Francis T & Louise T Nichols Foundation
- Assets
- $18.2m
- Revenue
- $3.2m
- Investments
- $17.0m
- Employees
- 0
- Location
- Bangor, ME
- Founding
- 05/1995
- Data as of
- 12/2021
- EIN
- 01-0493311
Organization Overview
Francis T & Louise T Nichols Foundation is located in Bangor, ME. The organization was established in 1995. According to its NTEE Classification (T30) the organization is classified as: Public 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. Francis T & Louise T Nichols 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, Francis T & Louise T Nichols Foundation generated $3.2m in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $2.6m during the year ending 12/2021. While expenses have increased by 7.5% per year over the past 3 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Calvin True Trustee | 6 | $141,687 | |
William Nichols Trustee | 2 | $0 | |
Susan Thibault Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $859,983 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,376,452 |
| Capital Gain Net Income | $2,376,452 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $3,236,435 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $141,687 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $23,224 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $230,608 |
| Contributions, gifts, grants paid | $2,375,000 |
| Total expenses and disbursements | $2,605,608 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,109,590 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $18,153,366 |
| 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 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wolfes Neck Farm Foundation Inc Freeport, ME | $12,188,100 | $5,656,149 |
Francis T & Louise T Nichols Foundation Bangor, ME | $18,153,366 | $3,236,435 |
Horizon Foundation Inc Portland, ME | $24,987,883 | $2,103,553 |
Burns Family Foundation Inc Damariscotta, ME | $7,389,840 | $428,121 |
Information Technology Exchange Searsport, ME | $1,439,216 | $1,322,404 |
Positive Tracks Inc Hanover, NH | $788,895 | $936,477 |
Land Conservation Assistance Network Yarmouth, ME | $35,022 | $631,077 |
Krempels Center Portsmouth, NH | $1,041,013 | $734,120 |
Watermans Community Center North Haven, ME | $3,096,274 | $570,258 |
Charitable Division Of The Rotary Club Of Portsmouth New Hampshire Portsmouth, NH | $3,205,504 | $502,112 |
Islesboro Islands Trust Islesboro, ME | $4,486,881 | $831,070 |
Hine Corporation Scarborough, ME | $1,274,954 | $334,482 |