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
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
**
Ready to take the next step with Bangor Savings Bank Foundation?
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
No grants recorded for .
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
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Similar funders by location and focus area
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
What could you do with Bangor Savings Bank Foundation on Grantable?
- Assess strategic fit with your organization
- Draft a tailored letter of inquiry
- Find open RFPs from this funder
- Monitor for new funding opportunities