Burns Family Foundation Inc
- Assets
- $7.4m
- Revenue
- $428.1k
- Investments
- $6.8m
- Employees
- 0
- Location
- Damariscotta, ME
- Founding
- 09/2014
- Data as of
- 06/2022
- EIN
- 46-5671844
Organization Overview
Burns Family Foundation Inc is located in Damariscotta, ME. The organization was established in 2014. According to its NTEE Classification (T30) the organization is classified as: Public 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. Burns Family 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 06/2022, Burns Family Foundation Inc generated $428.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (55.7%) each year. All expenses for the organization totaled $1.1m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Burns Family Foundation Inc has awarded 47 individual grants totaling $1,437,048. 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 |
|---|---|---|---|
John J Lynch Executive Director | 10 | $20,000 | |
Ann C Mcfarland Director | 1 | $0 | |
John Schianchi Director | 0 | $0 | |
Elizabeth C Graves Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $21 |
| Dividends & Interest | $205,512 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $222,588 |
| Capital Gain Net Income | $222,588 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $428,121 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $20,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $14,215 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $3,477 |
| Total operating and administrative expenses | $119,895 |
| Contributions, gifts, grants paid | $947,048 |
| Total expenses and disbursements | $1,066,943 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,258 |
| Savings and temporary cash investments | $569,966 |
| 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 | $554,714 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $10,659 |
| Total assets | $7,389,840 |
| 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 | $1,522 |
| Total liabilities | $1,522 |
Grants Awarded
Over the last fiscal year, Burns Family Foundation Inc has awarded $947,048 in support to 26 organizations.
| Grant Recipient | Amount |
|---|---|
Portland, ME PURPOSE: PROGRAMS IN LINOLN COUNTY SCHOOLS | $300,000 |
LINCOLN ACADEMY PURPOSE: GENERAL OPERATIONS SUPPORT | $105,000 |
TOWN OF SOUTH BRISTOL MAINE PURPOSE: ELEMENTARY SCHOOL ENRICHMENT PROGRAMS | $93,550 |
Damariscotta, ME PURPOSE: SUPPORT OF OPERATIONS | $50,000 |
Bristol, ME PURPOSE: HEATING OIL AND ENERGY ASSISTANCE | $35,000 |
Damariscotta, ME PURPOSE: SUPPORT OF OPERATIONS | $30,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wolfes Neck Farm Foundation Inc Freeport, ME | $12,188,100 | $5,656,149 |
Francis T & Louise T Nichols Foundation Bangor, ME | $18,153,366 | $3,236,435 |
Horizon Foundation Inc Portland, ME | $24,987,883 | $2,103,553 |
Burns Family Foundation Inc Damariscotta, ME | $7,389,840 | $428,121 |
Information Technology Exchange Searsport, ME | $1,439,216 | $1,322,404 |
Positive Tracks Inc Hanover, NH | $788,895 | $936,477 |
Land Conservation Assistance Network Yarmouth, ME | $35,022 | $631,077 |
Krempels Center Portsmouth, NH | $1,041,013 | $734,120 |
Watermans Community Center North Haven, ME | $3,096,274 | $570,258 |
Charitable Division Of The Rotary Club Of Portsmouth New Hampshire Portsmouth, NH | $3,205,504 | $502,112 |
Islesboro Islands Trust Islesboro, ME | $4,486,881 | $831,070 |
Hine Corporation Scarborough, ME | $1,274,954 | $334,482 |