Harold Alfond Foundation
The Harold Alfond Foundation, based in Portland, Maine, was founded in 1950 to further Harold Alfond’s philanthropic legacy. It invests in education, health care, and youth and community development, with an emphasis on large-scale projects intended to make enduring contributions to Maine.
Key facts about Harold Alfond Foundation
In short: Harold Alfond Foundation gave $102.7M across 45 grants in 2024 (avg $2.3M), mostly in Maine. 14% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- EIN
- 22-3281672
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $102,710,085
- Grants made (2024)
- 45
- Average grant
- $2,282,446
- Median grant
- $250,000
- New grantees (estimate)
- 14% first-time grantees (5 of 35, 2024)
- Total assets
- $1,043,199,225
- Primary geography
- Maine (87% of itemized 2024 grant dollars)
- How to apply
- The Foundation is not welcoming new grant applications at this time. Full details ↓
Data from IRS Form 990-PF, 2024; updated September 2026. New grantees are estimated by matching recipient names across years (methodology). Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$1.0B
+4.2% YoY
Annual Giving
$102.7M
+33.9% YoY
Grant Count
45
-10.0% YoY
Avg Grant Size
$2.3M
+48.8% YoY
Under IRS private-foundation payout rules, Harold Alfond Foundation reported a distributable amount of $76.8M for 2024 — the minimum it must pay out in qualifying distributions.
Is Harold Alfond Foundation open to new grantees?
14%
first-time grantees, 2024
In 2024, 5 of 35 grantees (14%) were first-time recipients. First grants averaged $1.7M; repeat grants $3.1M. How we count
Medians: $1.5M first-time, $375K repeat.
- 80% of 2024 grantees were also funded in 2023. Method
- Giving grew 41% from 2021 to 2024. Method
- In 2024 it paid out 135% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Mission & Focus Areas
The Foundation’s stated purpose is to honor and promote its founder’s values through transformative investments for the benefit of Maine. Its three broad areas of focus are education, health care, and youth and community development.
Education grants include capital, endowment, scholarship, and programmatic support, primarily for public and private colleges and universities. Health care grants support capital and program projects intended to improve care delivery and quality, promote centers of excellence, and advance education for Maine’s future health care professionals. Youth and community development support includes initiatives involving education, leadership development, job creation, sports, and recreation.
Recent grantees illustrate the range of organizations supported. The Alfond Scholarship Foundation says its mission is to provide incentive scholarship grants to Maine children for higher education and support their aspirations and preparation for it. MaineGeneral Health describes its mission as enhancing the health of patients, families, and communities. The University of New England says it prepares students to thrive in a changing world and improve the health of people, communities, and the planet. The Alfond Youth & Community Center says it seeks to inspire young people and families to realize their potential as productive, responsible, and caring citizens.
Grantmaking
In 2024, the Foundation reported 45 grants totaling $102,710,085. Grant amounts ranged from $150 to $28 million, with a median grant of $250,000.
Open Grants
1 open opportunity from Harold Alfond Foundation
Ready to take the next step with Harold Alfond Foundation?
Geographic Focus
Where this funder awards grants
The Foundation describes its investments as benefiting Maine and favors projects with transformative impact on the state. In 2024, 87% of grant dollars went to recipients in Maine and 13% to recipients in Massachusetts; reported shares for Florida and New York were 0%.
Grant Distribution by State
Share of 2024 grant dollars across all 45 itemized grants.
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $51.6M (2020) to $102.7M (2024). In 2024 it made 45 grants totaling $102.7M.
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was University of Maine Foundation ($28.5M across 2 grants). Together the top 10 received $87.7M.
Grant Size Distribution
282 grants across all recorded years
The most common grant size was under $50K: 125 grants of 282 (44%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| University of Maine Foundation Orono, ME | University of Maine Athletics Master Facilities Plan | $28,000,000 |
| Mainegeneral Health Augusta, ME | Harold Alfond Center for Cancer Care Expansion | $14,535,638 |
| Northeastern University Boston, MA | The harold alfond scholars initiative at the roux institute | $12,000,000 |
| University of Maine System Orono, ME | Revitalize graduate & professional center & engineering, computing, & info science | $7,000,000 |
| Alfond Scholarship Foundation Portland, ME | My Alfond Grant Scholarships 2024 | $5,609,911 |
| University of New England Biddeford, ME | The institute for interprofessional education & practice at une | $4,502,515 |
| Maine Community College System Augusta, ME | The center for the advancement of maines workforce: building a more prosperous Maine | $4,454,529 |
| Bigelow Laboratory for Ocean Sciences East Boothbay, ME | Bigelow Innovation and Education Wing | $3,869,390 |
| Thomas College Waterville, ME | Catalyzing Growth in Central Maine and Beyond | $3,000,000 |
| The Jackson Laboratory Bar Harbor, ME | Maine Cancer Genomics Initiative 2.0 | $2,500,000 |
Financial History
Multi-year comparison from IRS filings
The Foundation’s filing type is 990T. Reported financials were:
| Filing year | Assets | Revenue | Expenses | Grant sum | Grant count |
|---|---|---|---|---|---|
| 2024 | $1,043,199,225 | $171,021,822 | $128,278,530 | $102,710,085 | 45 |
| 2023 | $1,001,625,687 | $110,997,249 | $100,839,081 | $76,689,770 | 50 |
| 2022 | $991,967,446 | $111,359,503 | $100,360,598 | $74,289,012 | 59 |
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $1,043,199,225 | $1,001,625,687 | $991,967,446 |
| Revenue | $171,021,822 | $110,997,249 | $111,359,503 |
| Expenses | $128,278,530 | $100,839,081 | $100,360,598 |
| Qualifying Distributions | $103,933,245 | $78,127,104 | $75,835,478 |
| Net Investment Income | $76,689,920 | $40,534,011 | $68,228,491 |
| Distributable Amount | $76,772,405 | $71,653,842 | $72,086,016 |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing listed the following trustees: Theodore B. Alfond, William L. Alfond, Gregory W. Powell, Peter H. Lunder, Steven P. Akin, Theresa M. Stone, Barry Mills, Katharine Alfond, Justin Alfond, and Michael E. Dubyak.
Harold Alfond Foundation's 2024 filing lists 11 officers; none of the 11 officers listed in 2024 report compensation.
Officers on the 2024 filing
Barry Mills
Trustee
On filings since 2020
7 hrs/week
No compensation reported
Gregory W. Powell - See Statement
Trustee
On filings since 2020
27 hrs/week
No compensation reported
Justin Alfond
Trustee
On filings since 2020
7 hrs/week
No compensation reported
Katharine Alfond
Trustee
On filings since 2020
7 hrs/week
No compensation reported
Peter H. Lunder
Trustee
On filings since 2020
1 hr/week
No compensation reported
Steven P. Akin
Trustee
On filings since 2020
8 hrs/week
No compensation reported
Theodore B. Alfond
Trustee
On filings since 2020
7 hrs/week
No compensation reported
Theresa M. Stone
Trustee
On filings since 2020
7 hrs/week
No compensation reported
William L. Alfond
Trustee
On filings since 2020
7 hrs/week
No compensation reported
Michael E. Dubyak
Trustee
On filings since 2021
7 hrs/week
No compensation reported
Jennifer Seeman
Trustee
On filings since 2023
7 hrs/week
No compensation reported
Former officers (1)
- Former: David T. Flanagan (2020–2021) — Trustee
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Contact
Mailing address: Co Dexter Entrps Two Monument Sq, Portland, ME 04101
Phone: (207) 828-7999
Website: https://haroldalfondfoundation.org
Frequently asked questions about Harold Alfond Foundation
How much does Harold Alfond Foundation give each year?
Harold Alfond Foundation gave $102.7M across 45 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $76.7M across 50 grants.
What is Harold Alfond Foundation's typical grant size?
Harold Alfond Foundation's median grant in 2024 was $250,000, and its average grant was $2,282,446, across 45 grants on its 2024 IRS Form 990-PF. Organizations receiving their first grant from Harold Alfond Foundation that year got $1.7M on average.
Where does Harold Alfond Foundation give grants?
Harold Alfond Foundation gives mostly in Maine: 87% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The next largest state was Massachusetts (13%). The most frequent recipient cities were Waterville, ME (14 grants), Augusta, ME (7 grants), Orono, ME (4 grants) and Portland, ME (4 grants).
Does Harold Alfond Foundation give general operating support?
Yes: 36% of Harold Alfond Foundation's 2024 grants with a stated purpose (16 of 45) were for general or operating support, per its 2024 IRS Form 990-PF.
Who are Harold Alfond Foundation's largest grantees?
Harold Alfond Foundation's largest 2024 grantees include University of Maine Foundation ($28,500,000 across 2 grants), Mainegeneral Health ($14,535,638) and Northeastern University ($12,000,000), according to its 2024 IRS Form 990-PF. Together they received 54% of its itemized 2024 grant dollars.
How large is Harold Alfond Foundation?
Harold Alfond Foundation reported $1.0B in total assets on its 2024 IRS Form 990-PF. It paid out $103.9M in qualifying distributions that year, against a required minimum of $76.8M (roughly 5% of its investment assets).
What does Harold Alfond Foundation fund?
The Foundation’s stated purpose is to honor and promote its founder’s values through transformative investments for the benefit of Maine. Its three broad areas of focus are education, health care, and youth and community development. See mission & focus areas ↑
How do I apply for a grant from Harold Alfond Foundation?
The Foundation is not welcoming new grant applications at this time. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Harold Alfond Foundation's EIN?
Harold Alfond Foundation's EIN (Employer Identification Number) is 22-3281672. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
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