Borman Family Foundation
- Assets
- $9.3m
- Revenue
- $721.6k
- Investments
- $8.9m
- Employees
- 0
- Location
- Oakland, ME
- Founding
- 11/1999
- Data as of
- 07/2022
- 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 07/2022, Borman Family Foundation generated $721.6k in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 7.3% each year. All expenses for the organization totaled $534.3k during the year ending 07/2022. While expenses have increased by 4.9% 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, Borman Family Foundation has awarded 123 individual grants totaling $1,273,891. 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 |
|---|---|---|---|
Barbara Metzdorff Vice President | 6 | $10,000 | |
Donald Borman Treasurer/secretary | 8 | $7,000 | |
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 | |
Kate Borman President | 6.5 | $2,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $15 |
| Dividends & Interest | $51,929 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $565,770 |
| Capital Gain Net Income | $565,770 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $103,871 |
| Total Revenue | $721,585 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $27,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $11,722 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $1,240 |
| Printing and publications | $0 |
| Other expenses | $1,621 |
| Total operating and administrative expenses | $69,207 |
| Contributions, gifts, grants paid | $465,055 |
| Total expenses and disbursements | $534,262 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $408,627 |
| 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 | $6,682,985 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $9,337,779 |
| 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 $465,055 in support to 46 organizations.
| Grant Recipient | Amount |
|---|---|
Richmond, IN PURPOSE: $9,000 CHEMISTRY EQUIPMENT; $9,055 GEOLOGY; $17,000 MUSEUM | $35,055 |
TOWN OF OAKLAND PURPOSE: $31,000 PLAYGROUND EQUIPMENT; $2,000 FIRE DEPARTMENT | $33,000 |
ALZHEIMERS' ASSOCIATION PURPOSE: $2,000 MAINE CHAPTER; $30,000 PREVENTATIVE RESEARCH | $32,000 |
Seattle, WA PURPOSE: RESEARCH | $30,000 |
Huntingtown, MD PURPOSE: CLINICAL RESEARCH | $30,000 |
ALFOND YOUTH CENTER PURPOSE: SKATING RINK CAMPAGIN | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Borman Family Foundation Oakland, ME | $9,337,779 | $721,585 |
Charter Charitable Foundation Concord, NH | $8,032,889 | $913,988 |
Haynes Family Foundation Inc Melvin Village, NH | $1,067,593 | $458,079 |
The Compass Fund 4737682 Kingston, NH | $6,311,073 | $283,352 |
Monteverde Friends U S Inc Campton, NH | $80,877 | $0 |
Associates Of The Osher Map Library Portland, ME | $3,122,131 | $131,006 |
Vipont Demerwin Trust 151872 Uw Fbo Society Presn E Antiquities Nect Bedford, NH | $1,733,221 | $210,052 |
Maine State Troopers Foundation Unity, ME | $163,256 | $172,289 |
Lafayette Family Foundation Bangor, ME | $379,539 | $63,393 |
Maine Lighthouse Trust Biddeford, ME | $4,450 | $0 |
Maine Better Transportation Educational Foundation Augusta, ME | $855,866 | $177,366 |
Mid-State Foundation Winslow, ME | $33,198 | $0 |