Otto And Fran Walter Foundation Inc
- Assets
- $14.8m
- Revenue
- $2.4m
- Investments
- $7.9m
- Employees
- 0
- Location
- Boothbay Harbor, ME
- Founding
- 06/1954
- Data as of
- 12/2021
- EIN
- 13-1625529
Organization Overview
Otto And Fran Walter Foundation Inc is located in Boothbay Harbor, ME. The organization was established in 1954. 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. Otto And Fran Walter Foundation Inc 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 12/2021, Otto And Fran Walter Foundation Inc generated $2.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.5% each year . All expenses for the organization totaled $11.5m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Otto And Fran Walter Foundation Inc has awarded 68 individual grants totaling $17,942,778. 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 |
|---|---|---|---|
Frank G Helman Past President | 30 | $59,125 | |
Martha H Peak President | 30 | $56,375 | |
Kenneth R Bradsell Treasurer | 10 | $15,000 | |
Carl R Griffin III Secretary | 10 | $15,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $267,328 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,136,475 |
| Capital Gain Net Income | $2,136,475 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,403,803 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $145,500 |
| Other employee salaries and wages | $20,204 |
| Pension plans, employee benefits | $17,738 |
| Interest | $0 |
| Taxes | $46,205 |
| Depreciation | $3,022 |
| Occupancy | $25,880 |
| Travel, conferences, and meetings | $125 |
| Printing and publications | $681 |
| Other expenses | $20,613 |
| Total operating and administrative expenses | $295,568 |
| Contributions, gifts, grants paid | $11,197,675 |
| Total expenses and disbursements | $11,493,243 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $92,621 |
| Savings and temporary cash investments | $6,794,660 |
| 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 | $6,463 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $2,390 |
| Other assets | $15,691 |
| Total assets | $14,780,673 |
| Accounts payable and accrued expenses | $19,627 |
| Grants payable | $10,495,000 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $10,514,627 |
Grants Awarded
Over the last fiscal year, Otto And Fran Walter Foundation Inc has awarded $11,197,675 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
THE ROTARY FOUNDATION PURPOSE: TO FUND OTTO & FRAN WALTER ROTARY PEACE CENTER IN MIDDLE EAST AND NORTH AFRICA | $10,210,000 |
THE ROTARY FOUNDATION PURPOSE: TO FUND OTTO AND FRAN WALTER ROTARY PEACE CENTER IN MIDDLE EAST AND NORTH AFRICA | $290,000 |
EUROPEAN UNION STUDIES CENTER PURPOSE: TO FUND ANNUAL LECTURE, OUTREACH: EXCHANGE PROGRAMS AND CONFERENCESCONFERENCE | $250,000 |
THE DOOR PURPOSE: LEGAL ASSISTANCE FOR REFUGEES IN NYCCONFERENCE | $150,000 |
New London, CT PURPOSE: TO FUND CONSTRUCTION OF FACILITY TO ADVANCE INTERDISCIPLINARY GLOBAL STUDIES | $90,000 |
Trevett, ME PURPOSE: TO FUND EDUCATION & HOUSING FOR AT RISK GIRLS IN THAILAND | $75,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Td Charitable Foundation Falmouth, ME | $0 | $26,328,021 |
P M Allen Family Foundation Hanover, NH | $110,796,013 | $13,365,268 |
Rannie Webster Foundation Rye, NH | $21,769,366 | $13,522,122 |
Elmina B Sewall Foundation Freeport, ME | $198,399,545 | $18,229,129 |
Lunder Foundation Portland, ME | $114,918 | $28,179,943 |
Otto And Fran Walter Foundation Inc Boothbay Harbor, ME | $14,780,673 | $2,403,803 |
The Jack & Dorothy Byrne Foundation Inc Hanover, NH | $178,090 | $5,355,970 |
The Birchtree Center Portsmouth, NH | $2,377,101 | $5,561,187 |
The Bill And Joan Alfond Foundation Portland, ME | $33,512,660 | $6,141,856 |
Friends Of Notre-Dame De Paris Inc Etna, NH | $24,880,670 | $12,372,128 |
Sam L Cohen Foundation Portland, ME | $30,483,258 | $3,967,796 |
Huber Foundation Falmouth, ME | $75,719,525 | $3,696,908 |