Bangor Savings Bank Foundation
The Bangor Savings Bank Foundation is a private foundation based in Bangor, Maine. It supports initiatives intended to make Northern New England communities more prosperous, livable, and vibrant, with a stated regional focus on Maine, New Hampshire, and Essex County, Massachusetts.
Key facts about Bangor Savings Bank Foundation
In short: Bangor Savings Bank Foundation gave $1.2M across 156 grants in 2025 (avg $7K), mostly in Maine. 50% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.
- EIN
- 04-3353896
- Latest 990 filing
- Form 990-PF, 2025
- Annual giving (2025)
- $1,151,300
- Grants made (2025)
- 156
- Average grant
- $7,380
- Median grant
- $4,750
- New grantees (estimate)
- 50% first-time grantees (78 of 156, 2025)
- Total assets
- $6,977,862
- Primary geography
- Maine (81% of itemized 2025 grant dollars)
- How to apply
- Applicants should review the applicable grant guidelines and submit the online application. Full details ↓
- Deadline
- For $2,000–$5,000 grants, applications must be received before January 1 or July 1.
Data from IRS Form 990-PF, 2025; updated September 2026. New grantees are estimated by matching recipient names across years (methodology). Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$7.0M
-5.0% YoY
Annual Giving
$1.2M
-7.7% YoY
Grant Count
156
+2.6% YoY
Avg Grant Size
$7K
-10.0% YoY
Under IRS private-foundation payout rules, Bangor Savings Bank Foundation reported a distributable amount of $473K for 2025 — the minimum it must pay out in qualifying distributions.
Is Bangor Savings Bank Foundation open to new grantees?
50%
first-time grantees, 2025
In 2025, 78 of 156 grantees (50%) were first-time recipients. First grants averaged $5K; repeat grants $10K. How we count
Medians: $4K first-time, $5K repeat.
- 22% of 2025 grantees were also funded in 2024. Method
- Giving held roughly steady from 2022 to 2025 (−13%). Method
- In 2025 it paid out 244% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2021–2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Mission & Focus Areas
The Foundation says it focuses on initiatives that help create thriving and vibrant communities. Its priority areas are culture and arts; economic and workforce development; education; health and wellness; and social and community services. Economic and workforce development may include affordable housing, innovation and technology, and vocational training. Education priorities include student readiness, academic success, and financial wellness.
Its 2025 grants illustrate support for organizations with varied missions. For example, Avesta Housing Development Corporation describes its mission as providing quality affordable homes, while Good Shepherd Food Bank’s mission is to improve access to nutritious food and address hunger in Maine. Acadia Hospital Corp. says it provides psychiatric and mental health services, and Maine Public Broadcasting Corporation describes connecting Maine people through information, ideas, and cultural content.
Grantmaking
In 2025, the Foundation reported 156 grants totaling $1,151,300. Grants ranged from $1,000 to $50,000, with a median grant of $4,750. The Foundation’s published application guidelines describe grant requests from $2,000 to $25,000.
Review Cycle
. Prior applicants may reapply one year after their prior submission. The Foundation does not generally support political organizations, religious organizations or causes, sectarian purposes, endowments, salaries, scholarships, conferences, seminars, festivals, or similar events.
Open Grants
2 open opportunities from Bangor Savings Bank Foundation
Ready to take the next step with Bangor Savings Bank Foundation?
Geographic Focus
Where this funder awards grants
The Foundation identifies Maine, New Hampshire, and Essex County, Massachusetts, as its regional and statewide focus. In 2025, 81% of grant dollars went to recipients in Maine, 14% to New Hampshire, and 4% to Massachusetts.
Grant Distribution by State
Share of all 156 itemized 2025 grant dollars.
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2021 to 2025, annual grant giving ranged from $1.2M (2025) to $1.4M (2023). In 2025 it made 156 grants totaling $1.2M.
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Bangor Region YMCA ($50K). Together the top 10 received $437K.
Grant Size Distribution
765 grants across all recorded years
The most common grant size was under $50K: 731 grants of 765 (96%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Bangor Region YMCA Bangor, ME | General Operating Support | $50,000 |
| Friends of Katahdin Woods and Waters Portland, ME | General Operating Support | $50,000 |
| LifeFlight Foundation Camden, ME | General Operating Support | $50,000 |
| Maine Public Broadcasting Corporation Lewiston, ME | General Operating Support | $50,000 |
| MaineHealth Portland, ME | General Operating Support | $50,000 |
| Northeastern University Boston, MA | General Operating Support | $50,000 |
| Heart of Maine United Way Bangor, ME | General Operating Support | $42,450 |
| Acadia Hospital Corp Bangor, ME | General Operating Support | $40,000 |
| Avesta Housing Development Corporation Portland, ME | General Operating Support | $30,000 |
| Good Shepherd Food Bank Auburn, ME | General Operating Support | $25,000 |
Financial History
Multi-year comparison from IRS filings
| Filing year | Assets | Revenue | Expenses | Grants | Grant count |
|---|---|---|---|---|---|
| 2025 | $6,977,862 | $834,278 | $1,199,651 | $1,151,300 | 156 |
| 2024 | $7,343,235 | $921,705 | $1,289,823 | $1,246,813 | 152 |
| 2023 | $7,711,353 | $1,368,226 | $1,406,888 | $1,355,290 | 157 |
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $6,977,862 | $7,343,235 | $7,711,353 |
| Revenue | $834,278 | $921,705 | $1,368,226 |
| Expenses | $1,199,651 | $1,289,823 | $1,406,888 |
| Qualifying Distributions | $1,152,625 | $1,248,063 | $1,356,440 |
| Net Investment Income | $466,942 | $304,945 | $133,132 |
| Distributable Amount | $472,653 | $458,709 | $440,088 |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2021–2025
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Robert S. Montgomery-Rice as President and Gena R. Canning as Chair. Vincent P. Veroneau is listed as Vice Chair. Directors listed are Kathryn L. Barber, George F. Eaton II, Sari S. Greene, Susan C. Hammond, Laurie G. Lachance, Scott A. Oxley, and Joyce Clark Sarnacki.
Bangor Savings Bank Foundation is led by Robert S Montgomery-Rice, President on every filing since 2021; none of the 12 officers listed in 2025 report compensation.
Officers on the 2025 filing
Robert S Montgomery-Rice
President
On filings since 2021
0.2 hrs/week
No compensation reported
Gena R Canning
Chair
Director → Chair, 2023
On filings since 2021
0.6 hrs/week
No compensation reported
George F Eaton II Esq.
Director
On filings since 2021
0.1 hrs/week
No compensation reported
Joyce Clark Sarnacki
Director
Chairperson → Director, 2023
On filings since 2021
0.1 hrs/week
No compensation reported
Kathryn L Barber
Director
On filings since 2021
0.1 hrs/week
No compensation reported
Sari S Greene
Director
On filings since 2021
0.1 hrs/week
No compensation reported
Scott A Oxley
Director
On filings since 2021
0.1 hrs/week
No compensation reported
Laurie G Lachance
Director
On filings since 2022
0.1 hrs/week
No compensation reported
Susan C Hammond
Director
On filings since 2022
0.1 hrs/week
No compensation reported
Vincent P Veroneau
Vice Chair
Director → Vice Chair, 2023
On filings since 2021
0.1 hrs/week
No compensation reported
Wendy Durrah
Vice President, Secretary & Clerk
Vice President, Sec'y & Clerk → Vice President, Secretary & Clerk, 2024
On filings since 2021
2 hrs/week
No compensation reported
Michael O'Connor
Treasurer
On filings since 2024
0.6 hrs/week
No compensation reported
Former officers (4)
- Former: William D Purington (2021–2024) — Director
- Former: Charles E Hewett (2021–2023) — Director
- Former: Kenneth Colpritt (2021–2023) — Treasurer
- Former: Robert A Strong CFA (2021–2023) — Director
Data from IRS Form 990 filings, 2021–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Contact
Application contact: Program Officer The Bangor Savings
Mailing address: 24 Hamlin Way PO Box 930, Bangor, ME 04402-0930
Phone: (877) 226-4671
Email: foundation@bangor.com
Website: https://bangor.com
Frequently asked questions about Bangor Savings Bank Foundation
How much does Bangor Savings Bank Foundation give each year?
Bangor Savings Bank Foundation gave $1.2M across 156 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $1.2M across 152 grants.
What is Bangor Savings Bank Foundation's typical grant size?
Bangor Savings Bank Foundation's median grant in 2025 was $4,750, and its average grant was $7,380, across 156 grants on its 2025 IRS Form 990-PF. Organizations receiving their first grant from Bangor Savings Bank Foundation that year got $5K on average.
Where does Bangor Savings Bank Foundation give grants?
Bangor Savings Bank Foundation gives mostly in Maine: 81% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest state was New Hampshire (14%). The most frequent recipient cities were Portland, ME (14 grants), Lewiston, ME (9 grants), Bangor, ME (8 grants) and Portsmouth, NH (7 grants).
Does Bangor Savings Bank Foundation give general operating support?
Yes: 99% of Bangor Savings Bank Foundation's 2025 grants with a stated purpose (155 of 156) were for general or operating support, per its 2025 IRS Form 990-PF.
Who are Bangor Savings Bank Foundation's largest grantees?
Bangor Savings Bank Foundation's largest 2025 grantees include Bangor Region YMCA ($50,000), Friends of Katahdin Woods and Waters ($50,000) and LifeFlight Foundation ($50,000), according to its 2025 IRS Form 990-PF. Together they received 13% of its itemized 2025 grant dollars.
How large is Bangor Savings Bank Foundation?
Bangor Savings Bank Foundation reported $7.0M in total assets on its 2025 IRS Form 990-PF. It paid out $1.2M in qualifying distributions that year, against a required minimum of $473K (roughly 5% of its investment assets).
What does Bangor Savings Bank Foundation fund?
The Foundation says it focuses on initiatives that help create thriving and vibrant communities. Its priority areas are culture and arts; economic and workforce development; education; health and wellness; and social and community services. See mission & focus areas ↑
How do I apply for a grant from Bangor Savings Bank Foundation?
Applicants should review the applicable grant guidelines and submit the online application. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Bangor Savings Bank Foundation's EIN?
Bangor Savings Bank Foundation's EIN (Employer Identification Number) is 04-3353896. IRS Form 990 filing data is available on this page for 2021–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Here's the math on researching Bangor Savings Bank Foundation by hand.
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