Libra Foundation Owen W Wells Trustee
- Assets
- $194.5m
- Revenue
- $7.2m
- Investments
- $150.6m
- Employees
- 0
- Location
- Portland, ME
- Founding
- 03/1990
- Data as of
- 12/2021
- EIN
- 04-6626994
Organization Overview
Libra Foundation Owen W Wells Trustee is located in Portland, ME. The organization was established in 1990. 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. Libra Foundation Owen W Wells Trustee is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Since 2016, Libra Foundation Owen W Wells Trustee has awarded 481 individual grants totaling $45,269,868. 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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Craig N Denekas Chairman/ceo | 50 | $376,674 | |
Jere G Michelson President/coo/cfo | 50 | $366,632 | |
Erik Hayward Executive Vice President | 50 | $251,130 | |
Paul Pietropaoli Executive Vice President | 50 | $241,130 | |
Kathi Giedris Administrative Assis | 40 | $115,523 | |
Jennifer Cook Accounting Assistant | 40 | $115,502 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Capital Guardian | 12/30/21 | $65,651 |
Harpswell Capital Advisors | 12/30/21 | $168,670 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2,325 |
| Dividends & Interest | $724,141 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $6,947,571 |
| Capital Gain Net Income | $6,947,571 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$482,006 |
| Total Revenue | $7,192,031 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,335,985 |
| Other employee salaries and wages | $306,381 |
| Pension plans, employee benefits | $398,288 |
| Interest | $0 |
| Taxes | $163,460 |
| Depreciation | $56,293 |
| Occupancy | $128,376 |
| Travel, conferences, and meetings | $27,460 |
| Printing and publications | $0 |
| Other expenses | $147,270 |
| Total operating and administrative expenses | $2,846,289 |
| Contributions, gifts, grants paid | $6,296,938 |
| Total expenses and disbursements | $9,143,227 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $484,784 |
| Savings and temporary cash investments | $1,696,124 |
| 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 | $11,893 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $99,853,995 |
| Net Land, buildings, and equipment | $288,825 |
| Other assets | $41,394,591 |
| Total assets | $194,515,715 |
| Accounts payable and accrued expenses | $175,159 |
| Grants payable | $350,000 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $113,500 |
| Total liabilities | $638,659 |
Grants Awarded
Over the last fiscal year, Libra Foundation Owen W Wells Trustee has awarded $6,371,938 in support to 88 organizations.
| Grant Recipient | Amount |
|---|---|
New Gloucester, ME PURPOSE: DEVELOP, OPERATE AND STAFF PINELAND FARMS, INC. FOR AGRICULTURAL PROMOTION, EDUCATION AND RESEARCH IN MAINE | $3,705,000 |
MAINEHEALTH PURPOSE: RAISING READERS PROGRAM | $1,126,851 |
FOXCROFT ACADEMY PURPOSE: PISCATAQUIS COUNTY ICE ARENA OPERATING EXPENSES | $475,525 |
Machias, ME PURPOSE: MACHIAS VALLEY CENTER FOR ENTREPRENEURSHIP & BUSINESS HUB | $243,062 |
NORTHERN LIGHT CA DEAN HOSPITAL PURPOSE: BUILD NEW HOSPITAL AND RELATED FACILITY UPGRADES | $100,000 |
Presque Isle, ME PURPOSE: GENERAL OPERATING SUPPORT | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Libra Foundation Owen W Wells Trustee Portland, ME | $194,515,715 | $7,192,031 |
Thomas W Haas Foundation Greenland, NH | $135,774,612 | $23,898,654 |
Endowment For Health Inc Concord, NH | $94,601,301 | $13,835,099 |
Peter And Anna Kolchinsky Foundation Portsmouth, NH | $32,887,718 | $6,933,856 |
Southeast Land Trust Of New Hampshire Epping, NH | $33,243,290 | $7,653,430 |
P D Merrill Charitable Tr U-A Dtd 11-02-06 Portland, ME | $0 | $21,552 |
Cogswell Benevolent Trust Manchester, NH | $30,218,866 | $3,198,949 |
Gloria C Mackenzie Foundation Inc East Millinocket, ME | $24,725,782 | $9,772,129 |
Burke Family Foundation C/O People's United Bank Cape Elizabeth, ME | $0 | $295,914 |
Morton-Kelly Charitable Tr Portland, ME | $19,003,514 | $4,559,589 |
Hank And Lynn Hopeman Foundation Inc Sunapee, NH | $22,635,680 | $2,787,144 |
Cascade Foundation Rockport, ME | $16,395,441 | $857,628 |