The Bank of Maine Charitable Foundation

CAMDEN, ME EIN: 01-0446023

The Bank of Maine Charitable Foundation is a private foundation, based in CAMDEN, ME. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $233K in total assets. In 2024, it awarded 6 grants totaling $25K. Net investment income was $545.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$233K

-10.1% YoY

Annual Giving

$25K

-28.9% YoY

Grant Count

-33.3% YoY

Avg Grant Size

$4K

+6.7% YoY

Under IRS private-foundation payout rules, The Bank of Maine Charitable Foundation reported a distributable amount of $11K for 2024 — the minimum it must pay out in qualifying distributions.

About The Bank of Maine Charitable Foundation

Based on IRS filings

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

Maine $192K (100%)

States

Maine

Cities

AuburnAugustaBangorBlue HillBristoBrunswickCamdenFalmouthGardinerHinckleyJonesportMilbridgeOronoPortlandRocklandUnityWatervilleWest Gardiner

Financial History

Multi-year comparison from IRS filings

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$233,326	$259,466	$301,312
Revenue	$545	$649	$2,298
Expenses	$26,685	$42,495	$44,125
Qualifying Distributions	$26,685	$42,195	$43,725
Net Investment Income	$545	$349	$1,898
Distributable Amount	$10,628	$14,239	$15,976

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 6 recipients in 2024

Grant Size Distribution

44 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest include SaltWater Classroom ($5,000), The Center for Grieving Children ($5,000), Maine Academy of Modern Music ($5,000).

Recipient	Purpose	Amount
SaltWater Classroom Camden, ME	2024 Leaders & Luminaries Award	$5,000
The Center for Grieving Children Portland, ME	2024 Leaders & Luminaries Award	$5,000
Maine Academy of Modern Music Portland, ME	2024 Leaders & Luminaries Award	$5,000
ClimateWork Maine Portland, ME	2024 Leaders & Luminaries Award	$5,000
Challenger Learning Center of Maine Bangor, ME	2024 Leaders & Luminaries Spotlight Award	$2,000
Kennebec Valley YMCA Augusta, ME	Sponsor: 2024 Strong Kids Campaign & Auction	$2,650

Leadership & Key People

Officers and directors from IRS filings

Compensation Overview

From 2024 IRS filing

From 2024 filing

Name	Title	Hours	Compensation
Renee Smyth	President	1	—
Terri Tooley	Treasurer	1	—

Frequently Asked Questions

How large is The Bank of Maine Charitable Foundation?

As of 2024, The Bank of Maine Charitable Foundation holds $233K in total assets with $545 in annual revenue. It awarded 6 grants totaling $25K in 2024.

Where does The Bank of Maine Charitable Foundation operate?

The Bank of Maine Charitable Foundation has awarded grants in Maine.

What size grants does The Bank of Maine Charitable Foundation award?

In 2024, The Bank of Maine Charitable Foundation awarded 6 grants totaling $25K — an average of about $4K per grant, based on its IRS Form 990 filings.

How much is The Bank of Maine Charitable Foundation required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, The Bank of Maine Charitable Foundation reported a distributable amount of $11K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.

What is The Bank of Maine Charitable Foundation's EIN?

The Bank of Maine Charitable Foundation's EIN (Employer Identification Number) is 01-0446023. IRS Form 990 filing data is available on this page for 2020–2024.