden lifted, and a life positively impacted.

To celebrate this achievement, we made a special $40,000 donation to four of our charity partners. The Boys & Girls Club of Annapolis & Anne Arundel County, Fort Meade Alliance Foundation, Horizon Day Camp, and Neighbor Ride each received $10,000 from TowerCares, further extending the reach of our mission.

What made this even more meaningful is that the organizations were selected by Tower Federal Credit Union (Tower) employees. Their commitment to giving back and enthusiastic support for our mission has been at the heart of our success since the very beginning.

Expanding Our Impact

In 2025, we continued to grow both our reach and our impact:

  • Supported 140 charity partners, including 21 new organizations, expanding our ability to meet increased needs across our community
  • Awarded 40 college scholarships totaling $200,000 to students pursuing STEM and Foreign Language Linguistics majors. More than half of this year’s winners have military or DoD affiliation, further strengthening our commitment to those who serve our country.
  • Launched a new partnership with the UMBC Cybersecurity Institute (UCI), helping to strengthen Maryland’s future cybersecurity workforce. This groundbreaking three-year partnership established a dedicated sponsorship fund within the prestigious UMBC Cyber Scholars Program, equipping students with the skills needed for careers in cybersecurity, AI, and date science.

Tower Classic Tops $1 Million in Giving

Our annual charity golf tournament also reached a new milestone, raising a record $72,000 this year. This pushed our lifetime giving to over $1 million for the Johns Hopkins Children’s Center to support critically ill children and their families.

Service in Action

Giving back also involved showing up. During the 9/11 National Day of Service, a team of 40 Tower employees volunteered their time at local charity partners and surprised first responders with appreciation lunches. It was a small gesture with a powerful message: honoring those who dedicate their lives to protect and serve every day.

Small Change, Big Difference

The Pennies for Change program continued strong throughout 2025. With every card swipe, Tower members contribute to something bigger. This year alone, Pennies for Change generated $300,000 towards the TowerCares mission, bringing its total impact to $1.4 million since launching in 2021.

Fighting Hunger Together

We ended 2025 on a high note with a $70,000 donation to local food banks to help fight food insecurity in our community and restock pantry shelves depleted by the federal government shutdown.

The Anne Arundel, Capital Area, Howard County, and Maryland Food Banks each received $15,000; FISH of Laurel and the Fort Meade Spouses’ Club each received $5,000.

Thank You

On behalf of the TowerCares team, thank you for your support. None of this is possible without you. Your continued support fuels our mission, strengthens our partnerships, and expands our reach into the communities we serve.

Together, we’re making a real difference. Because of you, we are able to support our military heroes, uplift our Veterans, and improve the futures of children and families in need. We are proud to stand beside those who serve and sacrifice for our country.

Statement of Activities

 20252024

Revenue

Contributions Received$855,927$851,175
Investment Return$5,869$8,882
Total Revenue & Support$861,796$860,057
Total Expenses($111,584)($117,781)
Expense Revenue & Support over expenses, before charitable donations$750,212$742,276
Charitable Donations($1,182,279)($737,497)
Net Increase in Net Assets($432,067)$4,779
Net Assets, beginning of year$1,089,557$1,084,778
Net Assets, end of year$657,490$1,089,557

Statement of Financial Position

 As of December 31, 2025As of December 31, 2024

Assets

  
Cash & cash equivalents$862,233$1,094,988
Other Assets$4,007$5,764
Total Assets$866,240$1,100,752
 
Total Liabilities$208,750$11,195
Net Assets  
Unrestricted net assets$657,490$1,089,557
Temporary restricted net assets$0$0
Total Net Assets$657,490$1,089,557
 
Total Liabilities and Net Assets$866,240$1,100,752

TowerCares Foundation Board of Directors

R. Allen Brisentine, III
Director/Chairman

Richard Stafford
Director/President

Tom Poe
Director/Treasurer

Alvin W. Smith
Director/Secretary

Brian Barrentine
Director

Martin M. Breland
Director

Monte Dzurenko
Director

Arland A. White, Jr.
Director

Organizations We Support

The TowerCares Foundation provided over $982,000 in grants and donations to our charity partners in 2025. Here are just a few of the year’s highlights. Click here to view more organizations we support.

Defense Intelligence Memorial Foundation

 

TowerCares welcomed the Defense Intelligence Memorial Foundation (DIMF) as a new charity partner in 2025. DIMF honors fallen officers of the defense community through scholarships and philanthropy. The TowerCares grant supported the DIMF Scholarship Program, to provide scholarships for children of defense intelligence professionals killed in the line of duty. We are proud to support organizations like DIMF that support the families and children of those heroic individuals who paid the ultimate sacrifice protecting our freedoms.

Maryland Food Bank

 

TowerCares provided funds to support the Maryland Food Bank’s Summer and Supper Club program as well their School Pantry program. The Summer and Supper Club provides healthier food options for children over the summer who qualify for free or reduced meals during the school year. They serve nearly 70,000 meals across 50 locations. The School Pantry provides a reliable source of healthy food to students in K-12 in over 200 schools. The Maryland Food Bank is leading the movement to end hunger in our state through an extensive network of community and organizational partners that distribute food to those in need. We are proud to partner year-round with local food banks and pantries to help fight food insecurity in our communities.

Maryland Veterans Trust Fund

 

TowerCares welcomed the Maryland Veterans Trust Fund as a new charity partner in 2025. The Maryland Veterans Trust Fund helps lead Veterans, service members, and their families through life’s transitions by providing financial assistance and referral services during times of temporary crisis. The TowerCares grant provided financial assistance to Maryland’s Veterans and active-duty military who are experiencing temporary financial needs such as mortgage, rent, car ownership expenses, and utilities. We are proud to partner with organizations like the Maryland Veterans Trust Fund that support the everyday needs of our military heroes and Veterans.

Neighbor Ride

 

To celebrate our reaching the $4 million in giving milestone, TowerCares made a special $10,000 donation in December to long-time charity partner Neighbor Ride. Neighbor Ride enhances the health and quality of life for seniors living in Howard County by providing affordable, passenger-focused transportation services through a reliable, volunteer-based system. The donation helped fund the Driving Heroes program, which provides subsidized transportation for local low-income Veterans. These rides are essential for their medical, social, wellness, education and employment needs. Many of the program’s volunteer drivers are also Veterans. We are honored to partner with Neighbor Ride, to help meet the daily transportation needs of our nation’s Veterans in appreciation for their service and sacrifice.

2025 TowerCares Foundation Scholarships

We awarded 40 $5,000 college scholarships to an impressive group of young men and women pursuing careers in STEM fields and Foreign Language Linguistics.

Some of the appreciative responses we received from our winners:

“I’m incredibly honored and grateful for the support the TowerCares scholarship award provides as I work toward my goal of becoming a physician. This scholarship not only lightens the financial burden of my education, but also affirms my commitment to making a meaningful impact through medicine. I’m especially inspired by TowerCares’ mission to support students who survive to bring about the change our world needs. With this encouragement, I feel even more motivated to pursue a future where I can contribute to a brighter future for all.”

    ~Sarah Voigt, Medicine Major, Villanova University

“Receiving the TowerCares scholarship is an incredible honor. This scholarship will enable me to not only continue my education to become a computer engineer but eliminate the burden of some of the debt that a valuable college education comes with. It’s a great help to my family who has recently dealt with medical expenses on top of other challenges. Thank you TowerCares for caring about me, this is truly a blessing.”

    ~Cody Johnson, Computer & Information Sciences Major, McDaniel College

“Thank you so much for this amazing blessing, I cannot express in words how much receiving this scholarship means to me. I am astonished by the immense generosity of the TowerCares Foundation and am truly grateful to each individual who has built this foundation to where it is today. Again, thank you so much for your kindness and please know that you have left a lasting impact on me.”

    ~Emily Mitroka, Biochemistry & Biophysics Major, University of Maryland Baltimore County

“This scholarship means that my hard work and dedication has been seen! I can worry less about the financials of college and focus more on what matters, the studies!”

    ~Harrison Gilbert, Computer Engineering Major, Rochester Institute of Technology

“This scholarship means the world to me! I audibly gasped when I saw the email, and I just wanted to say thank you! It’s a huge weight off my shoulders, knowing I can now focus more on learning and less on stressing about how to pay for college! Thank you so much.”

    ~Candy Asham, Biology Major, University of Virginia