Putnam Bank Foundation

Putnam Bank Foundation maintains strong asset growth and zero executive compensation while fluctuating revenue supports consistent grantmaking.

EIN: 201716876 · Putnam, CT · NTEE: T21 · Updated: 2026-03-28

$332KRevenue

$2.4MAssets

95/100Mission Score (Excellent)

T21

About Putnam Bank Foundation

Putnam Bank Foundation (EIN: 201716876) is a nonprofit organization based in Putnam, CT, classified under NTEE code T21. The organization reported total revenue of $332K and total assets of $2.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Putnam Bank Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Putnam Bank Foundation demonstrates a consistent commitment to its mission, primarily through grantmaking, as evidenced by its NTEE code T21 (Grantmaking Foundations). The organization's financial health appears stable, with assets growing significantly over the past decade, from $521,677 in 2012 to $2,219,644 in 2024. Revenue has fluctuated, with a notable peak of $239,950 in 2013 and $204,850 in 2024, indicating reliance on varying funding streams. The foundation consistently reports 0% officer compensation, which is a strong indicator of efficient use of funds and a focus on program delivery rather than administrative overhead.

Spending efficiency is high, as the foundation's expenses are consistently lower than its revenue in recent years, allowing for asset growth. For instance, in 2024, expenses were $69,549 against $204,850 in revenue. The absence of officer compensation further reinforces its efficiency. Transparency is generally good, with a consistent filing history of 10 IRS 990 forms, providing a clear financial record over more than a decade. The foundation's primary function as a grantmaker inherently means its 'program spending' is the grants it distributes, which is a direct fulfillment of its mission.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Putnam 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: 0%
programs: 100%
fundraising: 0%

According to IRS 990 filings, Putnam Bank Foundation allocates its expenses as follows: admin: 0%, programs: 100%, fundraising: 0%. With 100% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Executive compensation is consistently reported at 0% across all available filings, indicating that the foundation's leadership is either volunteer-based or compensated through other means not reported as officer compensation, which is highly favorable for a nonprofit of its size.

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 Putnam Bank Foundation:

Consistent asset growth, from $521,677 in 2012 to $2,219,644 in 2024.
0% officer compensation reported across all filings, indicating high efficiency.
Strong program focus as a grantmaking foundation (NTEE T21).
Consistent IRS 990 filing history (10 filings), demonstrating transparency.
Expenses consistently lower than revenue in recent years, allowing for financial stability and growth.

Frequently Asked Questions about Putnam Bank Foundation

Is Putnam Bank Foundation a good charity?

Yes, based on the available IRS 990 data, Putnam Bank Foundation appears to be a good charity. It demonstrates strong financial health with growing assets, consistently reports 0% officer compensation, and its primary function as a grantmaking foundation means its expenses are directly tied to its charitable mission.

How does Putnam Bank Foundation manage its administrative costs?

The foundation manages administrative costs exceptionally well, as evidenced by the consistent reporting of 0% officer compensation across all filings. This suggests a highly efficient operational model, likely relying on volunteer efforts or minimal overhead for administrative functions, allowing more funds to be directed towards grants.

What is the trend in the foundation's assets?

The foundation's assets have shown a strong upward trend over the past decade, growing from $521,677 in 2012 to $2,219,644 in 2024, indicating sound financial management and accumulation of resources to support its grantmaking activities.

Filing History

IRS 990 filing history for Putnam Bank Foundation showing financial trends over 10 years of public records:

Over 10 years of IRS 990 filings (2012–2024), Putnam Bank Foundation's revenue has grown by 519.4%, moving from $33K to $205K. Total assets increased by 325.5% over the same period, from $522K to $2.2M. Total functional expenses fell by 18.4%, from $85K to $70K. In its most recent filing year (2024), Putnam Bank Foundation reported a surplus of $135K, with revenue exceeding expenses. The organization holds $15K in liabilities against $2.2M in assets (debt-to-asset ratio: 0.7%), resulting in net assets of $2.2M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2024	$205K	$70K	$2.2M	$15K	—	—
2023	$56K	$57K	$2.0M	$1	—	—
2022	$29K	$66K	$1.9M	$1	—	View 990
2021	$86K	$50K	$2.2M	$618	—	View 990
2020	$12K	$64K	$1.9M	$16K	—	View 990
2016	$17K	$50K	$1.2M	$60K	—	View 990
2015	$7K	$124K	$1.0M	$91K	—	View 990
2014	$0	$58K	$937K	$37K	—	View 990
2013	$240K	$70K	$875K	$52K	—	View 990
2012	$33K	$85K	$522K	$43K	—	View 990

Year-by-Year Financial Summary

2024: Revenue of $205K, expenses of $70K, and assets of $2.2M (revenue +263.9% year-over-year).
2023: Revenue of $56K, expenses of $57K, and assets of $2.0M (revenue +91.1% year-over-year).
2022: Revenue of $29K, expenses of $66K, and assets of $1.9M (revenue -65.7% year-over-year).
2021: Revenue of $86K, expenses of $50K, and assets of $2.2M (revenue +610.8% year-over-year).
2020: Revenue of $12K, expenses of $64K, and assets of $1.9M (revenue -28.2% year-over-year).
2016: Revenue of $17K, expenses of $50K, and assets of $1.2M (revenue +131.2% year-over-year).
2015: Revenue of $7K, expenses of $124K, and assets of $1.0M.
2014: Revenue of $0, expenses of $58K, and assets of $937K (revenue -100.0% year-over-year).
2013: Revenue of $240K, expenses of $70K, and assets of $875K (revenue +625.6% year-over-year).
2012: Revenue of $33K, expenses of $85K, and assets of $522K.

Data Sources and Methodology

This transparency report for Putnam 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.