Hattie a and Fred C Lynam Trust
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
1
+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.
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
States
Cities
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
| 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
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
Frequently Asked Questions
What does Hattie a and Fred C Lynam Trust fund?
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.
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.
Explore Open Grants
Browse active grant opportunities in Hattie a and Fred C Lynam Trust'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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