Kenneth D Bane Foundation Inc
- Assets
- $63.7k
- Revenue
- $2.6k
- Investments
- $46.1k
- Employees
- 0
- Location
- Salem, MA
- Founding
- 11/2005
- Data as of
- 12/2023
- EIN
- 20-2631734
Organization Overview
Kenneth D Bane Foundation Inc is located in Salem, MA. The organization was established in 2005. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kenneth D Bane 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 12/2023, Kenneth D Bane Foundation Inc generated $2.6k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.8%) each year. All expenses for the organization totaled $33.9k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Kenneth D Bane Foundation Inc has awarded 289 individual grants totaling $123,872. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barbara Bane VP | 1 | $0 | |
Jared Bane VP | 1 | $0 | |
Kenneth D Bane Pres/dir/sec | 1 | $0 | |
Lauren Bane VP | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $9 |
| Dividends & Interest | $2,542 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $31,234 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,551 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $71 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $10,525 |
| Total operating and administrative expenses | $23,233 |
| Contributions, gifts, grants paid | $10,683 |
| Total expenses and disbursements | $33,916 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,559 |
| Savings and temporary cash investments | $0 |
| 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 | $63,694 |
| 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, Kenneth D Bane Foundation Inc has awarded $10,683 in support to 53 organizations.
| Grant Recipient | Amount |
|---|---|
FRANCIS OUMET SCHOLARSHIP FUND INC PURPOSE: GENERAL/UNREST | $0 |
FRANK CAMARDA OPEN PURPOSE: GENERAL/UNREST | $0 |
MERRY MIXERS PURPOSE: GENERAL/UNREST | $1,475 |
DANA FARBER CANCER PURPOSE: GENERAL/UNREST | $1,620 |
SALEM HIGH SCHOOL PURPOSE: GENERAL/UNRESTRICTED | $0 |
MARBLEHEAD DOLLARS FOR SCHOLARS PURPOSE: GENERAL/UNRESTRICTED | $0 |