Harold Alfond Foundation
- Assets
- $813.4m
- Revenue
- $317.1m
- Investments
- $808.0m
- Employees
- 0
- Location
- Portland, ME
- Founding
- 05/1994
- Data as of
- 12/2020
- EIN
- 22-3281672
Organization Overview
Harold Alfond Foundation is located in Portland, ME. The organization was established in 1994. 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. Harold Alfond 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 12/2020, Harold Alfond Foundation generated $317.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 45.9% each year . All expenses for the organization totaled $64.5m during the year ending 12/2020. While expenses have increased by 7.4% 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 2014, Harold Alfond Foundation has awarded 656 individual grants totaling $986,959,454. 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
2020
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William L Alfond Trustee | 1 | $0 | |
Theodore B Alfond Trustee | 2 | $0 | |
Gregory W Powell - See Statement 18 Trustee | 27 | $0 | |
Peter H Lunder Trustee | 1 | $0 | |
Steven P Akin Trustee | 8 | $0 | |
Theresa M Stone Trustee | 7 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dexter Private Equity Te Llc | 12/30/21 | $3,525,754 |
Dexter Us Equity Te Llc | 12/30/21 | $1,851,723 |
Dexter Real Assets Te Llc | 12/30/21 | $1,610,073 |
Dexter Enterprises | 12/30/21 | $1,415,738 |
Dexter Hedge Fund Te Llc | 12/30/21 | $1,369,747 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $273,423,811 |
| Interest on Savings | $1,991,853 |
| Dividends & Interest | $8,105,547 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $27,767,063 |
| Capital Gain Net Income | $23,687,191 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $5,795,558 |
| Total Revenue | $317,083,832 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $13,149 |
| Taxes | $1,111,589 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $26,082 |
| Printing and publications | $0 |
| Other expenses | $9,475,350 |
| Total operating and administrative expenses | $12,539,210 |
| Contributions, gifts, grants paid | $51,931,376 |
| Total expenses and disbursements | $64,470,586 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,033 |
| Savings and temporary cash investments | $5,332,494 |
| 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 | $661,527,552 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $5,000 |
| Total assets | $813,380,857 |
| 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 | $4,585,774 |
| Total liabilities | $4,585,774 |
Grants Awarded
Over the last fiscal year, Harold Alfond Foundation has awarded $90,337,295 in support to 74 organizations.
| Grant Recipient | Amount |
|---|---|
THE FOUNDATION FOR MAINE COMMUNITY COLLEGES PURPOSE: THE CENTER FOR THE ADVANCEMENT OF MAINES WORKFORCE: BUILDING A MORE PROSPEROUS MAINE | $12,014,487 |
Winter Park, FL PURPOSE: THE INNOVATION TRIANGLE | $12,000,000 |
COLBY COLLEGE PURPOSE: ATHLETICS CENTER | $7,500,000 |
Portland, ME PURPOSE: ASF SCHOLARSHIP PAYMENTS | $5,934,309 |
COLBY COLLEGE PURPOSE: ART CENTER AND HOTEL | $5,000,000 |
Orono, ME PURPOSE: REVITALIZING THE UNIVERSITY OF MAINE SYSTEM: STUDENT SUCCESS AND RETENTION; THE GRADUATE AND PROFESSIONAL CENTER, AND THE MAINE COLLEGE OF ENGINEERING, COMPUTING, AND INFORMATION SCIENCE | $5,000,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Harold Alfond Foundation Portland, ME | $813,380,857 | $317,083,832 |
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 |