Kennebec Savings Bank Foundation
Kennebec Savings Bank Foundation is a private foundation supported by Kennebec Savings Bank, based in Augusta, Maine. The foundation was established in 1985 and operates as a 501(c)(3) tax-exempt organization. It functions as a company-sponsored foundation dedicated to philanthropic giving in its service communities.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$16.8M
+15.9% YoY
Annual Giving
$824K
+20.6% YoY
Grant Count
99
+41.4% YoY
Avg Grant Size
$8K
-14.7% YoY
Under IRS private-foundation payout rules, Kennebec Savings Bank Foundation reported a distributable amount of $900K for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation's grantmaking focuses on education, human services, philanthropy and voluntarism, and youth services. The foundation supports programs benefiting children and youth, wildlife and animal rescue initiatives, and community development.
Grantmaking
The foundation is an active grantmaker with a substantial annual giving portfolio. In 2024, the foundation made 39 grants totaling $824,202. Typical grant awards range from $1,000 to $100,000.
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Geographic Focus
Where this funder awards grants
The foundation primarily funds organizations in Maine, with some giving activity in Virginia.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of 2024:
- Total assets: $16,849,007
- Total revenues: $3,249,408
- Total expenses: $904,529
- Total giving: $824,202
Investment income: $257,419 (2024)
The foundation maintains a strong financial position with substantial assets supporting its annual grantmaking activities.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $16,849,007 | $14,532,949 | $12,773,073 |
| Revenue | $3,249,408 | $502,300 | $297,072 |
| Expenses | $904,529 | $741,724 | $772,212 |
| Qualifying Distributions | $829,077 | $685,687 | $683,904 |
| Net Investment Income | $2,338,256 | $446,263 | $239,183 |
| Distributable Amount | $899,605 | $665,679 | $671,783 |
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
239 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include MaineGeneral Health ($100,000), MaineGeneral Health ($70,000), United Way of Kennebec Valley ($51,152).
| Recipient | Purpose | Amount |
|---|---|---|
| MaineGeneral Health Waterville, ME | Harold Alfond Center for Cancer Care Campaign | $100,000 |
| MaineGeneral Health Waterville, ME | Harold Alfond Center for Cancer Care Campaign | $70,000 |
| United Way of Kennebec Valley Augusta, ME | Annual Corporate Contribution | $51,152 |
| Portland Little League Portland, ME | Pedro Field Improvements Matching Grant | $50,000 |
| Alfond Youth & Community Center Waterville, ME | Camp Tracy Campaign | $35,000 |
| Kennebec Valley Humane Society Augusta, VA | Capital Campaign Donation | $25,000 |
| Waterville Historical Society Waterville, ME | Center for Local History and Culture | $25,000 |
| Tedford Housing Brunswick, ME | Capital Campaign | $25,000 |
| CYC Lake Association Manchester, ME | Challenge Grant Pledge Payment | $20,000 |
| Capital Area Recreation Association Augusta, ME | Groomer Campaign | $20,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
Andrew Silsby is listed as a key contact for the foundation.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Andrew E Silsby | President/Clerk | 1 | — |
| Debra A Getchell | Treasurer | 1 | — |
| Craig J Garofalo | Vice President | 1 | — |
| Amy P Tardiff | Director | 1 | — |
| Charles W Hays Jr | Director | 1 | — |
| Mark L Johnston | Director | 1 | — |
| William W Sprague Jr | Director | 1 | — |
| Norman S Elvin | Director | 1 | — |
| Diane F Hastings | Director | 1 | — |
| Mary A Dennison | Director | 1 | — |
| Christopher L Gaunce | Director | 1 | — |
| Alison A Lorenz | Director | 1 | — |
| Douglas E Reinhardt | Past Director | 1 | — |
Recent News & Activity
Recent developments and announcements
The foundation has been active in awarding Catalyst Grants to support nonprofit expansion and community engagement. In 2024, the foundation awarded $30,000 Catalyst Grants to local nonprofits. Similar grants were awarded in 2023 and 2022 to organizations including the Children's Center and Viles Arboretum.
Kennebec Savings Bank awards $30,000 Catalyst Grants to local nonprofitsFrequently Asked Questions
What does Kennebec Savings Bank Foundation fund?
The foundation's grantmaking focuses on education, human services, philanthropy and voluntarism, and youth services. The foundation supports programs benefiting children and youth, wildlife and animal rescue initiatives, and community development.
How do I apply for a grant from Kennebec Savings Bank Foundation?
The foundation is an active grantmaker with a substantial annual giving portfolio. In 2024, the foundation made 39 grants totaling $824,202. Typical grant awards range from $1,000 to $100,000. Recent grants include: • United Way of Kennebec Valley: $51,152 (Annual Corporate Contribution) • Alfond Youth and Community Center: $35,000 (Camp Tracy Campaign) • Waterville Historical Society: $25,000 (Center for Local History and Culture) The foundation also administers Catalyst Grants, which provide …
Where does Kennebec Savings Bank Foundation make grants?
The foundation primarily funds organizations in Maine, with some giving activity in Virginia.
What size grants does Kennebec Savings Bank Foundation award?
In 2024, Kennebec Savings Bank Foundation awarded 99 grants totaling $824K — an average of about $8K per grant, based on its IRS Form 990 filings.
How much is Kennebec Savings Bank Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Kennebec Savings Bank Foundation reported a distributable amount of $900K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Kennebec Savings Bank Foundation's EIN?
Kennebec Savings Bank Foundation's EIN (Employer Identification Number) is 22-2624600. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Kennebec Savings Bank Foundation'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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