Fore River Foundation
The Fore River Foundation is a private foundation based in Portland, Maine, established in 1986. It operates as a 501(c)(3) organization with tax-exempt status since May 1988. The foundation does not maintain a public website, which limits transparency regarding its grantmaking strategies and guidelines.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$2.5M
-11.3% YoY
Annual Giving
$1.5M
-2.0% YoY
Grant Count
87
-8.4% YoY
Avg Grant Size
$18K
+7.0% YoY
Mission & Focus Areas
The foundation does not provide a published mission statement. However, based on its grantmaking patterns, the Fore River Foundation primarily funds organizations working in the following areas:
- Education
- Environmental conservation
- Historic preservation
- The arts
- Health
- Human services
- Philanthropy and grantmaking
Grantmaking
The foundation does not accept unsolicited requests. It is a selective funder that makes substantial grants to a limited number of organizations and modest grants to a broader range of recipients.
Grant Range
$5,000
How to Apply
**
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Geographic Focus
Where this funder awards grants
While the majority of the foundation's funding supports Maine-based organizations, it also provides grants to national organizations whose work aligns with its giving interests. Grantmaking extends to organizations in Florida and New York, among other locations.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of Fiscal Year Ending November 2024:
- Total assets: $2,504,877
- Total revenues: $1,270,639
- Total expenses: $1,588,921
- Net income: -$318,282
- Total liabilities: $0
Revenue Breakdown (FY 2024):
- Grants and contributions: $809,258
- Investment income and dividends: $92,327
- Net gain from sale of non-inventory assets: $369,054
Historical Context: The foundation is supported by the Quesada Family 2015 CLAT (Charitable Lead Annuity Trust).
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $2,504,877 | $2,823,159 | $3,199,955 |
| Revenue | $1,270,639 | $1,228,843 | $1,029,955 |
| Expenses | $1,588,921 | $1,605,639 | $1,861,078 |
| Qualifying Distributions | $1,569,206 | $1,591,905 | $1,833,816 |
| Net Investment Income | $450,413 | $513,232 | $396,892 |
| Distributable Amount | $156,828 | $187,853 | $251,900 |
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
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
The foundation is steered by family members, primarily:
- T. Ricardo Quesada – President/Director
- Peter W Quesada – Vice President/Treasurer
- Strand O Quesada – Vice President/Director
- Dennis C Keeler – Secretary
- Anthony C Quesada – Director
- Emily P Quesada – Director
- Charlotte R Quesada – Director
- Kate Davis Baxter – Director
- Eliza Wright Baxter – Director
T. Ricardo Quesada is a businessman who graduated from the University of Virginia in 1971 and attended its Graduate School of Architecture. He practiced architecture in Vancouver and Portland, Maine, before founding Fore River Company, a real estate firm focused on Maine properties with additional holdings in South Carolina. His brother Peter also serves in a leadership capacity. The Quesada family steers the General E R Educational Foundation in addition to the Fore River Foundation.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Peter W Quesada | VP/Treasurer | 0.5 | — |
| T Ricardo Quesada | Pres/Dir | 1 | — |
| Strand O Quesada | V.P./Dir | 2.5 | — |
| Dennis C Keeler | Secretary | — | — |
| Anthony C Quesada | Director | 0.5 | — |
| Emily P Quesada | Director | 0.5 | — |
| Charlotte R Quesada | Director | 0.5 | — |
| Kate Davis Baxter | Director | 0.5 | — |
| Eliza Wright Baxter | Director | 0.5 | — |
Recent News & Activity
Recent developments and announcements
The foundation has made recent grants supporting substance use prevention and workforce development initiatives, including funding for youth prevention programs on the Pine Ridge Reservation in South Dakota and support for innovative approaches to treatment and prevention of substance use disorder.
FORE Awards $550,000 Grant to Expand Youth Substance UseRelated Funders
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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