Franklin Savings Bank Community
Franklin Savings Bank Community Development Foundation is a private 501(c)(3) grantmaking foundation based in Farmington, Maine. Established in 2000 by the board of directors of Franklin Savings Bank—a community bank founded in 1868—the foundation serves as the philanthropic arm of the bank. The foundation supports economic, community, and educational needs across Western and Central Maine and surrounding regions.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$4.2M
+6.5% YoY
Annual Giving
$408K
-16.5% YoY
Grant Count
135
-3.6% YoY
Avg Grant Size
$3K
-13.4% YoY
Under IRS private-foundation payout rules, Franklin Savings Bank Community reported a distributable amount of $189K for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation supports health centers and organizations involved with arts and culture, education, recreation, children services, and community economic development.
Primary grantmaking areas of interest include:
- Economic Development – Groups that target economic development and bring business and jobs to communities
- Housing – Low-income housing efforts and groups providing benefits to low-income individuals
- Job Training – Job retraining efforts for workers displaced from traditional industries
- Education – Educational initiatives and scholarships
- Food Security – Food pantries and hunger relief organizations
- Community Services – General operating support for community service projects
Grantmaking
The foundation accepts applications year-round. Customers of Franklin Savings Bank can submit charitable donation requests through the bank's Charitable Donation Request Application to recommend organizations for support.
Grant Range
$100–$71,850
Average Grant
approximately $3,000–$15,000 (varies by program)
How to Apply
**
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Geographic Focus
Where this funder awards grants
The foundation primarily serves Western and Central Maine, with funding extending to:
- Maine (primary focus)
- New Hampshire
- New York
- Florida
- Georgia
- Massachusetts
Specific Maine communities served include Farmington, Rumford, Wilton, Jay, Rangeley, Skowhegan, Ellsworth, and Portland, among others.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
As of 2023:
- Total Assets: $3,929,337
- Total Revenue: $625,626
- Total Expenses: $491,730
- Total Giving: $488,430–$489,680
- Giving Rate: 12.7%
As of 2024:
- Total Assets: $4,182,943
- Total Revenue: $667,168
- Total Expenses: $414,012
Liabilities: $0 (as of 2023)
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $4,182,943 | $3,929,337 | $3,795,441 |
| Revenue | $667,168 | $625,626 | $565,356 |
| Expenses | $414,012 | $491,730 | $240,481 |
| Qualifying Distributions | $409,087 | $489,680 | $238,954 |
| Net Investment Income | $163,189 | $121,216 | $57,566 |
| Distributable Amount | $189,028 | $182,709 | $168,343 |
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 Black Mountain of Maine ($29,000), Avesta Housing Development Corporation ($25,000), Heart of Ellsworth ($16,000).
| Recipient | Purpose | Amount |
|---|---|---|
| 30 Mile River Watershed Association Mount Vernon, ME | General Operating Support | $2,000 |
| Albiston Foundation Carrabassett Valley, ME | General Operating Support | $2,000 |
| Androscoggin Community Events & Services Rumford, ME | General Operating Support | $500 |
| Androscoggin Land Trust Inc Auburn, ME | General Operating Support | $1,000 |
| Area Youth Sports Inc Jay, ME | General Operating Support | $500 |
| ArtVan Brunswick, ME | General Operating Support | $1,500 |
| Autism Society of Maine Winthrop, ME | General Operating Support | $500 |
| Avesta Housing Development Corporation Portland, ME | General Operating Support | $25,000 |
| Bagaduce River Equine Rescue Brooksville, ME | General Operating Support | $126 |
| Bay School Blue Hill, ME | General Operating Support | $10,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
Board of Directors:
- Peter L. Judkins – Chairperson
- Timothy J. Thompson – President
- Pamala J. Dixon – Treasurer and Secretary
- Bradford S. Adley – Director
- Robert L. Berry III – Director
- James L. Eastlack – Director
- Richard H. Smith – Director
- James M. Witt IV – Director
- Katherine W. Yardley – Director (started June 2023)
- Dylan Smith – Assistant Treasurer
All board members serve without compensation, dedicating approximately 1 hour per week to the foundation.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Bradford S Adley | Director | 1 | — |
| Robert L Berry III | Director | 1 | — |
| James L Eastlack | Director | 1 | — |
| Richard H Smith | Director | 1 | — |
| James M Witt IV | Director | 1 | — |
| Katherine W Yardley | Director | 1 | — |
| Peter L Judkins | Chairperson | 1 | — |
| Timothy J Thompson | President | 1 | — |
| Pamala J Dixon | Treasurer and Secretary | 1 | — |
| Dylan Smith | Assistant Treasurer | 1 | — |
Recent News & Activity
Recent developments and announcements
In 2024, Franklin Savings Bank Community Development Foundation donated $407,000 to local charitable organizations and scholarships distributed across 158 diverse organizations throughout Western and Central Maine. Recent notable grants include:
Franklin Savings Bank Grant Supports New Music Room At Tapply-Thompson CommunityBlack Mountain of Maine: $29,000 (General Operating Support, 2024)
Avesta Housing Development Corporation: $25,000 (General Operating Support, 2024)
Heart of Ellsworth: $16,000 (General Operating Support, 2024)
Good Shepherd Food Bank of Maine: $71,850 (General Operating Support, 2023)
Main Street Skowhegan: $39,250 (General Operating Support, 2023)
The foundation also supports the Franklin Scholars program, awarding 10 annual college scholarships to graduating seniors from regional high schools (Mt. Blue, Mountain Valley, Mt. Abram, Dirigo, Jay, Livermore Falls, Madison, Skowhegan, and Rangeley Lakes Regional) who plan to attend four-year colleges with concentrations in accounting, finance, computer science, marketing, or other business-related fields.
Franklin Savings Bank Grant Supports New Music Room At Tapply-Thompson CommunitySubject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Franklin Savings Bank Community fund?
The foundation supports health centers and organizations involved with arts and culture, education, recreation, children services, and community economic development. Primary grantmaking areas of interest include: • **Economic Development** – Groups that target economic development and bring business and jobs to communities • **Housing** – Low-income housing efforts and groups providing benefits to low-income individuals • **Job Training** – Job retraining efforts for workers displaced from tra…
How do I apply for a grant from Franklin Savings Bank Community?
**Grant Amounts:** • Grant range: $100–$71,850 • Average grant size: approximately $3,000–$15,000 (varies by program) • Median grant amount: $2,100 **Grant Programs:** • General Operating Support (163 recipients, averaging $3,187) • Food Pantry grants (8 recipients, averaging $2,375) • General Support and Scholarships (4 recipients, averaging $3,083) • St. Anthony's Soup Kitchen support ($2,000 average) • Franklin Scholars program (10 college scholarships annually) **Recent Activity:** • 2024: …
Where does Franklin Savings Bank Community make grants?
The foundation primarily serves Western and Central Maine, with funding extending to: • Maine (primary focus) • New Hampshire • New York • Florida • Georgia • Massachusetts Specific Maine communities served include Farmington, Rumford, Wilton, Jay, Rangeley, Skowhegan, Ellsworth, and Portland, among others.
What size grants does Franklin Savings Bank Community award?
In 2024, Franklin Savings Bank Community awarded 135 grants totaling $408K — an average of about $3K per grant, based on its IRS Form 990 filings.
How much is Franklin Savings Bank Community required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Franklin Savings Bank Community reported a distributable amount of $189K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Franklin Savings Bank Community's EIN?
Franklin Savings Bank Community's EIN (Employer Identification Number) is 31-1719226. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Franklin Savings Bank Community'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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