Bangor Savings Bank Foundation
- Assets
- $7.7m
- Revenue
- $1.6m
- Investments
- $7.0m
- Employees
- 0
- Location
- Bangor, ME
- Founding
- 09/1997
- Data as of
- 03/2022
- EIN
- 04-3353896
Organization Overview
Bangor Savings Bank Foundation is located in Bangor, ME. The organization was established in 1997. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. Bangor Savings Bank 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 03/2022, Bangor Savings Bank Foundation generated $1.6m in total revenue. This represents relatively stable growth, over the past 2 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $1.4m during the year ending 03/2022. While expenses have increased by 2.6% per year over the past 2 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 2021, Bangor Savings Bank Foundation has awarded 300 individual grants totaling $2,528,316. 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 |
|---|---|---|---|
George F Eaton II ESQ Director | 0.1 | $0 | |
Sari S Greene Director | 0.1 | $0 | |
Gena R Canning Director | 0.3 | $0 | |
Susan C Hammond Director (start June 2021) | 0.1 | $0 | |
Charles E Hewett PHD Director | 0.1 | $0 | |
Kathryn L Barber Director | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,112,500 |
| Interest on Savings | $11,230 |
| Dividends & Interest | $164,050 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $347,043 |
| Capital Gain Net Income | $347,043 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,634,823 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,908 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $47,759 |
| Contributions, gifts, grants paid | $1,319,960 |
| Total expenses and disbursements | $1,367,719 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $500 |
| Savings and temporary cash investments | $756,723 |
| 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 | $7,746,738 |
| 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, Bangor Savings Bank Foundation has awarded $1,319,960 in support to 154 organizations.
| Grant Recipient | Amount |
|---|---|
Bangor, ME PURPOSE: GENERAL OPERATING SUPPORT | $100,000 |
Camden, ME PURPOSE: GENERAL OPERATING SUPPORT | $50,000 |
BANGOR REGION YMCA PURPOSE: GENERAL OPERATING SUPPORT | $50,000 |
South Portland, ME PURPOSE: GENERAL OPERATING SUPPORT | $50,000 |
Portland, ME PURPOSE: GENERAL OPERATING SUPPORT | $50,000 |
Augusta, ME PURPOSE: GENERAL OPERATING SUPPORT | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John T Gorman Foundation Portland, ME | $247,615,876 | $14,457,212 |
Bangor Savings Bank Foundation Bangor, ME | $7,746,738 | $1,634,823 |
C&s Charities Inc Keene, NH | $239,311 | $1,355,714 |
Hypertherm Hope Foundation Hanover, NH | $457,973 | $823,751 |
Shaw Brothers Family Foundation Inc Gorham, ME | $7,778,624 | $3,345,936 |
Woodard & Curran Charitable Foundation Portland, ME | $970,287 | $275,776 |
Eventide Foundation Stratham, NH | $1,790,776 | $141,597 |
Ginn Family Foundation South Portland, ME | $2,578,556 | $217,899 |
Ames Automotive Foundation Marlborough, NH | $15,871,330 | $134,336 |
Payne Family Foundation Elkins, NH | $332,596 | $116,191 |
Harris A Berman & Ruth E Nemzoff Family Foundation Concord, NH | $593,848 | $50,673 |
Heritage Helps Foundation C/O Lori Chartier Auburn, NH | $0 | $5,768 |