Bangor Masonic Foundation

Analysis

Bangor Masonic Foundation is a registered charity in United States, based in Hampden, ME. It received its IRS tax-exemption ruling in August 2007, 19 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Bangor Masonic Foundation reported income of $369k and spending of $174k, leaving 53% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $124k to $369k (+197%), an average of +31% a year. The sharpest change came in the year to December 2023, when income rose by 168%. Over the whole period it spent 90% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Bangor Masonic Foundation sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 61st percentile within ME. Charities of a similar size with the same main cause include Smsna Foundation ($369k), Above the Rest Academy ($369k) and Team Hill Foundation Inc ($369k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 20% and program service revenue 24% of the total. Compensation of current officers, directors and key employees was $2,500 (1.4% of expenses). At year end it held assets of $1.8m against liabilities of $0, net assets of $1.8m.