Kennebec Savings Bank Foundation
- Assets
- $16.1m
- Revenue
- $4.8m
- Investments
- $15.5m
- Employees
- 0
- Location
- Augusta, ME
- Founding
- 12/1985
- Data as of
- 12/2021
- EIN
- 22-2624600
Organization Overview
Kennebec Savings Bank Foundation is located in Augusta, ME. The organization was established in 1985. 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. Kennebec 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 12/2021, Kennebec Savings Bank Foundation generated $4.8m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 31.2% each year . All expenses for the organization totaled $754.9k during the year ending 12/2021. While expenses have increased by 8.7% per year over the past 6 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 2016, Kennebec Savings Bank Foundation has awarded 265 individual grants totaling $3,312,616. 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 |
|---|---|---|---|
Craig J Garofalo Vice President | 1 | $0 | |
Andrew E Silsby President/clerk | 1 | $0 | |
Debra A Getchell Treasurer | 1 | $0 | |
Mary A Denison Director | 1 | $0 | |
Norman S Elvin Director | 1 | $0 | |
Diane F Hastings Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,208,895 |
| Interest on Savings | $0 |
| Dividends & Interest | $217,144 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,416,767 |
| Capital Gain Net Income | $2,416,767 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $4,842,806 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $16,646 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $71,573 |
| Contributions, gifts, grants paid | $683,323 |
| Total expenses and disbursements | $754,896 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $90 |
| Savings and temporary cash investments | $612,057 |
| 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 | $16,088,976 |
| 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, Kennebec Savings Bank Foundation has awarded $903,323 in support to 63 organizations.
| Grant Recipient | Amount |
|---|---|
Augusta, ME PURPOSE: CAPITAL CAMPAIGN SUPPORT | $100,000 |
Augusta, ME PURPOSE: CAPITAL CAMPAIGN SUPPORT | $100,000 |
Manchester, ME PURPOSE: COMPREHENSIVE CAMPAIGN SUPPORT | $60,000 |
ALFOND YOUTH CENTER PURPOSE: CAPITAL CAMPAIGN SUPPORT | $50,000 |
ALFOND YOUTH CENTER PURPOSE: CAPITAL CAMPAIGN | $50,000 |
FIRST AMENDMENT MUSEUM PURPOSE: CAPITAL CAMPAIGN SUPPORT | $50,000 |
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 |