The Clarence E Mulford Trust
- Assets
- $4.6m
- Revenue
- $635.3k
- Investments
- $4.4m
- Employees
- 0
- Location
- Fryeburg, ME
- Founding
- 12/1965
- Data as of
- 12/2023
- 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 12/2023, Clarence E Mulford Trust generated $635.3k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $805.8k during the year ending 12/2023. While expenses have increased by 3.1% per year over the past 5 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 74 individual grants totaling $2,773,000. 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 |
|---|---|---|---|
Andrew P Pierce Co-Trustee | 5 | $34,645 | |
David R Hastings III Co-Trustee | 5 | $34,645 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $3,469 |
| Dividends & Interest | $456,210 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $175,635 |
| Capital Gain Net Income | $175,635 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $635,314 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $69,290 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $8,060 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $3,020 |
| Total operating and administrative expenses | $82,505 |
| Contributions, gifts, grants paid | $723,300 |
| Total expenses and disbursements | $805,805 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $193,410 |
| 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 | $4,614,199 |
| 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 $723,300 in support to 21 organizations.
| Grant Recipient | Amount |
|---|---|
AUSTIN BEMIS CEMETERY ASSOCIATION PURPOSE: OPERATING COST SUPPORT | $500 |
BRADLEY UNITED METHODIST CHURCH PURPOSE: OPERATING COST SUPPORT | $500 |
CHURCH OF THE NEW JERUSALEM PURPOSE: OPERATING COST SUPPORT | $3,000 |
FRYEBURG ACADEMY PURPOSE: GEN FUND, CAMPUS IMPROVEMENTS, CIRRICULM DEVELOPMENT | $480,504 |
EASTERN SLOPE AVIATION ACADEMY PURPOSE: TOWARDS AIRCRAFT TUGS | $6,664 |
FRYEBURG BEAUTIFICATION PROGRAM PURPOSE: LANDSCAPING & BEAUTIFICATION | $5,000 |