Bill and Joan Alfond
The Bill and Joan Alfond Family Foundation is a private family foundation established in 1986 in Maine. Based in Portland, Maine, the foundation is a 501(c)(3) organization that distributes grants to nonprofit organizations primarily in Maine and Massachusetts.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$31.2M
+0.8% YoY
Annual Giving
$3.4M
+59.4% YoY
Grant Count
41
-14.6% YoY
Avg Grant Size
$84K
+86.7% YoY
Under IRS private-foundation payout rules, Bill and Joan Alfond reported a distributable amount of $3.9M for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation gives primarily for:
- Higher Education — Grants generally support public and private colleges and universities, as well as private secondary schools, with emphasis on athletically oriented capital projects and scholarship endowment funds
- Healthcare and Medical Research — Grants support public hospitals and medical research initiatives
- Economic Development — Support for business and community development projects
- Youth Education Programs — Emphasis on early childhood education and youth-focused initiatives
Grantmaking
Grant Range
$10,000 to $5 million
Review Cycle
- For major grants, the foundation requires matching funds from other organizations and individuals
How to Apply
**
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Geographic Focus
Where this funder awards grants
Primary focus on Maine, with particular emphasis on:
- Portland area
- Waterville area
- Skowhegan area
Secondary focus on Massachusetts.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
As of 2024:
- Total assets: $31,178,456
- Total revenues: $4,457,734
- Total expenses: $4,220,875
As of 2023:
- Total assets: $30,941,597
- Total revenues: $5,096,551
- Total expenses: $3,288,466
EIN: 01-0421806
Contact Information:
- Address: Two Monument Square, Portland, ME 04101
- Phone: (207) 828-7999
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $31,178,456 | $30,941,597 | $34,441,650 |
| Revenue | $4,457,734 | $5,096,551 | $3,466,072 |
| Expenses | $4,220,875 | $3,288,466 | $2,875,760 |
| Qualifying Distributions | $3,642,366 | $2,338,132 | $1,800,712 |
| Net Investment Income | $2,675,277 | $3,783,140 | $2,626,609 |
| Distributable Amount | $3,912,082 | $3,622,600 | $3,584,431 |
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
173 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Colby College ($600,173), Kennebec Valley Community Action Program ($500,000), Mass General Brigham Incorporated ($500,000).
| Recipient | Purpose | Amount |
|---|---|---|
| 10TH MOUNTAIN SKI CLUB FORT KENT, ME | UNRESTRICTED | $100,000 |
| ALFOND YOUTH AND COMMUNITY CENTER WATERVILLE, ME | COMPUTER CLUB | $2,700 |
| BETH ISRAEL CONGREGATION WATERVILLE, ME | COMMUNITY SUPPORT | $1,000 |
| BNY MELLON CHARITABLE GIFT FUND BOSTON, MA | DONOR ADVISED FUNDS WITH DISQUALIFIED PERSON ADVISORY PRIVILEGES | $398,225 |
| CARRABASSETT VALLEY ACADEMY CARRABASSETT VALLEY, ME | KATE WEBBER PUNDERSON ENDOWED FUND | $1,000 |
| CENTRAL MAINE COMMUNITY BETTERMENT COLLABORATIVE WATERVILLE, ME | DIRIGO LABS BUSINESS ACCELERATOR & MENTOR PROGRAM | $31,600 |
| CENTRAL MAINE COMMUNITY BETTERMENT COLLABORATIVE WATERVILLE, ME | DIRIGO LABS COMMUNITY PARTNERSHIPS | $188 |
| CENTRAL MAINE COMMUNITY BETTERMENT COLLABORATIVE WATERVILLE, ME | ECONOMIC DEVELOPMENT IN OAKLAND, ME | $10,000 |
| CHILDRENS DISCOVERY MUSEUM WATERVILLE, ME | CAPITAL CAMPAIGN MEMBERSHIP CHALLENGE | $200,000 |
| CIEE INC SOUTH PORTLAND, ME | 2024 JMG GLOBAL NAVIGATOR HIGH SCHOOL STUDY ABROAD SCHOLARSHIP | $18,662 |
Leadership & Key People
Leadership team and compensation from IRS filings
Board Members and Officers:
- William Alfond — President, Director (12.5 hours/week)
- Joan Alfond — Vice President, Director (7.5 hours/week)
- Gregory Powell — Treasurer (1.5 hours/week)
- Kenden Alfond — Director (1 hour/week)
- Justin Alfond — Director (1 hour/week)
- Reis Alfond — Director (1 hour/week)
- Elizabeth Menard — Secretary (1.5 hours/week)
All board members serve without compensation.
Background: Bill Alfond is the son of Harold Alfond, founder of Dexter Shoe Company. Bill inherited substantial wealth when his father's company was exchanged for Berkshire Hathaway stock. Joan Loring Alfond has a longtime commitment to youth education, beginning in Eastport, Maine, and including service as a former director with the Red Sox Foundation.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| JOAN ALFOND | VICE PRESIDENT, DIRECTOR | 7.5 | — |
| GREGORY POWELL SEE GENERAL EXPLANTN | TREASURER | 1.5 | — |
| WILLIAM ALFOND | PRESIDENT, DIRECTOR | 12.5 | — |
| KENDEN ALFOND | DIRECTOR | 1 | — |
| JUSTIN ALFOND | DIRECTOR | 1 | — |
| REIS ALFOND | DIRECTOR | 1 | — |
| ELIZABETH MENARD SEE GENRL EXPLANTN | SECRETARY | 1.5 | — |
Recent News & Activity
Recent developments and announcements
The foundation has been instrumental in supporting downtown Waterville's revitalization and building national models for early childhood education in central Maine. Recent grant activity demonstrates continued commitment to education infrastructure, healthcare capital improvements, and youth scholarship programs across Maine and Massachusetts.
McKenzie Clay Earns Tuition-Free Education to Thomas CollegeFrequently Asked Questions
What does Bill and Joan Alfond fund?
The foundation gives primarily for: • **Higher Education** — Grants generally support public and private colleges and universities, as well as private secondary schools, with emphasis on athletically oriented capital projects and scholarship endowment funds • **Healthcare and Medical Research** — Grants support public hospitals and medical research initiatives • **Economic Development** — Support for business and community development projects • **Youth Education Programs** — Emphasis on early …
How do I apply for a grant from Bill and Joan Alfond?
**Grant Activity:** • Annual giving: $2.34 million (2023); $3.44 million (2024) • Grant range: $10,000 to $5 million • Typical awards: $188 to $600,173 • Number of grants: 41-57 grants annually • Median grant amount: $14,000 **Application Process:** • Rolling basis with no fixed deadlines • For major grants, the foundation requires matching funds from other organizations and individuals • No public website; inquiries directed to foundation address and phone number **Recent Notable Grants (2024)…
Where does Bill and Joan Alfond make grants?
Primary focus on Maine, with particular emphasis on: • Portland area • Waterville area • Skowhegan area Secondary focus on Massachusetts.
What size grants does Bill and Joan Alfond award?
In 2024, Bill and Joan Alfond awarded 41 grants totaling $3.4M — an average of about $84K per grant, based on its IRS Form 990 filings.
How much is Bill and Joan Alfond required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Bill and Joan Alfond reported a distributable amount of $3.9M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Bill and Joan Alfond's EIN?
Bill and Joan Alfond's EIN (Employer Identification Number) is 01-0421806. 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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