Margaret Chase Smith Foundation
- Assets
- $16.1m
- Revenue
- $149.8k
- Investments
- $15.0m
- Employees
- 0
- Location
- Portland, ME
- Founding
- 04/1984
- Data as of
- 12/2021
- EIN
- 01-0388680
Organization Overview
Margaret Chase Smith Foundation is located in Portland, ME. The organization was established in 1984. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Margaret Chase Smith Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Margaret Chase Smith Foundation generated $149.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (14.4%) each year. All expenses for the organization totaled $603.2k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Margaret Chase Smith Foundation has awarded 40 individual grants totaling $151,164. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
MARGARET CHASE SMITH LIBRARY - THE LIBRARY OPENED IN 1982 AND ENCOMPASSES THE ARCHIVAL AND LIBRARY COLLECTIONS, MEMORABILIA AND RESIDENCE OF SENATOR MARGARET CHASE SMITH. THE LIBRARY HAS A THREE FOLD MISSION OF SERVING AS AN ARCHIVE, AS A MUSEUM AND AS AN EDUCATIONAL AND PUBLIC POLICY CENTER. IT IS RECOGNIZED AS ONE OF THE PREMIER CONGRESSIONAL LIBRARIES IN THE UNITED STATES. SINCE THE FOUNDING OF THE LIBRARY, THE MARGARET CHASE SMITH FOUNDATION HAS PROVIDED FINANCIAL SUPPORT OF THE LIBRARY VIA FUNDING TO NORTHWOOD UNIVERSITY. IN 2011, THE FOUNDATION PURCHASED THE LIBRARY'S COLLECTIONS AND REAL ESTATE FROM NORTHWOOD UNIVERSITY AND NOW DIRECTLY OPERATES THE LIBRARY THROUGH AN OPERATING CONTRACT WITH THE UNIVERSITY OF MAINE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael J Quinlan Treasurer/secretary | 0.5 | $0 | |
Davida D Barter Director | 0.38 | $0 | |
Charles L Cragin ESQ President | 0.5 | $0 | |
Joseph Hanslip Director | 0.38 | $0 | |
John M Bernier Director | 0.38 | $0 | |
Paula D Silsby Director | 0.38 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $15,100 |
| Interest on Savings | $0 |
| Dividends & Interest | $233,563 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$98,985 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $124 |
| Total Revenue | $149,802 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $7 |
| Depreciation | $45,165 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $436,866 |
| Total operating and administrative expenses | $563,075 |
| Contributions, gifts, grants paid | $40,165 |
| Total expenses and disbursements | $603,240 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $68,745 |
| Savings and temporary cash investments | $450,612 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $771,297 |
| Net Land, buildings, and equipment | $500,655 |
| Other assets | $0 |
| Total assets | $16,066,037 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Margaret Chase Smith Foundation has awarded $74,780 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
US NAVAL ACADEMY FOUNDATION PURPOSE: EDUCATION - LEADERSHIP AND ETHICS FOR WOMEN IN MILITARY SERVICE | $10,000 |
WEST POINT ASSOCIATION OF GRADUATES PURPOSE: EDUCATION - LEADERSHIP AND ETHICS FOR WOMEN IN MILITARY SERVICE | $10,000 |
UNIVERSITY OF MAINE -- MARGARET CHASE SMITH POLICY CENTER PURPOSE: EDUCATION - MAINE POLICY REVIEW | $10,000 |
US NAVAL ACADEMY FOUNDATION PURPOSE: EDUCATION - LEADERSHIP AND ETHICS FOR WOMEN IN MILITARY SERVICE | $10,000 |
WEST POINT ASSOCIATION OF GRADUATES PURPOSE: EDUCATION - LEADERSHIP AND ETHICS FOR WOMEN IN MILITARY SERVICE | $10,000 |
UNIVERSITY OF MAINE -- MARGARET CHASE SMITH POLICY CENTER PURPOSE: EDUCATION - MAINE POLICY REVIEW | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Td Charitable Foundation Falmouth, ME | $0 | $26,328,021 |
P M Allen Family Foundation Hanover, NH | $110,796,013 | $13,365,268 |
Rannie Webster Foundation Rye, NH | $21,769,366 | $13,522,122 |
Elmina B Sewall Foundation Freeport, ME | $198,399,545 | $18,229,129 |
Lunder Foundation Portland, ME | $114,918 | $28,179,943 |
Otto And Fran Walter Foundation Inc Boothbay Harbor, ME | $14,780,673 | $2,403,803 |
The Jack & Dorothy Byrne Foundation Inc Hanover, NH | $178,090 | $5,355,970 |
The Birchtree Center Portsmouth, NH | $2,377,101 | $5,561,187 |
The Bill And Joan Alfond Foundation Portland, ME | $33,512,660 | $6,141,856 |
Friends Of Notre-Dame De Paris Inc Etna, NH | $24,880,670 | $12,372,128 |
Sam L Cohen Foundation Portland, ME | $30,483,258 | $3,967,796 |
Huber Foundation Falmouth, ME | $75,719,525 | $3,696,908 |