Borman Family Foundation
- Assets
- $10.6m
- Revenue
- $133.1k
- Investments
- $10.1m
- Employees
- 0
- Location
- Oakland, ME
- Founding
- 11/1999
- Data as of
- 07/2024
- EIN
- 01-0522171
Organization Overview
Borman Family Foundation is located in Oakland, ME. The organization was established in 1999. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., 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. Borman Family 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 07/2024, Borman Family Foundation generated $133.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (25.6%) each year. All expenses for the organization totaled $462.0k during the year ending 07/2024. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Borman Family Foundation has awarded 212 individual grants totaling $2,134,887. 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 |
|---|---|---|---|
Adam Borman Associate Director | 0.5 | $2,000 | |
Matthew Borman Associate Director | 0.5 | $2,000 | |
Robert Borman Jr Associate Director | 0.5 | $2,000 | |
Megan Proctor Associate Director | 0.5 | $2,000 | |
Kate Borman President | 6.5 | $6,000 | |
Barbara Metzdorff Vice President | 6 | $10,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $10 |
| Dividends & Interest | $33,892 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$13,977 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $113,173 |
| Total Revenue | $133,098 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $32,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $9,408 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $1,840 |
| Printing and publications | $0 |
| Other expenses | $3,208 |
| Total operating and administrative expenses | $71,991 |
| Contributions, gifts, grants paid | $390,000 |
| Total expenses and disbursements | $461,991 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $471,661 |
| 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 | $7,717,214 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $10,555,637 |
| 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, Borman Family Foundation has awarded $390,000 in support to 45 organizations.
| Grant Recipient | Amount |
|---|---|
7 LAKES ALLIANCE PURPOSE: WATER QUALITY TREATMENT CAMPAIGN | $13,689 |
ALFOND YOUTH CENTER PURPOSE: CAMP TRACEY CAPITAL CAMPAIGN | $5,000 |
ALVERNO COLLEGE PURPOSE: STUDENT ACCESSIBILITY SOFTWARE | $5,000 |
ALZHEIMER'S' ASSOCIATION PURPOSE: $25,000 GENERAL PREVENTATIVE RESEARCH; $2,000 MAINE CHAPTER TRAINING | $27,000 |
AVIAN HAVEN PURPOSE: WILD BIRD REHAB CENTER | $1,000 |
BANGOR REGION YMCA PURPOSE: CARING CONNECTION - BREAST CANCER SURVIVORS SUPPORT | $5,000 |