Vincent B And Barbara G Welch Supporting Organization
- Assets
- $9.0m
- Revenue
- $525.7k
- Investments
- $9.0m
- Employees
- 0
- Location
- Ellsworth, ME
- Founding
- 12/2009
- Data as of
- 12/2021
- EIN
- 27-0676659
Organization Overview
Vincent B And Barbara G Welch Supporting Organization, operating under the name Welch Charitable Fund, is located in Ellsworth, ME. The organization was established in 2009. According to its NTEE Classification (T11) the organization is classified as: Single Organization Support, 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. Welch Charitable Fund 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, Welch Charitable Fund generated $525.7k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.7% each year . All expenses for the organization totaled $373.1k during the year ending 12/2021. While expenses have increased by 4.4% per year over the past 7 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, Welch Charitable Fund has awarded 120 individual grants totaling $1,866,666. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT THE MAINE COMMUNITY FOUNDATION (MCF) AND ITS CHARITABLE AND EDUCATIONAL PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AWARDS CHARITABLE GRANTS TO NON-PROFIT ORGANIZATIONS PRIMARILY IN THE GREATER PORTLAND, ME AREA WITH A FOCUS ON YOUTH, EDUCATION, HEALTH CARE, ALCOHOL AND SUBSTANCE ABUSE REHABILITATION, AND ART AND CULTURE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sally G Vamvakias President/director | OfficerTrustee | 0.1 | $0 |
Eric Blakeman Vice President/director | OfficerTrustee | 0.1 | $0 |
Michele Camarco Treasurer (start 3/21) | Officer | 0.1 | $0 |
James E Geary Treasurer (end 3/21) | Officer | 0.1 | $0 |
Sue Doliner Director | Trustee | 0.1 | $0 |
Frank H Frye Director | Trustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $525,715 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $183,112 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $86,896 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $373,144 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $9,035,802 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,035,802 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $100,000 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $100,000 |
| Net assets without donor restrictions | $8,935,802 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $9,035,802 |
Grants Awarded
Over the last fiscal year, Vincent B And Barbara G Welch Supporting Organization has awarded $158,112 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
Portland, ME PURPOSE: Hospitals | $25,000 |
Yarmouth, ME PURPOSE: Fitness and Wellness Facility | $25,000 |
Portland, ME PURPOSE: Substance Abuse Treatment | $25,000 |
Portland, ME PURPOSE: Homeless Shelters | $20,000 |
Portland, ME PURPOSE: Housing Assistance | $15,000 |
Auburn, ME PURPOSE: Food Banks & Pantries | $12,500 |
Endowment Analysis
| Beg. Balance | $7,675,354 |
| Earnings | $1,530,693 |
| Admin Expense | $86,896 |
| Other Expense | $237 |
| Grants | $183,112 |
| Ending Balance | $8,935,802 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Friends Of Lafayette House Portsmouth, NH | $531,938 | $456,322 |
Baxter Park Wilderness Fund Tr Harpswell, ME | $27,121,731 | $319,013 |
Vincent B And Barbara G Welch Supporting Organization Ellsworth, ME | $9,035,802 | $525,715 |
Phillips-Strickland Charities Bangor, ME | $5,352,071 | $599,856 |
Edith E Celley Irrv Tr 55005200 Hanover, NH | $1,182,196 | $152,744 |
Raymond Huntley Fbo Velma Huntley Trust Bedford, NH | $389,349 | $33,737 |
Weeks Medical Center Auxiliary Lancaster, NH | $55,732 | $0 |
Friends Of The Hebron Library Hebron, NH | $13,513 | $0 |
Upper Valley Lake Sunapee Regional Planning Foundation Lebanon, NH | $2,829 | $0 |
Speare Memorial At Boulder Point Plymouth, NH | $5,439,318 | $117,400 |
Maine Community Supporting Foundation Ellsworth, ME | $0 | $0 |