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
Under IRS private-foundation payout rules, Machias Savings Bank Community reported a distributable amount of $230K for 2024 — the minimum it must pay out in qualifying distributions.
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
**
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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
Among its reported 2024 grants, the largest include Maine Lobstermen's Community Alliance ($50,000), Husson University ($25,000), FocusMaine ($15,000).
| Recipient | Purpose | Amount |
|---|---|---|
| Agassiz Village Framingham, MA | Program Support Grant | $2,000 |
| Alfond Youth & Community Center Waterville, ME | Program Support Grant | $2,500 |
| Avesta Housing Development Corporation Portland, ME | Program Support Grant | $7,500 |
| Big Brothers Big Sisters of Mid-Maine Camden, ME | Program Support Grant | $5,000 |
| Eastern Area Agency on Aging Brewer, ME | Program Support Grant | $5,000 |
| FocusMaine Augusta, ME | Program Support Grant | $15,000 |
| Greater Portland Immigrant Welcome Center Portland, ME | Program Support Grant | $5,000 |
| Husson University Bangor, ME | Program Support Grant | $25,000 |
| Immigrant Legal Advocacy Project Portland, ME | Program Support Grant | $5,000 |
| Information Technology Exchange Give IT Get IT Waterville, ME | Program Support Grant | $5,000 |
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
Frequently Asked Questions
What does Machias Savings Bank Community fund?
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 foundatio…
How do I apply for a grant from Machias Savings Bank Community?
**Grant Characteristics:** • Typical award range: $1,000–$50,000 • Grant types include program support grants, facilities support grants, and capital campaign support • The foundation made 70 grants in 2024 **Recent Grant Activity (2024):** • Maine Lobstermens Community Alliance: $50,000 (program support) • Husson University: $25,000 (program support) • Focusmaine: $15,000 (program support) **Application Process:** • Applicants should apply 30 days before their event or funding need • Decisions…
Where does Machias Savings Bank Community make 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.
What size grants does Machias Savings Bank Community award?
In 2024, Machias Savings Bank Community awarded 27 grants totaling $203K — an average of about $8K per grant, based on its IRS Form 990 filings.
How much is Machias Savings Bank Community required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Machias Savings Bank Community reported a distributable amount of $230K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Machias Savings Bank Community's EIN?
Machias Savings Bank Community's EIN (Employer Identification Number) is 01-0514175. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Machias Savings Bank Community'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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