The Clarence E Mulford Trust
- Assets
- $4.9m
- Revenue
- $944.8k
- Investments
- $4.4m
- Employees
- 0
- Location
- Fryeburg, ME
- Founding
- 12/1965
- Data as of
- 12/2021
- EIN
- 01-0247548
Organization Overview
The Clarence E Mulford Trust is located in Fryeburg, ME. The organization was established in 1965. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Clarence E Mulford Trust is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Clarence E Mulford Trust generated $944.8k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 23.7% each year . All expenses for the organization totaled $777.0k during the year ending 12/2021. While expenses have increased by 3.9% per year over the past 3 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Clarence E Mulford Trust has awarded 35 individual grants totaling $1,309,700. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter G Hastings Co-Trustee | 5 | $34,163 | |
David R Hastings III Co-Trustee | 5 | $34,163 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $19 |
| Dividends & Interest | $436,342 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $508,440 |
| Capital Gain Net Income | $508,440 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $944,801 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $68,326 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $6,558 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $370 |
| Total operating and administrative expenses | $77,479 |
| Contributions, gifts, grants paid | $699,500 |
| Total expenses and disbursements | $776,979 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $490,043 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $4,897,273 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, The Clarence E Mulford Trust has awarded $699,500 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
FRYEBURG ACADEMY PURPOSE: GEN FUND, ADMIN SECUIRTY, INFIRMARY, & TECHNOLOGY | $469,650 |
TOWN OF FRYEBURG MAINE PURPOSE: PROGRAM SUPPORT & OPERATING COSTS | $68,500 |
Fryeburg, ME PURPOSE: PROGRAM SUPPORT & OPERATING COSTS | $64,500 |
Conway, NH PURPOSE: OPERATING COST SUPPORT | $20,000 |
Conway, NH PURPOSE: JOCKEY CAP PROJECT | $20,000 |
MT WASHINGTON VALLEY ADULT DAY CENTER PURPOSE: FUNDING FOR FRYEBURG OLDER ADULTS | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Harold Alfond Foundation Portland, ME | $813,380,857 | $317,083,832 |
Libra Foundation Owen W Wells Trustee Portland, ME | $194,515,715 | $7,192,031 |
Thomas W Haas Foundation Greenland, NH | $135,774,612 | $23,898,654 |
Endowment For Health Inc Concord, NH | $94,601,301 | $13,835,099 |
Peter And Anna Kolchinsky Foundation Portsmouth, NH | $32,887,718 | $6,933,856 |
Southeast Land Trust Of New Hampshire Epping, NH | $33,243,290 | $7,653,430 |
P D Merrill Charitable Tr U-A Dtd 11-02-06 Portland, ME | $0 | $21,552 |
Cogswell Benevolent Trust Manchester, NH | $30,218,866 | $3,198,949 |
Gloria C Mackenzie Foundation Inc East Millinocket, ME | $24,725,782 | $9,772,129 |
Burke Family Foundation C/O People's United Bank Cape Elizabeth, ME | $0 | $295,914 |
Morton-Kelly Charitable Tr Portland, ME | $19,003,514 | $4,559,589 |
Hank And Lynn Hopeman Foundation Inc Sunapee, NH | $22,635,680 | $2,787,144 |