Hattie a and Fred C Lynam Trust

CONCORD, NH EIN: 01-0222218 Website

The Hattie A. and Fred C. Lynam Trust is an independent foundation established in 1942 to support the Mount Desert Island community. The trust was created by Fred C. Lynam, who founded Bar Harbor Banking & Trust Company in 1887, and his wife Hattie. The trust is administered and invested by Bar Harbor Wealth Management, a subsidiary of Bar Harbor Bank & Trust.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$5.1M

+6.0% YoY

Annual Giving

$283K

+0.7% YoY

Grant Count

+0.0% YoY

Avg Grant Size

$283K

+0.7% YoY

Under IRS private-foundation payout rules, Hattie a and Fred C Lynam Trust reported a distributable amount of $279K for 2024 — the minimum it must pay out in qualifying distributions.

Research compiled by Grantable AI from public sources. Last updated April 2026.

Mission & Focus Areas

The Lynam Trust provides grants to charitable, religious, and educational organizations serving Mount Desert Island, as well as academic scholarships to graduates of Mount Desert Island High School. The trust's mission reflects Fred and Hattie Lynam's dedication to their community through investment of time, resources, and entrepreneurship.

Grantmaking

Review Cycle

- Application materials are available at www.lynamtrust.com/grants

How to Apply

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Geographic Focus

Where this funder awards grants

Mount Desert Island, Maine

Grant Distribution by State

Maine $1.2M (100%)

Massachusetts $1K (0%)

+8 more states

States

Arizona California Connecticut Florida Indiana Massachusetts Maine Montana North Carolina New Hampshire New Jersey New York Ohio Pennsylvania Rhode Island Vermont

Cities

AllentownAmherstAnnandale On HudsonAshevilleAugustaBangorBar HarborBeverlyBloomingtonBostonBozemanBrattleboroBridgewaterBurlingtonCambridgeCantonCarlisleCastineCoral GablesDurham

Financial History

Multi-year comparison from IRS filings

Total Assets: $5,077,748 (as of most recent IRS Form 990 filing in 2024)
Total Annual Giving: $282,654 (2024)
Cumulative Impact: The trust has provided grants and scholarships exceeding $3 million over more than 80 years, assisting hundreds of beneficiaries

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$5,077,748	$4,792,572	$4,775,499
Revenue	$614,606	$332,825	$229,755
Expenses	$329,767	$320,201	$318,016
Qualifying Distributions	$302,117	$299,281	$289,195
Net Investment Income	$594,210	$312,150	$206,403
Distributable Amount	$278,969	$269,555	$274,462

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 1 recipients in 2024

Grant Size Distribution

54 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest include Various Charities ($282,654).

Recipient	Purpose	Amount
VARIOUS CHARITIES ELLSWORTH, ME	GENERAL PURPOSES	$282,654

Leadership & Key People

Officers and directors from IRS filings

Compensation Overview

From 2024 IRS filing

From 2024 filing

Name	Title	Hours	Compensation
BAR HARBOR WEALTH MANAGEMENT	TRUSTEE	15	$37,125

Recent News & Activity

Recent developments and announcements

2025

The Lynam Trust conducts annual grant cycles, typically accepting applications through mid-September. In December 2025, the trust announced $136,000 in grants distributed to 38 Mount Desert Island organizations. The trust continues to accept applications annually for both organizational grants and individual scholarships to Mount Desert Island High School graduates.

Hattie A. & Fred C. Lynam Trust Awards $136,000 to Mount Desert ...

Subject Areas

Focus areas based on grantmaking activity

Philanthropy, Voluntarism & Grantmaking

Frequently Asked Questions

What does Hattie a and Fred C Lynam Trust fund?

How do I apply for a grant from Hattie a and Fred C Lynam Trust?

**Grant Amounts:** Typical grant awards range between $500 and $5,000 per organization. **Eligible Uses:** Grants may be awarded for operational needs, facilities, or capital campaigns. **Eligibility Requirements:** • Organizations must be established as tax-exempt under IRS section 501(c)(3) • Primary administrative office must be located on Mount Desert Island • Individuals are not eligible to receive grants **Application Process:** • Applications are accepted annually, typically with a Septe…

Where does Hattie a and Fred C Lynam Trust make grants?

Mount Desert Island, Maine

What size grants does Hattie a and Fred C Lynam Trust award?

In 2024, Hattie a and Fred C Lynam Trust awarded 1 grants totaling $283K — an average of about $283K per grant, based on its IRS Form 990 filings.

How much is Hattie a and Fred C Lynam Trust required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, Hattie a and Fred C Lynam Trust reported a distributable amount of $279K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.

What is Hattie a and Fred C Lynam Trust's EIN?

Hattie a and Fred C Lynam Trust's EIN (Employer Identification Number) is 01-0222218. IRS Form 990 filing data is available on this page for 2020–2024.