Bangor Savings Bank Foundation
The Bangor Savings Bank Foundation is a private foundation based in Bangor, Maine. It supports initiatives intended to make communities more prosperous, livable, and vibrant, with philanthropic priorities focused on Maine, New Hampshire, and Essex County, Massachusetts.
Bangor Savings Bank Foundation at a glance
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.
- Annual giving (2025)
- $1,151,300
- -7.7% vs 2024
- Grants made (2025)
- 156
- +2.6% vs 2024
- Average grant
- $7,380
- -10.0% vs 2024
- Median grant
- $4,750
- Total assets
- $6,977,862
- -5.0% vs 2024
- New grantees (estimate)
- 50% first-time grantees (78 of 156, 2025)
- Primary geography
- Maine (81% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to Bangor Savings Bank Foundation
- How to Apply
-
Review the appropriate grant guidelines and submit an online application through the Foundation’s grant portal. The Foundation’s 2024 filing lists application deadlines of January 1, April 1, July 1, and October 1; the October 1, 2026 deadline has passed.
- Review Cycle
- The next deadline listed in the 2024 filing is January 1, 2027. The Foundation’s website also identifies January 1 and July 1 as application deadlines for its grant guidelines.
- Deadline
- The next deadline listed in the 2024 filing is January 1, 2027.
- 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
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Open Grants
2 open opportunities from Bangor Savings Bank Foundation
Who Bangor Savings Bank Foundation funds
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%).
Geographic Focus
Where this funder awards grants
The Foundation states that its priority is Northern New England, specifically Maine, New Hampshire, and Essex County, Massachusetts. In 2025, 81% of its grant dollars went to recipients in Maine, 14% to New Hampshire, and 4% to Massachusetts.
Grant Distribution by State
Share of 2025 grant dollars across all 156 itemized grants.
Cities
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.
Giving History
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.
Grants by year
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 |
Ready to take the next step with Bangor Savings Bank Foundation?
Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $6,977,862 | $834,278 | $1,199,651 | $1,151,300 | 156 | $1,152,625 | $466,942 | $472,653 |
| 2024 | $7,343,235 | $921,705 | $1,289,823 | $1,246,813 | 152 | $1,248,063 | $304,945 | $458,709 |
| 2023 | $7,711,353 | $1,368,226 | $1,406,888 | $1,355,290 | 157 | $1,356,440 | $133,132 | $440,088 |
| 2022 | $7,746,738 | $1,634,823 | $1,367,719 | $1,319,960 | 154 | $1,321,160 | $476,691 | $494,506 |
| 2021 | $7,479,634 | $1,610,192 | $1,299,598 | $1,208,356 | 146 | — | $570,311 | $413,701 |
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.
Research compiled by Grantable AI from public sources. Last updated October 2026.
Mission & Focus Areas
The Foundation says it focuses on improving the vitality of Northern New England’s regional and statewide economies. Its priority areas are culture and arts, economic and workforce development, education, health and wellness, and social and community services. Examples in its giving include affordable housing, workforce development, education, health care, public media, and community services.
Its 2025 grantees illustrate this range. Friends of Katahdin Woods and Waters describes its mission as protecting the natural beauty, ecological vitality, and cultural resources of Katahdin Woods and Waters National Monument and surrounding communities. LifeFlight Foundation says it secures resources for Maine’s air medical and critical care transport needs. Avesta Housing Development Corporation describes its mission as providing quality affordable homes and strengthening communities. These are the grantees’ stated missions, not the Foundation’s.
Grantmaking
In 2025, the Foundation reported 156 grants totaling $1,151,300. Grants ranged from $1,000 to $50,000, with a median of $4,750. The largest grants included $50,000 each to Bangor Region YMCA, Friends of Katahdin Woods and Waters, LifeFlight Foundation, Maine Public Broadcasting Corporation, MaineHealth, and Northeastern University. Other notable awards were $42,450 to Heart of Maine United Way, $40,000 to Acadia Hospital Corp, and $30,000 to Avesta Housing Development Corporation. The listed purposes for these awards were general operating support.
Applicants are directed to review the applicable grant guidelines and submit an online application. The Foundation’s 2024 filing says an application should describe the initiative, explain how the award would benefit the region served by Bangor Savings Bank, and attest to 501(c)(3) tax-exempt status. It says applications are reviewed bi-annually and funding decisions are generally announced within 45–75 days of each application deadline. The filing lists grant awards from $2,000 to $25,000 and says the Foundation generally does not support political or religious organizations or causes, sectarian purposes, endowments, salaries, scholarships, conferences, seminars, festivals, or similar events.
The Foundation also runs Community Matters More, which invites community members to vote for local nonprofits during April. Eligible organizations must be 501(c)(3) nonprofits with programs open to all and operating offices in Maine or New Hampshire. Schools and organizations supporting schools, scholarship organizations, and religious or sectarian causes are ineligible under the program’s guidelines.
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 are Kathryn L Barber, George F Eaton II Esq, 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.
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 improving the vitality of Northern New England’s regional and statewide economies. 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?
Review the appropriate grant guidelines and submit an online application through the Foundation’s grant portal. 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 October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated October 2026.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2021–2025
Live grants for the work Bangor Savings Bank Foundation funds
Philanthropy, Voluntarism & Grantmaking Open opportunities, soonest deadline first.
Explore Open Grants
Browse active grant opportunities in Bangor Savings Bank Foundation's focus areas in our free grants database
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Cite this profile
Grantable. (2026). Bangor Savings Bank Foundation funder profile. GrantGraph. Retrieved October 20, 2026, from https://grantable.co/funders/bangor-savings-bank-foundation-morg_05483a5c3356495496dbe0c1bbd8e2dd
BibTeX
@misc{grantable_043353896_2026,
author = {{Grantable}},
title = {{Bangor Savings Bank Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/bangor-savings-bank-foundation-morg_05483a5c3356495496dbe0c1bbd8e2dd},
note = {Accessed 2026-10-20. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from Bangor Savings Bank Foundation's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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