Bank of Utica Foundation Inc
Bank of Utica Foundation Inc is a private foundation based in Utica, New York, established in December 1992. The foundation is designated as a 501(c)(3) organization and is supported by the Bank of Utica. It operates as a grantmaking institution focused on supporting nonprofit organizations in its region.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$11.3M
-1.3% YoY
Annual Giving
$557K
+1.0% YoY
Grant Count
113
-5.0% YoY
Avg Grant Size
$5K
+6.4% YoY
Under IRS private-foundation payout rules, Bank of Utica Foundation Inc reported a distributable amount of $556K for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation's primary funding focus areas include:
- Education
- Philanthropy, Voluntarism & Grantmaking
- Human Services
- Arts and Creative Initiatives
- Arts Access & Participation
Grantmaking
The foundation is an active grantmaker with a demonstrated commitment to local organizations. In 2023, the foundation made 74 grants totaling $557,350 in giving.
Grant Range
** Typical awards range from $100 to $100,000.
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Geographic Focus
Where this funder awards grants
The foundation primarily funds organizations in New York, with a particular emphasis on the Mohawk Valley region and Utica area. Notable grantees include Mohawk Valley Health Systems and other local nonprofits.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of December 31, 2023:
- Total Assets: $11,482,091
- Total Revenue: $401,856
- Total Expenses: $556,579
- Total Liabilities: $0
Revenue Composition (2023):
- Investment Income and Dividends: $401,856
- Total Grants and Contributions: $0
The foundation's revenue is primarily derived from investment income rather than direct contributions.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $11,332,862 | $11,482,091 | $11,636,814 |
| Revenue | $421,430 | $401,856 | $1,235,603 |
| Expenses | $570,659 | $556,579 | $544,578 |
| Qualifying Distributions | $557,350 | $551,650 | $531,640 |
| Net Investment Income | $421,430 | $401,856 | $863,616 |
| Distributable Amount | $555,523 | $512,066 | $535,607 |
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 2024
Grant Size Distribution
250 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Mohawk Valley Health System (mvhs) ($100,000), Cny Community Arts Council Inc (the Stanley) ($40,000), Ican Inc (for the Children's Museum) ($20,000).
| Recipient | Purpose | Amount |
|---|---|---|
| 4 ELEMENTS STUDIO UTICA, NY | GENERAL | $2,000 |
| ABRAHAM HOUSE UTICA, NY | GENERAL | $5,000 |
| ANCIENT ORDER OF HIBERNIANS IN AMERICA UTICA, NY | GENERAL | $1,000 |
| ANITA'S STEVENS-SWAN HUMANE SOCIETY UTICA, NY | GENERAL | $500 |
| B SHARP MUSICAL CLUB INC UTICA, NY | GENERAL | $500 |
| BLACQUE ACRES INC UTICA, NY | GENERAL | $2,000 |
| BOILERMAKER ROAD RACE INC UTICA, NY | GENERAL | $6,000 |
| BOSIAN AMERICAN COMMUNITY ASSOCIATION UTICA, NY | GENERAL | $250 |
| BOY SCOUTS OF AMERICA LEATHERSTOCKING UTICA, NY | GENERAL | $500 |
| BROADWAY THEATRE LEAGUE UTICA, NY | GENERAL | $8,200 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| TOM E SINNOTT | CHAIRMAN & SECRETARY | 1 | — |
| BARRY J SINNOTT | PRESIDENT & TREASURER | 1 | — |
| STEVE WALTHALL | ASSISTANT SECRETARY | 1 | — |
| JOAN SINNOTT | ASSISTANT TREASURER | 1 | — |
| LAURA M SINNOTT | ASSISTANT TREASURER | 1 | — |
Recent News & Activity
Recent developments and announcements
The foundation has demonstrated ongoing commitment to community development, including a $100,000 commitment to support ICAN's New Family Resource Center and Children's Museum initiative.
Bank of Utica Commits $100,000 to ICAN\u2019s New Family Resource Center\Frequently Asked Questions
What does Bank of Utica Foundation Inc fund?
The foundation's primary funding focus areas include: • Education • Philanthropy, Voluntarism & Grantmaking • Human Services • Arts and Creative Initiatives • Arts Access & Participation
How do I apply for a grant from Bank of Utica Foundation Inc?
The foundation is an active grantmaker with a demonstrated commitment to local organizations. In 2023, the foundation made 74 grants totaling $557,350 in giving. **Recent Notable Grants (2023):** • Munson-Williams-Proctor Arts Institute: $75,000 • United Way of the Mohawk Valley: $28,000 • Mohawk Valley EDGE: $16,000 **Grant Range:** Typical awards range from $100 to $100,000. The foundation has also made significant commitments to major initiatives, including a $100,000 commitment to ICAN's Ne…
Where does Bank of Utica Foundation Inc make grants?
The foundation primarily funds organizations in New York, with a particular emphasis on the Mohawk Valley region and Utica area. Notable grantees include Mohawk Valley Health Systems and other local nonprofits.
What size grants does Bank of Utica Foundation Inc award?
In 2024, Bank of Utica Foundation Inc awarded 113 grants totaling $557K — an average of about $5K per grant, based on its IRS Form 990 filings.
How much is Bank of Utica Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Bank of Utica Foundation Inc reported a distributable amount of $556K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Bank of Utica Foundation Inc's EIN?
Bank of Utica Foundation Inc's EIN (Employer Identification Number) is 16-1423958. IRS Form 990 filing data is available on this page for 2020–2024.
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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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