Burns Family Foundation Inc
- Assets
- $6.9m
- Revenue
- $320.6k
- Investments
- $6.3m
- Employees
- 0
- Location
- Damariscotta, ME
- Founding
- 09/2014
- Data as of
- 06/2023
- EIN
- 46-5671844
Organization Overview
Burns Family Foundation Inc is located in Damariscotta, ME. The organization was established in 2014. 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. Burns Family Foundation Inc 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 06/2023, Burns Family Foundation Inc generated $320.6k 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 (19.1%) each year. All expenses for the organization totaled $811.4k during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Burns Family Foundation Inc has awarded 74 individual grants totaling $2,141,524. 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 |
|---|---|---|---|
Ann C Mcfarland Director | 1 | $0 | |
Elizabeth C Graves Director | 1 | $0 | |
John Schianchi Director | 0 | $0 | |
John J Lynch Executive Director | 10 | $20,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $34 |
| Dividends & Interest | $205,269 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $115,288 |
| Capital Gain Net Income | $115,288 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $320,591 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $20,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $6,954 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $3,762 |
| Total operating and administrative expenses | $106,938 |
| Contributions, gifts, grants paid | $704,476 |
| Total expenses and disbursements | $811,414 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,559 |
| Savings and temporary cash investments | $605,183 |
| 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 | $754,714 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $9,312 |
| Total assets | $6,898,845 |
| 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 | $1,350 |
| Total liabilities | $1,350 |
Grants Awarded
Over the last fiscal year, Burns Family Foundation Inc has awarded $704,476 in support to 27 organizations.
| Grant Recipient | Amount |
|---|---|
CARING FOR KIDS IN BRISTOL PURPOSE: SUPPORT OF OPERATIONS | $5,000 |
CENTRAL LINCOLN COUNTY ADULT & COMMUNITY EDUCATION PURPOSE: SUPPORT OF OPERATIONS | $25,000 |
CENTRAL LINCOLN COUNTY AMBULANCE SERVICE PURPOSE: SUPPORT OF OPERATIONS | $50,000 |
CHIP INC PURPOSE: SUPPORT OF OPERATIONS | $10,000 |
COASTAL KIDS PRESCHOOL PURPOSE: SUPPORT OF OPERATIONS | $20,000 |
COMMUNITY ENERGY FUND OF LINCOLN COUNTY PURPOSE: HEATING OIL AND ENERGY ASSISTANCE | $35,000 |