Bangor Savings Bank Foundation
The Bangor Savings Bank Foundation is a corporate foundation established in 1997 and based in Bangor, Maine. It serves as the grantmaking arm of Bangor Savings Bank and focuses its philanthropic efforts on initiatives that make Northern New England communities more prosperous, livable, and vibrant.
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.
Mission & Focus Areas
The Foundation's mission is to focus philanthropic efforts on initiatives that make communities more prosperous, livable, and vibrant.
Priority Areas of Giving:
- Economic and Workforce Development: Initiatives that foster and enhance the local workforce and improve economic well-being, including programs supporting affordable housing, innovation and technology, and vocational training
Additional Areas of Giving:
- Education
- Social and Civic Services
- Culture and Arts
- Health and Wellness
- Demographic and Entrepreneurial Health
Grantmaking
Applicants can access the Foundation Grant Portal to submit applications. The Foundation provides specific grant guidelines based on funding tier. For additional information, applicants can call 1.877.226.4671 or email foundation@bangor.com.
Grant Range
s:** Typical awards range from $1,000 to $100,000, with specific guidelines for:
How to Apply
**
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Geographic Focus
Where this funder awards grants
The Foundation primarily serves Northern New England, with a focus on:
- Maine
- New Hampshire
- Massachusetts
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
As of Fiscal Year Ending March 2025:
- Total Assets: $6,977,862
- Total Revenues: $834,278
- Total Expenses: $1,199,651
- Total Grants Made: $1,151,300 (including 135+ grants)
Revenue Breakdown (FY 2025):
- Grants and Contributions: $324,000
- Investment Income and Dividends: $265,069
- Net Gain from Sale of Non-Inventory Assets: $245,064
| 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 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
Grant Size Distribution
250 grants across all recorded years
Open Grants
2 open opportunities from Bangor Savings Bank Foundation
Giving History
Grant recipients and amounts by year
Among its reported 2025 grants, the largest include Bangor Region YMCA ($50,000), Friends of Katahdin Woods and Waters ($50,000), Acadia Hospital Corp ($40,000).
| Recipient | Purpose | Amount |
|---|---|---|
| Acadia Hospital Corp Bangor, ME | General Operating Support | $40,000 |
| Adoptive and Foster Families of Maine Inc Bangor, ME | General Operating Support | $4,000 |
| Al Badoo Community Association of Maine Portland, ME | General Operating Support | $2,500 |
| Americans Who Tell the Truth Brooksville, ME | General Operating Support | $3,500 |
| Andres Institute of Art Brookline, NH | General Operating Support | $3,500 |
| Androscoggin Valley Soil and Water Conservation District Lewiston, ME | General Operating Support | $3,500 |
| Animal Welfare Society Inc West Kennebunk, ME | General Operating Support | $1,000 |
| Arts in Reach Portsmouth, NH | General Operating Support | $5,500 |
| Augusta Food Bank Augusta, ME | General Operating Support | $4,500 |
| Austin17 House Brentwood, NH | General Operating Support | $4,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
- Wendy Durrah: Senior Vice President, Chief of Staff, Secretary & Clerk of the Foundation
- Bob Montgomery-Rice: President and CEO of Bangor Savings Bank
Compensation Overview
From 2025 IRS filing
From 2025 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Kathryn L Barber | Director | 0.1 | — |
| George F Eaton II Esq | Director | 0.1 | — |
| Sari S Greene | Director | 0.1 | — |
| Susan C Hammond | Director | 0.1 | — |
| Laurie G Lachance | Director | 0.1 | — |
| Scott A Oxley | Director | 0.1 | — |
| Joyce Clark Sarnacki | Director | 0.1 | — |
| Robert S Montgomery-Rice | President | 0.2 | — |
| Gena R Canning | Chair | 0.6 | — |
| Vincent P Veroneau | Vice Chair | 0.1 | — |
| Michael O'Connor | Treasurer | 0.6 | — |
| Wendy Durrah | VP/Secretary/Clerk | 2 | — |
Recent News & Activity
Recent developments and announcements
The Foundation has been actively awarding grants throughout 2025 and 2026, supporting a diverse range of nonprofit organizations addressing critical community needs. Recent grant recipients include organizations focused on food security, homelessness prevention, workforce development, education, and community development. The Foundation continues to expand its impact through both direct grants and its Community Matters More voting initiative.
Bangor Savings Bank asks community to vote for nonprofit grant ...Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Bangor Savings Bank Foundation fund?
The Foundation's mission is to focus philanthropic efforts on initiatives that make communities more prosperous, livable, and vibrant. **Priority Areas of Giving:** • Economic and Workforce Development: Initiatives that foster and enhance the local workforce and improve economic well-being, including programs supporting affordable housing, innovation and technology, and vocational training **Additional Areas of Giving:** • Education • Social and Civic Services • Culture and Arts • Health and We…
How do I apply for a grant from Bangor Savings Bank Foundation?
**Grant Sizes:** Typical awards range from $1,000 to $100,000, with specific guidelines for: • $2,000 - $5,000 grants • $5,001 - $25,000 grants **Recent Grant Activity:** • March 2026: Awarded $87,450 in grants to 27 nonprofit organizations • January 2026: Awarded $212,000 in grants to 19 nonprofit organizations • Notable recent grants include $125,000 (multi-year, $25,000 over 5 years) to Mark Stebbins Community Center in Manchester, NH, and $50,000 grants to Northeastern University, Maine Pub…
Where does Bangor Savings Bank Foundation make grants?
The Foundation primarily serves Northern New England, with a focus on: • Maine • New Hampshire • Massachusetts
What size grants does Bangor Savings Bank Foundation award?
In 2025, Bangor Savings Bank Foundation awarded 156 grants totaling $1.2M — an average of about $7K per grant, based on its IRS Form 990 filings.
How much is Bangor Savings Bank Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2025, Bangor Savings Bank Foundation reported a distributable amount of $473K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
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.
Explore Open Grants
Browse active grant opportunities in Bangor Savings Bank Foundation's focus areas in our free grants database
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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