Kennebunk Savings Bank Foundation
Kennebunk Savings Bank Foundation maintains strong assets and zero executive compensation, directing all funds to mission.
EIN: 10547392 · Kennebunk, ME · NTEE: T22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $758K |
| Total Expenses | $564K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $4 |
| Net Assets | $4.3M |
| Transparency Score | 95/100 |
Is Kennebunk Savings Bank Foundation Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Kennebunk Savings Bank Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Kennebunk Savings Bank Foundation
Kennebunk Savings Bank Foundation (EIN: 10547392) is a nonprofit organization based in Kennebunk, ME, classified under NTEE code T22. The organization reported total revenue of $758K and total assets of $3.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Kennebunk Savings Bank Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Kennebunk Savings Bank Foundation is a small nonprofit that has been operating for 24 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 14.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $768K |
| Total Expenses | $564K |
| Surplus / Deficit | +$204K |
| Total Assets | $4.3M |
| Total Liabilities | $1 |
| Net Assets | $4.3M |
| Operating Margin | 26.5% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 90.6 months |
Financial Health Grade: A
In 2023, Kennebunk Savings Bank Foundation reported a surplus of $204K with revenue exceeding expenses, holds 90.6 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Kennebunk Savings Bank Foundation's revenue has grown at a compound annual growth rate (CAGR) of 14.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -30.8% | -6.2% | +5.0% |
| 2022 | +101.2% | -6.4% | +14.3% |
| 2021 | -16.6% | +13.7% | -2.5% |
| 2020 | +17.2% | -3.1% | +2.7% |
| 2019 | +50.8% | +85.3% | +1.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2002 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Kennebunk Savings Bank Foundation with a Mission Score of 95 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Kennebunk Savings Bank Foundation allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $204K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no officers receive salaries from the foundation, which is highly commendable for an organization of its size with assets over $4 million.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Strengths
The following positive indicators were identified for Kennebunk Savings Bank Foundation:
- Zero officer compensation reported across all filings, indicating high efficiency and dedication to mission.
- Consistent growth in assets, reaching $4,257,399 in 2023, demonstrating strong financial health.
- Very low liabilities, often reported as $1 or $0, reflecting responsible financial management.
- Stable expense levels relative to revenue fluctuations, suggesting predictable operational costs and grantmaking capacity.
- Long history of IRS 990 filings (10 filings), indicating consistent compliance and transparency.
Frequently Asked Questions about Kennebunk Savings Bank Foundation
Is Kennebunk Savings Bank Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Kennebunk Savings Bank Foundation (EIN: 10547392) appears legitimate. Mission Score: 95/100. 0 red flags identified, 5 strengths noted.
How does Kennebunk Savings Bank Foundation spend its money?
Kennebunk Savings Bank Foundation directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Kennebunk Savings Bank Foundation tax-deductible?
Kennebunk Savings Bank Foundation is registered as a tax-exempt nonprofit (EIN: 10547392). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Kennebunk Savings Bank Foundation CEO make?
Kennebunk Savings Bank Foundation's highest-compensated officer earns $4 annually. The organization reported $758K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
How does Kennebunk Savings Bank Foundation compare to similar nonprofits?
With a transparency score of 95/100 (Excellent), Kennebunk Savings Bank Foundation is above average for NTEE category T22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Kennebunk Savings Bank Foundation located?
Kennebunk Savings Bank Foundation is headquartered in Kennebunk, Maine and files with the IRS under EIN 10547392. It is classified under NTEE code T22.
How many years of IRS 990 filings does Kennebunk Savings Bank Foundation have?
Kennebunk Savings Bank Foundation has 10 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $758K in total revenue.
Is Kennebunk Savings Bank Foundation a good charity?
Based on the provided data, Kennebunk Savings Bank Foundation appears to be a very good charity. It consistently reports zero officer compensation, maintains strong assets (over $4.2 million in 2023), and has a history of responsible financial management with low liabilities.
How does Kennebunk Savings Bank Foundation manage its administrative costs?
While specific administrative expense ratios are not detailed, the consistent reporting of 0% officer compensation strongly suggests very low administrative overhead, as a significant portion of administrative costs often comes from executive salaries.
What is the trend in the foundation's assets?
The foundation's assets have shown consistent growth over the long term, from $3,471,173 in 2011 to $4,257,399 in 2023, indicating strong financial stewardship and endowment building.
Filing History
IRS 990 filing history for Kennebunk Savings Bank Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Kennebunk Savings Bank Foundation's revenue has grown by 385.1%, moving from $158K to $768K. Total assets increased by 22.7% over the same period, from $3.5M to $4.3M. Total functional expenses rose by 147.5%, from $228K to $564K. In its most recent filing year (2023), Kennebunk Savings Bank Foundation reported a surplus of $204K, with revenue exceeding expenses. The organization holds $1 in liabilities against $4.3M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $4.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $768K | $564K | $4.3M | $1 | — | View 990 |
| 2022 | $1.1M | $601K | $4.1M | $1 | — | View 990 |
| 2021 | $551K | $642K | $3.5M | $1 | — | — |
| 2020 | $661K | $565K | $3.6M | $1 | — | View 990 |
| 2019 | $564K | $583K | $3.5M | $0 | — | View 990 |
| 2015 | $374K | $315K | $3.5M | $0 | — | View 990 |
| 2014 | $348K | $347K | $3.4M | $0 | — | View 990 |
| 2013 | $321K | $237K | $3.4M | $0 | — | View 990 |
| 2012 | $108K | $245K | $3.3M | $0 | — | View 990 |
| 2011 | $158K | $228K | $3.5M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $768K, expenses of $564K, and assets of $4.3M (revenue -30.8% year-over-year).
- 2022: Revenue of $1.1M, expenses of $601K, and assets of $4.1M (revenue +101.2% year-over-year).
- 2021: Revenue of $551K, expenses of $642K, and assets of $3.5M (revenue -16.6% year-over-year).
- 2020: Revenue of $661K, expenses of $565K, and assets of $3.6M (revenue +17.2% year-over-year).
- 2019: Revenue of $564K, expenses of $583K, and assets of $3.5M (revenue +50.8% year-over-year).
- 2015: Revenue of $374K, expenses of $315K, and assets of $3.5M (revenue +7.5% year-over-year).
- 2014: Revenue of $348K, expenses of $347K, and assets of $3.4M (revenue +8.5% year-over-year).
- 2013: Revenue of $321K, expenses of $237K, and assets of $3.4M (revenue +198.1% year-over-year).
- 2012: Revenue of $108K, expenses of $245K, and assets of $3.3M (revenue -32.0% year-over-year).
- 2011: Revenue of $158K, expenses of $228K, and assets of $3.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Kennebunk Savings Bank Foundation:
Data Sources and Methodology
This transparency report for Kennebunk Savings Bank Foundation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.