Franklin Savings Bank Community Development Foundation
- Assets
- $3.9m
- Revenue
- $625.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Farmington, ME
- Founding
- 08/2000
- Data as of
- 12/2023
- EIN
- 31-1719226
Organization Overview
Franklin Savings Bank Community Development Foundation is located in Farmington, ME. The organization was established in 2000. 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. Franklin Savings Bank Community Development 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 12/2023, Franklin Savings Bank Community Development Foundation generated $625.6k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 15.3% each year . All expenses for the organization totaled $491.7k during the year ending 12/2023. While expenses have increased by 12.8% per year over the past 4 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 2020, Franklin Savings Bank Community Development Foundation has awarded 352 individual grants totaling $1,183,919. 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 |
|---|---|---|---|
Bradford S Adley Director | 1 | $0 | |
Robert L Berry III Director | 1 | $0 | |
James L Eastlack Director | 1 | $0 | |
Richard H Smith Director | 1 | $0 | |
James M Witt IV Director | 1 | $0 | |
Katherine W Yardley Director (start June 2023) | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $503,160 |
| Interest on Savings | $122,466 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $625,626 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $800 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $3,300 |
| Contributions, gifts, grants paid | $488,430 |
| Total expenses and disbursements | $491,730 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,929,337 |
| 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 | $3,929,337 |
| 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, Franklin Savings Bank Community Development Foundation has awarded $488,430 in support to 140 organizations.
| Grant Recipient | Amount |
|---|---|
ALBISTON FOUNDATION PURPOSE: GENERAL OPERATING SUPPORT | $2,000 |
30 MILE RIVER WATERSHED ASSOCIATION PURPOSE: GENERAL OPERATING SUPPORT | $2,000 |
ANDOVER EDUCATIONAL FUND INC PURPOSE: GENERAL OPERATING SUPPORT | $500 |
ANIMAL WELFARE SOCIETY PURPOSE: GENERAL OPERATING SUPPORT | $1,500 |
AUTISM SOCIETY OF MAINE PURPOSE: GENERAL OPERATING SUPPORT | $500 |
BETHEL AREA DISTRICT EXCHANGE AND FOOD PANTRY PURPOSE: GENERAL OPERATING SUPPORT | $200 |