Libra Foundation
Libra Foundation is a private foundation based in Portland, Maine, established by Elizabeth B. Noyce and active since June 1989. It supports charitable organizations and activities taking place in Maine, with stated priorities that include Maine economic development, children’s welfare, and broader social progress.
Libra Foundation at a glance
In short: Libra Foundation gave $4.3M across 56 grants in 2025 (avg $76K), mostly in Maine. 4% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $4,260,000
- -18.1% vs 2024
- Grants made (2025)
- 56
- -16.4% vs 2024
- Average grant
- $76,071
- -2.0% vs 2024
- Median grant
- $5,000
- Total assets
- $156,547,414
- -3.1% vs 2024
- New grantees (estimate)
- 4% first-time grantees (2 of 56, 2025)
- Primary geography
- Maine (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to Libra Foundation
- Accepts unsolicited proposals
- Yes
- How to Apply
-
The foundation accepts unsolicited requests through its formal application process, but its website says it is not accepting new applications during its announced pause. Its stated expected September 2026 meeting cycle had an August 15, 2026 deadline, which has passed.
- Review Cycle
- The website says requests are due by the 15th of the month before meetings in March, June, September, and December. The foundation’s 2025 filing lists no deadlines.
- Deadline
- The website says requests are due by the 15th of the month before meetings in March, June, September, and December.
- Next open deadline
- November 15, 2026 (Libra Foundation Grant)
- Contact
Application contact: Jere G Michelson
Mailing address: PO Box 17516, Portland, ME 04112
Phone: (207) 879-6280
Website: https://librafoundation.org
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Open Grants
1 open opportunity from Libra Foundation
Who Libra Foundation funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Pineland Farms Inc ($3.8M). Together the top 10 received $4.0M.
Grant Size Distribution
356 grants across all recorded years
The most common grant size was under $50K: 325 grants of 356 (91%).
Geographic Focus
Where this funder awards grants
The foundation’s website limits grants to charitable organizations, activities, operations, or purposes that take place within Maine. All reported 2025 grant dollars went to recipients in Maine.
Grant Distribution by State
Share of 2025 grant dollars across all 56 itemized grants.
Cities
Is Libra Foundation open to new grantees?
4%
first-time grantees, 2025
In 2025, 2 of 56 grantees (4%) were first-time recipients. First grants averaged $5K; repeat grants $79K. How we count
Medians: $5K first-time, $5K repeat.
- 95% of 2025 grantees were also funded in 2024. Method
- Giving fell 33% from 2022 to 2025. Method
- In 2025 it paid out 116% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2019–2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $4.3M (2025) to $8.6M (2019). In 2025 it made 56 grants totaling $4.3M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Pineland Farms Inc New Gloucester, ME | Develop, operate and staff pineland farms, inc. For agricultural promotion, education and research in Maine | $3,845,000 |
| Fort Kent Outdoor Center Fort Kent, ME | General Operating Support | $50,000 |
| Farnsworth Art Museum Rockland, ME | General Operating Support | $20,000 |
| Portland Museum of Art Portland, ME | General Operating Support | $20,000 |
| Portland Stage Company Portland, ME | General Operating Support | $20,000 |
| Portland Symphony Orchestra Portland, ME | General Operating Support | $20,000 |
| Good Shepherd Food Bank Auburn, ME | General Operating Support | $10,000 |
| Island Institute Rockland, ME | General Operating Support | $10,000 |
| Maine Historical Society Portland, ME | General Operating Support | $10,000 |
| Maine Maritime Museum Bath, ME | General Operating Support | $10,000 |
Ready to take the next step with Libra Foundation?
Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $156,547,414 | $721,434 | $7,538,226 | $4,260,000 | 56 | $8,483,582 | — | $7,339,542 |
| 2024 | $161,557,671 | $-1,523,256 | $8,208,021 | $5,201,471 | 67 | $9,428,577 | — | $6,626,047 |
| 2023 | $170,023,543 | $-339,498 | $9,054,568 | $6,062,723 | 65 | $9,902,582 | — | $6,895,170 |
| 2022 | $174,993,751 | $-2,662,658 | $9,064,186 | $6,318,580 | 80 | $10,278,739 | — | $7,091,963 |
| 2021 | $194,515,715 | $7,192,031 | $9,143,227 | $6,371,938 | 88 | $10,002,275 | $5,603,570 | $7,686,539 |
| 2020 | $199,450,345 | $2,837,625 | $8,856,909 | $6,424,386 | 87 | — | $1,627,694 | $7,541,981 |
| 2019 | $202,681,986 | $435,378 | $9,412,972 | $8,577,354 | 88 | — | — | $8,929,487 |
Under IRS private-foundation payout rules, Libra Foundation reported a distributable amount of $7.3M for 2025 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
The foundation says it seeks to maintain a balance and diversity of giving throughout Maine and across populations, and to enrich Maine, empower communities, and improve quality of life for Maine residents. Its guidelines describe a focus on Maine-based economic development, entrepreneurial activity and job creation, as well as programs benefiting children. It also funds efforts with significant social benefit, including work that may not be financially self-sustaining.
Recent grantees illustrate the range of organizations supported. The Portland Museum of Art describes its mission as making art accessible to all; Portland Stage Company says it invests in art, learning, and connecting diverse communities through theater and programs. Island Institute says it works with island and coastal communities on climate and economic change. Good Shepherd Food Bank describes its mission as improving access to food and working to eliminate hunger in Maine. These are the grantees’ descriptions of their own missions.
Grantmaking
In filing year 2025, Libra reported 56 grants totaling $4,260,000. Grant amounts ranged from $5,000 to $3,845,000, with a median of $5,000. The largest grant was $3,845,000 to Pineland Farms Inc. for developing, operating, and staffing the organization for agricultural promotion, education, and research in Maine. Other notable grants included $50,000 to Fort Kent Outdoor Center and $20,000 each to the Farnsworth Art Museum, Portland Museum of Art, Portland Stage Company, and Portland Symphony Orchestra. The foundation also gave $10,000 each to Good Shepherd Food Bank, Island Institute, Maine Historical Society, Maine Maritime Museum, Maine Public, and Peregrine Corporation dba STRIVE.
The foundation’s website says formal applications are the norm, while it also proactively solicits some groups and undertakes special programs. Its application materials request information about the organization, project, amount sought, geographic area and number of people served, along with a project description, detailed budget, board list, and IRS determination letter. Applicants must be tax-exempt under Section 501(c)(3), not private foundations under Section 509(a), and use funds for charitable purposes taking place within Maine. The website says grants usually do not exceed $25,000, and the foundation does not normally fund annual campaigns for regular operations or make multiyear gifts.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Craig N. Denekas as chairman/CEO and Jere G. Michelson as president/COO/CFO. It also lists Owen W. Wells, Pendred E. Noyce, William J. Ryan, and Rhianon R. Liu as trustees, and Erik Hayward and Paul Pietropaoli as executive vice presidents.
Libra Foundation is led by Craig N. Denekas, Chairman & CEO on every filing since 2019; 5 of 8 officers listed in 2025 are compensated.
Officers on the 2025 filing
Craig N. Denekas
Chairman & CEO
On filings since 2019
50 hrs/week
$333K (2019) → $421K (2025)
Jere G. Michelson
President, COO & CFO
On filings since 2019
50 hrs/week
$323K (2019) → $427K (2025)
Owen W. Wells
Trustee
On filings since 2019
30 hrs/week
$101K (2019) → $100K (2025)
Pendred E. Noyce
Trustee
On filings since 2019
10 hrs/week
No compensation reported
William J. Ryan
Trustee
On filings since 2019
10 hrs/week
No compensation reported
Rhianon R. Liu
Trustee
New on the 2025 filing
10 hrs/week
No compensation reported
Erik Hayward
Executive Vice President
Senior Vice President → Executive Vice President, 2021
On filings since 2019
50 hrs/week
$212K (2019) → $321K (2025)
Paul Pietropaoli
Executive Vice President
General Counsel → Executive Vice President, 2021
On filings since 2020
50 hrs/week
$208K (2020) → $321K (2025)
Data from IRS Form 990 filings, 2019–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $427K, to Jere G Michelson (President/COO/CFO). 5 officers or directors reported compensation on that filing.
Frequently asked questions about Libra Foundation
How much does Libra Foundation give each year?
Libra Foundation gave $4.3M across 56 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $5.2M across 67 grants.
What is Libra Foundation's typical grant size?
Libra Foundation's median grant in 2025 was $5,000, and its average grant was $76,071, across 56 grants on its 2025 IRS Form 990-PF. Organizations receiving their first grant from Libra Foundation that year got $5K on average.
Where does Libra Foundation give grants?
Libra Foundation gives mostly in Maine: 100% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Portland, ME (16 grants), Bangor, ME (5 grants), Rockland, ME (4 grants) and Winthrop, ME (2 grants).
Does Libra Foundation give general operating support?
Yes: 95% of Libra Foundation's 2025 grants with a stated purpose (53 of 56) were for general or operating support, per its 2025 IRS Form 990-PF.
Who are Libra Foundation's largest grantees?
Libra Foundation's largest 2025 grantees include Pineland Farms Inc ($3,845,000), Fort Kent Outdoor Center ($50,000) and Farnsworth Art Museum ($20,000), according to its 2025 IRS Form 990-PF. Together they received 92% of its itemized 2025 grant dollars.
How large is Libra Foundation?
Libra Foundation reported $156.5M in total assets on its 2025 IRS Form 990-PF. It paid out $8.5M in qualifying distributions that year, against a required minimum of $7.3M (roughly 5% of its investment assets).
What does Libra Foundation fund?
The foundation says it seeks to maintain a balance and diversity of giving throughout Maine and across populations, and to enrich Maine, empower communities, and improve quality of life for Maine residents. See mission & focus areas ↑
How do I apply for a grant from Libra Foundation?
The foundation accepts unsolicited requests through its formal application process, but its website says it is not accepting new applications during its announced pause. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Libra Foundation's EIN?
Libra Foundation's EIN (Employer Identification Number) is 04-6626994. IRS Form 990 filing data is available on this page for 2019–2025.
Does Libra Foundation accept unsolicited proposals?
Yes, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Data update history
(3)
When this profile's IRS filing data changed on Grantable
- Added Form 990-PF for fiscal year 2019 (received by the IRS June 9, 2020)
- Added Form 990-PF for fiscal year 2025 (received by the IRS August 26, 2026)
- IRS filings on file for fiscal years 2020–2024
Explore Open Grants
Browse active grant opportunities in Libra Foundation's focus areas in our free grants database
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Cite this profile
Grantable. (2026). Libra Foundation funder profile. GrantGraph. Retrieved October 12, 2026, from https://grantable.co/funders/libra-foundation-morg_fb0848089f694fef8e870d08796b9c64
BibTeX
@misc{grantable_046626994_2026,
author = {{Grantable}},
title = {{Libra Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/libra-foundation-morg_fb0848089f694fef8e870d08796b9c64},
note = {Accessed 2026-10-12. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from Libra Foundation's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
Libra Foundation down — hundreds of funders to go?