Machias Savings Bank Community Development Foundation

Organization Overview

Machias Savings Bank Community Development Foundation is located in Machias, ME. The organization was established in 1998. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Machias Savings Bank Community Development Foundation 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, Machias Savings Bank Community Development Foundation generated $253.5k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 30.1% each year . All expenses for the organization totaled $249.5k during the year ending 12/2023. While expenses have increased by 26.7% per year over the past 9 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 2015, Machias Savings Bank Community Development Foundation has awarded 211 individual grants totaling $1,624,216. 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.

Mission & Program ActivityExcerpts From the 990PF Filing

TAX YEAR

2023

Describe the Organization's Program Activity:

Part 3 - Line 4a

SEE PART XV


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Board, Officers & Key Employees

Name (title)Compensation
Telford Allen III
Director
$0
Luann Ballesteros
Director
$0
Chris Fitzpatrick
Director
$0
Robert W Foster
Director
$0
Brent K Hartley
Director
$0
Zachary Means
Director
$0

Financial Statements

Statement of Revenue
Contributions, Gifts, Grants & Similar $0
Interest on Savings $372
Dividends & Interest $68,050
Net Rental Income$0
Net Gain on Sale of Assets $185,054
Capital Gain Net Income $185,054
Net ST Capital Gain $0
Income Modifications $0
Profit on Inventory Sales $0
Other Income $0
Total Revenue $253,476

Grants Awarded

Over the last fiscal year, Machias Savings Bank Community Development Foundation has awarded $242,750 in support to 35 organizations.

Grant RecipientAmount

ADOPT-A-BLOCK OF AROOSTOOK

PURPOSE: PROGRAM SUPPORT GRANT

$5,000

AVESTA HOUSING DEVELOPMENT CORPORATION

PURPOSE: PROGRAM SUPPORT GRANT

$2,500

BETH C WRIGHT CANCER RESOURCE CENTER

PURPOSE: PROGRAM SUPPORT GRANT

$5,000

COMMUNITY CARE

PURPOSE: PROGRAM SUPPORT GRANT

$5,000

COMMON THREADS OF MAINE

PURPOSE: PROGRAM SUPPORT GRANT

$2,500

BIG BROTHERS BIG SISTERS OF SOUTHERN MAINE

PURPOSE: PROGRAM SUPPORT GRANT

$2,500
View Grant Profile

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