Bangor Ymca Foundation
- Assets
- $2.2m
- Revenue
- $302.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Bangor, ME
- Founding
- 12/1972
- Data as of
- 12/2021
- EIN
- 01-6013485
Organization Overview
Bangor Ymca Foundation is located in Bangor, ME. The organization was established in 1972. According to its NTEE Classification (P27) the organization is classified as: Young Mens or Womens Associations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bangor YMCA 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, Bangor YMCA Foundation generated $302.8k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.8% each year . All expenses for the organization totaled $32.9k during the year ending 12/2021. While expenses have increased by 16.0% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE STABLE AND PERMANENT SUPPORT FOR THE CAPITAL NEEDS OF THE BANGOR Y, ENSURING IT REMAINS A VITAL PART OF OUR COMMUNITY FOREVER, AND CONTINUES TO SERVE THE NEEDS OF OUR CHILDREN, TEENS, FAMILIES, AND SENIORS OF THE REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASSISTED BANGOR Y IN CARRYING OUT ITS CHARITABLE, SOCIAL AND BENEVOLENT PURPOSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sally Arata Vice Preside | OfficerTrustee | 1 | $0 |
Douglas Farnham President | OfficerTrustee | 1.5 | $0 |
Paul Newman Treasurer | OfficerTrustee | 0.25 | $0 |
Hans Peterson Clerk | OfficerTrustee | 0.25 | $0 |
Diane Dickerson Secretary | Officer | 1 | $0 |
Neil Mackay Secretary | Officer | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,050 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,050 |
| Total Program Service Revenue | $0 |
| Investment income | $21,256 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $274,519 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $302,825 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $20,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $120 |
| Fees for services: Accounting | $3,455 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,477 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,545 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,301 |
| All other expenses | $0 |
| Total functional expenses | $32,898 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $44,316 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,199,401 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,243,717 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $18,479 |
| Total liabilities | $18,479 |
| Net assets without donor restrictions | $2,086,749 |
| Net assets with donor restrictions | $138,489 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,243,717 |
Endowment Analysis
| Beg. Balance | $1,998,500 |
| Earnings | $246,109 |
| Net Contributions | $7,050 |
| Other Expense | $6,421 |
| Grants | $20,000 |
| Ending Balance | $2,225,238 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Young Mens Christian Association Of Southern Maine Portland, ME | $12,960,885 | $7,079,431 |
Bangor Young Mens Christian Association Bangor, ME | $20,516,429 | $15,937,355 |
Concord Family Ymca Concord, NH | $0 | $2,463,949 |
Down East Family Ymca Ellsworth, ME | $3,285,467 | $5,309,341 |
Penobscot Bay Ymca Rockport, ME | $11,714,416 | $4,267,385 |
Young Mens Christian Association Ymca Camp Coniston Inc Grantham, NH | $10,729,273 | $5,482,065 |
Keene Young Mens Christian Association Keene, NH | $13,306,435 | $3,956,681 |
Young Mens Christian Association Booth Bay Region Boothbay Harbor, ME | $25,612,940 | $5,989,695 |
Bath Area Family Ymca Bath, ME | $8,511,150 | $3,889,439 |
Young Mens Christian Association Auburn-Lewiston Maine Auburn, ME | $9,172,706 | $4,117,782 |
Young Mens Christian Association Sanford-Springvale Sanford, ME | $9,131,196 | $3,686,573 |
Kennebec Valley Ymca Augusta, ME | $9,025,672 | $3,123,548 |