Mascoma Savings Bank Foundation
- Assets
- $6.4m
- Revenue
- $872.8k
- Investments
- $6.2m
- Employees
- 0
- Location
- Lebanon, NH
- Founding
- 08/1987
- Data as of
- 12/2021
- EIN
- 22-2816632
Organization Overview
Mascoma Savings Bank Foundation is located in Lebanon, NH. The organization was established in 1987. 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. Mascoma Savings Bank 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, Mascoma Savings Bank Foundation generated $872.8k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 32.1% each year . All expenses for the organization totaled $451.3k during the year ending 12/2021. While expenses have increased by 4.6% per year over the past 4 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.
Since 2020, Mascoma Savings Bank Foundation has awarded 172 individual grants totaling $1,462,500. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edward Kerrigan Trustee | 1 | $0 | |
Merritt Patridge Trustee | 1 | $0 | |
Gretchen Cherington Trustee | 1 | $0 | |
Deirdre Goodrich Trustee | 1 | $0 | |
Gary Gray Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $293,910 |
| Interest on Savings | $18 |
| Dividends & Interest | $107,921 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $469,802 |
| Capital Gain Net Income | $469,802 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,152 |
| Total Revenue | $872,803 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $816 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $10,485 |
| Total operating and administrative expenses | $53,848 |
| Contributions, gifts, grants paid | $397,500 |
| Total expenses and disbursements | $451,348 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,500 |
| Savings and temporary cash investments | $153,370 |
| 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 | $6,137,003 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $6,399,459 |
| 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, Mascoma Savings Bank Foundation has awarded $397,500 in support to 38 organizations.
| Grant Recipient | Amount |
|---|---|
Meriden, NH PURPOSE: NEW LIBRARY BUILDING | $37,500 |
Winchester, NH PURPOSE: EXPANSION PROJECT | $25,000 |
Tunbridge, VT PURPOSE: NEW CHILDCARE FACILTY | $25,000 |
MASCOMA LAKESIDE PARK COMMITTEETOWN OF ENFIELD PURPOSE: PARK DEVELOPMENT | $20,000 |
Keene, NH PURPOSE: BUILDING | $20,000 |
Burlington, VT PURPOSE: WATERFRONT REDEVELOPMENT | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Adelson Family Foundation Needham, MA | $5,626,414 | $49,822,227 |
The Morningside Foundation Newton Centre, MA | $22,445,720 | $11,895,776 |
The Patrick J Mcgovern Foundation Inc Boston, MA | $1,660,673,846 | $20,910,577 |
One8 Foundation Boston, MA | $488,764,350 | $32,279,319 |
Flatley Foundation Braintree, MA | $730,489,671 | $65,780,367 |
Iiegn Family Foundation Boston, MA | $7,705,932 | $1,021,594 |
State Street Foundation Inc Boston, MA | $7,590,446 | $6,540 |
Td Charitable Foundation Falmouth, ME | $0 | $26,328,021 |
Edward C Johnson Fund Boston, MA | $418,919,628 | $48,451,859 |
Broad Reach Foundation Boston, MA | $154,449,873 | $51,427,992 |
Tjx Foundation Inc Framingham, MA | $84,142,448 | $26,109,203 |
Richard And Susan Smith Family Foundation Newton, MA | $287,463,199 | $21,143,524 |