Skowhegan Savings Charitable Foundation
- Assets
- $2.9m
- Revenue
- $453.0k
- Investments
- $2.2m
- Employees
- 0
- Location
- Skowhegan, ME
- Founding
- 11/2011
- Data as of
- 12/2022
- EIN
- 27-4318997
Organization Overview
Skowhegan Savings Charitable Foundation is located in Skowhegan, ME. The organization was established in 2011. According to its NTEE Classification (P12) the organization is classified as: Fund Raising & Fund Distribution, 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. Skowhegan Savings Charitable 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 12/2022, Skowhegan Savings Charitable Foundation generated $453.0k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $333.1k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Skowhegan Savings Charitable Foundation has awarded 47 individual grants totaling $672,500. 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 |
|---|---|---|---|
John Witherspoon President | 1 | $0 | |
Richard St Pierre Vice-President & Treasurer | 1 | $0 | |
Vicki Alward Director | 1 | $0 | |
Carolann Ouellette Director | 1 | $0 | |
Samuel Hight Director | 1 | $0 | |
Michael Dugay Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $950 |
| Interest on Savings | $0 |
| Dividends & Interest | $46,598 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $405,439 |
| Capital Gain Net Income | $405,559 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $452,987 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $278 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $5,759 |
| Total operating and administrative expenses | $13,083 |
| Contributions, gifts, grants paid | $320,000 |
| Total expenses and disbursements | $333,083 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,755 |
| Savings and temporary cash investments | $700,435 |
| 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 | $366,701 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,948,634 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $184,500 |
| 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 | $184,500 |
Grants Awarded
Over the last fiscal year, Skowhegan Savings Charitable Foundation has awarded $344,500 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
SKOWHEGAN EARLY CHILDHOOD EDUCATION CENTER PURPOSE: NEW EARLY CHILDHOOD EDUCATION CENTER AS APART OF THE NEW SKOWHEGAN ELEMENTARY SCHOOL. | $100,000 |
TRUST TO CONSERVE NORTHEAST FORESTLANDS PURPOSE: TO HELP SUPPORT LOGGING OPERATIONS PROGRAM | $15,000 |
CENTRAL MAINE GROWTH COUNCIL PURPOSE: DIRIGO LABS PITCH PRIZE AND SPONSORSHIP TO HELP SUPPORT A STARTUP INITIATIVE THAT SCORES THE HIGHEST OVERALL PITCH | $25,000 |
GOOD WILL HINCKLEY HOME PURPOSE: COLLEGE STEP-UP & TRANSITIONS PROGRAM | $4,500 |
SKOWHEGAN EARLY CHILDHOOD EDUCATION CENTER PURPOSE: TO HELP WITH THE CONSTRUCTION OF THE NEW EARLY CHILDHOOD EDUCATION CENTER AS APART OF THE NEW SKOWHEGAN ELEMENTARY SCHOOL. | $150,000 |
MAIN STREET SKOWHEGAN PURPOSE: SKOWHEGAN BUSINESS CENTER | $20,000 |