NSB Foundation Inc

Private foundation · Grantmaker Barre, VT EIN: 31-1713065

NSB Foundation Inc is a private foundation, based in Barre, VT. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $3.8M in total assets. In 2025, it awarded 5 grants totaling $116K. Net investment income was $268K.

Key facts about NSB Foundation Inc

In short: NSB Foundation Inc gave $116K across 5 grants in 2025 (avg $23K), mostly in Vermont. Source: 2025 IRS Form 990-PF.

EIN
31-1713065
Latest 990 filing
Form 990-PF, 2025
Annual giving (2025)
$116,000
Grants made (2025)
5
Average grant
$23,200
Median grant
$30,000
Total assets
$3,844,560
Primary geography
Vermont (100% of itemized 2025 grant dollars)

Data from IRS Form 990-PF, 2025; updated September 2026.

Financial Overview

From 2025 IRS Form 990-PF · View filing

Total Assets

$3.8M

+7.8% YoY

Annual Giving

$116K

-39.3% YoY

Grant Count

5

-37.5% YoY

Avg Grant Size

$23K

-2.8% YoY

Under IRS private-foundation payout rules, NSB Foundation Inc reported a distributable amount of $177K for 2025 — the minimum it must pay out in qualifying distributions.

How NSB Foundation Inc gives

  • Giving fell 42% from 2022 to 2025. Method
  • In 2025 it paid out 68% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method

From the foundation's IRS Form 990-PF filings. Methodology.

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

1state

Share of 2025 grant dollars across all 5 itemized grants.

States

Cities

BurlingtonBarreSouth BurlingtonColchesterWinooskiBrattleboroMontpelierRichmond

Giving Over Time

Total grant dollars and number of grants per year

$0$100K$200K$300K$400K6 grants2020 2 grants2021 8 grants2022 5 grants2023 8 grants2024 5 grants2025

From 2020 to 2025, annual grant giving ranged from $116K (2025) to $400K (2020). In 2025 it made 5 grants totaling $116K.

Grant Insights

How this funder distributes its grants

Top Recipients

Top 5 recipients in 2025

Elevate Youth Services: $50KElevate Youth Services$50KVermont Professionals of Color Network: $35KVermont Professionals of ColorNetwork$35KChamplain College: $30KChamplain College$30KCommunity College of Vermont: $500Community College of Vermont$500Good Samaritan Haven: $500Good Samaritan Haven$500

The largest 2025 recipient was Elevate Youth Services ($50K). Together the top 5 received $116K.

Grant Size Distribution

28 grants across all recorded years

19<$50K8$50–100K1$100–250K$250–500K$500K–1M$1–5M$5M+

The most common grant size was under $50K: 19 grants of 28 (68%).

Giving History

Grant recipients and amounts by year

RecipientPurposeAmount
Elevate Youth Services Barre, VTGeneral Operating Support$50,000
Vermont Professionals of Color Network Burlington, VTGeneral Operating Support$35,000
Champlain College Burlington, VTGeneral Operating Support$30,000
Community College of Vermont Winooski, VTGeneral Operating Support$500
Good Samaritan Haven Barre, VTGeneral Operating Support$500

Financial History

Multi-year comparison from IRS filings

Revenue
Expenses
Qualifying Distributions
Net Investment Income
$0$200K$400K$600K$800K2020 2021 2022 2023 2024 2025
Metric202520242023
Total Assets$3,844,560$3,566,701$3,379,278
Revenue$269,484$340,317$249,681
Expenses$128,717$202,188$231,653
Qualifying Distributions$120,925$197,870$230,346
Net Investment Income$268,409$339,342$182,923
Distributable Amount$177,258$169,885$155,721

Data update history

When this profile's IRS filing data changed on Grantable

  1. Updated Form 990-PF for fiscal year 2020 (received by the IRS March 23, 2021)
  2. Updated Form 990-PF for fiscal year 2021 (received by the IRS March 29, 2022)
  3. Updated Form 990-PF for fiscal year 2022 (received by the IRS May 8, 2023)
  4. Updated Form 990-PF for fiscal year 2023 (received by the IRS April 19, 2024)
  5. Updated Form 990-PF for fiscal year 2024 (received by the IRS April 23, 2025)
  6. Updated Form 990-PF for fiscal year 2025 (received by the IRS April 23, 2026)
  7. IRS filings on file for fiscal years 2020–2025

Leadership & Key People

Officers and directors from IRS filings

NSB Foundation Inc is led by Nicole Carignan, President & Chair on every filing since 2022; 7 of 11 officers listed in 2025 are compensated.

Officers on the 2025 filing

  • Nicole Carignan

    President & Chair

    On filings since 2022

    0.5 hrs/week

    $550 (2022) → $550 (2025)

  • Dolly Fleming

    Director

    On filings since 2021

    0.5 hrs/week

    $550 (2021) → $0 (2025)

  • Keith Paxman

    Director

    Director → Vice President & Vice Chair, 2022

    Vice President & Vice Chair → Director, 2025

    On filings since 2021

    0.5 hrs/week

    $550 (2021) → $550 (2025)

  • Owiso Makuku

    Director

    On filings since 2022

    0.5 hrs/week

    $550 (2022) → $550 (2025)

  • John Grenier

    Director

    On filings since 2023

    0.5 hrs/week

    $550 (2023) → $550 (2025)

  • Jennifer Emens-Butler

    Director

    On filings since 2024

    0.5 hrs/week

    $550 (2024) → $550 (2025)

  • Donna Austin-Hawley

    Director

    New on the 2025 filing

    0.5 hrs/week

    $550 (2025)

  • Kerin Stackpole

    Vice President & Vice Chair

    Director → Vice President & Vice Chair, 2025

    On filings since 2021

    0.5 hrs/week

    $550 (2021) → $550 (2025)

  • Edward Sulva

    Treasurer

    On filings since 2020

    0.5 hrs/week

    No compensation reported

  • Amy Turosak

    Secretary

    On filings since 2022

    0.5 hrs/week

    No compensation reported

  • Julie Therrien

    Treasurer

    New on the 2025 filing

    0.5 hrs/week

    No compensation reported

Former officers (10)
  • Former: Heather Shouldice (2021–2023) — Director
  • Former: Jason Grenier (2022) — Director
  • Former: Cheryl LaFrance (2020–2021) — Secretary
  • Former: Kim Bolduc (2020–2021) — Director
  • Former: Nicole Carrigan (2020–2021) — Director
  • Former: TJ Kingsbury (2020–2021) — Chair
  • Former: Keith Paxton (2020) — Director
  • Former: Marissa Parisi (2020) — Director
  • Former: Tom Robbins (2020) — Director
  • Former: Yael Friedman (2020) — Vice President & Director

Data from IRS Form 990 filings, 2020–2025. "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

Donna Austin-Hawley — Director: $550Donna Austin-HawleyDirector$550Jennifer Emens-Butler — Director: $550Jennifer Emens-ButlerDirector$550John Grenier — Director: $550John GrenierDirector$550Keith Paxman — Director: $550Keith PaxmanDirector$550Owiso Makuku — Director: $550Owiso MakukuDirector$550Nicole Carignan — President & Chair: $550Nicole CarignanPresident & Chair$550Kerin Stackpole — Vice President & Vice Chair: $550Kerin StackpoleVice President & Vice Chair$550

The highest reported compensation on the 2025 filing was $550, to Donna Austin-Hawley (Director). 7 officers or directors reported compensation on that filing.

Frequently asked questions about NSB Foundation Inc

How much does NSB Foundation Inc give each year?

NSB Foundation Inc gave $116K across 5 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $191K across 8 grants.

What is NSB Foundation Inc's typical grant size?

NSB Foundation Inc's median grant in 2025 was $30,000, and its average grant was $23,200, across 5 grants on its 2025 IRS Form 990-PF.

Where does NSB Foundation Inc give grants?

NSB Foundation Inc gives mostly in Vermont: 100% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Burlington, VT (2 grants) and Barre, VT (2 grants).

Does NSB Foundation Inc give general operating support?

Yes: 100% of NSB Foundation Inc's 2025 grants with a stated purpose (5 of 5) were for general or operating support, per its 2025 IRS Form 990-PF.

Who are NSB Foundation Inc's largest grantees?

NSB Foundation Inc's largest 2025 grantees include Elevate Youth Services ($50,000), Vermont Professionals of Color Network ($35,000) and Champlain College ($30,000), according to its 2025 IRS Form 990-PF. Together they received 99% of its itemized 2025 grant dollars.

How large is NSB Foundation Inc?

NSB Foundation Inc reported $3.8M in total assets on its 2025 IRS Form 990-PF. It paid out $121K in qualifying distributions that year, against a required minimum of $177K (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.

What is NSB Foundation Inc's EIN?

NSB Foundation Inc's EIN (Employer Identification Number) is 31-1713065. IRS Form 990 filing data is available on this page for 2020–2025.

Data last updated September 2026. Sourced from IRS Form 990-PF filings.

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