Machias Savings Bank Community
Machias Savings Bank Community Development Foundation is a private 501(c)(3) foundation based in Machias, Maine. Established in 1998, the foundation operates as the philanthropic arm of Machias Savings Bank, focusing on community development and nonprofit support across Maine and New Hampshire.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$3.9M
+15.8% YoY
Annual Giving
$203K
-16.5% YoY
Grant Count
27
-22.9% YoY
Avg Grant Size
$8K
+8.2% YoY
Mission & Focus Areas
The foundation's mission is to improve financial health—one person, one business, and one community at a time. The organization believes that building prosperity for all strengthens thriving communities.
Primary funding priorities include:
- Workforce development
- Financial education and financial health
- Youth programming
- Childcare
- Broadband connectivity
- Entrepreneurship
- Low to moderate income programming
- Basic needs (food, housing, and healthcare)
Exclusions: The foundation does not award donations to religious or political organizations unless the programming addresses food insecurity or advances financial health. Donations to individuals are not awarded.
Grantmaking
Grant Types
How to Apply
**
Ready to take the next step with Machias Savings Bank Community?
Geographic Focus
Where this funder awards grants
The foundation primarily funds organizations in Maine and Massachusetts, with special emphasis on the service areas of Machias Savings Bank, including regions across Maine and New Hampshire.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of 2024:
- Total assets: $3,942,418
- Total revenue: $750,066
- Total expenses: $212,801
- Total giving: $202,640
- Annual income: $4.2M
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $3,942,418 | $3,404,153 | $3,401,143 |
| Revenue | $750,066 | $253,476 | $-23,824 |
| Expenses | $212,801 | $249,466 | $164,866 |
| Qualifying Distributions | $203,465 | $243,325 | $160,300 |
| Net Investment Income | $741,123 | $247,335 | $49,877 |
| Distributable Amount | $229,679 | $197,887 | $202,049 |
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
152 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Telford Allen III | Director | 0.2 | — |
| LuAnn Ballesteros | Director | 0.2 | — |
| Chris Fitzpatrick | Director | 0.2 | — |
| Robert W Foster | Director | 0.2 | — |
| Brent K Hartley | Director | 0.2 | — |
| Zachary Means | Director | 0.2 | — |
| Donald E Reynolds | Director | 0.2 | — |
| Oliver Smith | Director | 0.2 | — |
| Lawrence L Barker | Director/President | 0.2 | — |
| Christian A Lyford | Vice President | 0.2 | — |
| Matthew J Walsh | Treasurer | 0.2 | — |
| Nathan J Martell | Secretary | 0.2 | — |
Recent News & Activity
Recent developments and announcements
In 2024, Machias Savings Bank announced a $100,000 Community Development Grant program, opening applications for nonprofit organizations. The foundation has demonstrated active grantmaking, with recent donations including $10,000 to Healthy Acadia for community health initiatives.
Giving Guidelines Q&A - Machias Savings BankThe bank emphasizes its commitment to strengthening the workforce and financial well-being of communities through partnerships with nonprofit organizations focused on workforce development, entrepreneurship, and financial health programming.
Subject Areas
Focus areas based on grantmaking activity
Related Funders
Similar funders by location and focus area
Grand Chapter of Maine Order of the Eastern Star
AUGUSTA, ME
Assets
$2.9M
Grants
1
Total Given
$5K
Bangor Theological Seminary
PORTLAND, ME
Assets
$22.4M
Grants
3
Total Given
$11K
Maine Hospital Association Inc
AUGUSTA, ME
Assets
$8.0M
Grants
1
Total Given
$10K
Bowery Beach School Bldg Maintenance Tr
SOUTH PORTLAND, ME
Assets
$29K
Grants
0
Total Given
—
United Way of Tri Vally Area
FARMINGTON, ME
Assets
$306K
Grants
13
Total Given
$77K
Elmina B Sewall Foundation
FREEPORT, ME
Assets
$164.8M
Grants
296
Total Given
$14.4M
Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
What could you do with Machias Savings Bank Community on Grantable?
- Assess strategic fit with your organization
- Draft a tailored letter of inquiry
- Find open RFPs from this funder
- Monitor for new funding opportunities