Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
right arrowDo not enter social security numbers on this form as it may be made public.
right arrowGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2023
Open to Public Inspection
For calendar year 2023, or tax year beginning 04-01-2023 , and ending 03-31-2024
Name of foundation
Bangor Savings Bank Foundation
 
Number and street (or P.O. box number if mail is not delivered to street address)24 Hamlin Way PO Box 930
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Bangor, ME044020930
A Employer identification number

04-3353896
B Telephone number (see instructions)

(207) 942-5211
C right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$9,938,208J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 575,000
2 Check right arrow.............
3 Interest on savings and temporary cash investments 101,454 101,454  
4 Dividends and interest from securities... 153,612 153,612  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 91,173
b Gross sales price for all assets on line 6a 2,322,079
7 Capital gain net income (from Part IV, line 2)... 91,173
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
466 466  
12 Total. Add lines 1 through 11........ 921,705 346,705  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
2,500 1,250   1,250
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
40,510 40,510   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)...        
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule).......        
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 43,010 41,760   1,250
25 Contributions, gifts, grants paid....... 1,246,813 1,246,813
26 Total expenses and disbursements. Add lines 24 and 25 1,289,823 41,760   1,248,063
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -368,118
b Net investment income (if negative, enter -0-) 304,945
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2023)
Form 990-PF (2023)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 500 500 500
2 Savings and temporary cash investments......... 985,987 991,215 991,215
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow   360,000    
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 1,026,369 Click to see attachment
List of Attached Documents:
// Content
696,901 		699,432
b Investments—corporate stock (attach schedule)....... 4,138,231 Click to see attachment
List of Attached Documents:
// Content
3,890,932 		6,466,070
c Investments—corporate bonds (attach schedule)....... 1,200,266 Click to see attachment
List of Attached Documents:
// Content
1,600,266 		1,592,226
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 0 Click to see attachment
List of Attached Documents:
// Content
163,421 		188,765
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 7,711,353 7,343,235 9,938,208
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 7,711,353 7,343,235
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 0 0
29 Total net assets or fund balances (see instructions)..... 7,711,353 7,343,235
30 Total liabilities and net assets/fund balances (see instructions). 7,711,353 7,343,235
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
7,711,353
2
Enter amount from Part I, line 27a .....................
2
-368,118
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
7,343,235
5
Decreases not included in line 2 (itemize) right arrow
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
7,343,235
Form 990-PF (2023)
Form 990-PF (2023)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a Publicly Traded Securities      
b
c
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 2,322,079   2,230,906 91,173
b
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       91,173
b
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 91,173
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here right arrow and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions) 1 4,239
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 4,239
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 4,239
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 4,949
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 4,949
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 710
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow710 Refundedright arrow 11 0
Form 990-PF (2023)
Form 990-PF (2023)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. right arrow$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowME
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2023 or the taxable year beginning in 2023? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowN/A
14
The books are in care ofright arrowBangor Savings Bank Telephone no.right arrow (207) 942-5211

Located atright arrow24 Hamlin Way PO Box 930BangorME ZIP+4right arrow044020930
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2023, did the foundation have an interest in or a signature or other authority over YesNo
a bank, securities, or other financial account in a foreign country? .................
16   No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country right arrow
Form 990-PF (2023)
Form 990-PF (2023)
Page 5
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
Yes
 
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
Yes
 
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2023? .............
1d
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2023, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2023?....................
2a
 
No
If "Yes," list the years right arrow20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
right arrow20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2023 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
if the foundation had excess business holdings in 2023.) .....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2023? ..
4b
 
No
Form 990-PF (2023)
Form 990-PF (2023)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
 
No
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
 
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
 
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d).
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
Kathryn L Barber Director
0.10 		0 0 0
24 Hamlin Way PO Box 930
Bangor,ME044020930
George F Eaton II Esq Director
0.10 		0 0 0
24 Hamlin Way PO Box 930
Bangor,ME044020930
Sari S Greene Director
0.10 		0 0 0
24 Hamlin Way PO Box 930
Bangor,ME044020930
Susan C Hammond Director
0.10 		0 0 0
24 Hamlin Way PO Box 930
Bangor,ME044020930
Laurie G Lachance Director
0.10 		0 0 0
24 Hamlin Way PO Box 930
Bangor,ME044020930
Scott A Oxley Director
0.10 		0 0 0
24 Hamlin Way PO Box 930
Bangor,ME044020930
William D Purington Director (end FY 2024)
0.10 		0 0 0
24 Hamlin Way PO Box 930
Bangor,ME044020930
Joyce Clark Sarnacki Director
0.10 		0 0 0
24 Hamlin Way PO Box 930
Bangor,ME044020930
Robert S Montgomery-Rice President
0.20 		0 0 0
24 Hamlin Way PO Box 930
Bangor,ME044020930
Gena R Canning Chair
0.60 		0 0 0
24 Hamlin Way PO Box 930
Bangor,ME044020930
Vincent P Veroneau Vice Chair
0.10 		0 0 0
24 Hamlin Way PO Box 930
Bangor,ME044020930
Michael O'Connor Treasurer
0.60 		0 0 0
24 Hamlin Way PO Box 930
Bangor,ME044020930
Wendy Durrah VP/Secretary/Clerk
2.00 		0 0 0
24 Hamlin Way PO Box 930
Bangor,ME044020930
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000...................right arrow 0
Form 990-PF (2023)
Form 990-PF (2023)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
NONE
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow0
Form 990-PF (2023)
Form 990-PF (2023)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
8,269,027
b
Average of monthly cash balances.......................
1b
1,130,925
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
9,399,952
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
9,399,952
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
140,999
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
9,258,953
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
462,948
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
462,948
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
4,239
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
4,239
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
458,709
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
458,709
6
Deduction from distributable amount (see instructions).................
6
0
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
458,709
Part XI
Qualifying Distributions (see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
1a
1,248,063
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
1,248,063
Form 990-PF (2023)
Form 990-PF (2023)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2022 		(c)
2022 		(d)
2023
1 Distributable amount for 2023 from Part X, line 7 458,709
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only....... 0
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2022:
a From 2018...... 594,677
b From 2019...... 718,797
c From 2020...... 796,620
d From 2021...... 826,654
e From 2022...... 916,352
f Total of lines 3a through e ........ 3,853,100
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 1,248,063
a Applied to 2022, but not more than line 2a 0
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		0
c Treated as distributions out of corpus (Election
required—see instructions)........ 		0
d Applied to 2023 distributable amount..... 458,709
e Remaining amount distributed out of corpus 789,354
5 Excess distributions carryover applied to 2023. 0 0
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6Enter the net total of each column as
indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 4,642,454
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		0
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		0
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		0
e Undistributed income for 2022. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2023. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2024 .......... 		0
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 2018 not
applied on line 5 or line 7 (see instructions) ... 		594,677
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ...... 		4,047,777
10 Analysis of line 9:
a Excess from 2019.... 718,797
b Excess from 2020.... 796,620
c Excess from 2021.... 826,654
d Excess from 2022.... 916,352
e Excess from 2023.... 789,354
Form 990-PF (2023)
Form 990-PF (2023)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2023, enter the date of the ruling ...... right arrow
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2023 (b) 2022 (c) 2021 (d) 2020
         
b 85% (0.85) of line 2a .........          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, b, or c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow
aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
Program Officer The Bangor Savings
24 Hamlin Way PO Box 930
Bangor,ME044020930
(207) 942-5211
foundation@bangor.com
bThe form in which applications should be submitted and information and materials they should include:
Organizations recognized under IRS code section 501(c)(3) must provide a copy of their determination letter with their application or grant proposal. Applications can be submitted online at: https://www.bangor.com/community/foundation Potential applicants must submit a completed grant application, describe the initiative seeking support. Prior applicants may reapply one year from the date of prior submission. Decisions and funding are generally announced within 45-75 days of each application deadline.
cAny submission deadlines:
Applications for due by January 1, April 1, July 1, or October 1 to be valid for consideration.
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
The Foundation considers applications for grants ranging from $2,000 up to $25,000. The Foundation has a preference to support projects and initiatives that do the following: (i) Include a strategy for leveraging other resources; (ii) Produce cost-effective results which can be measured; (iii) Provide incentive for community problem solving; (iv) Encourage coordination with other efforts and do not duplicate programs; (v) Advance strategies that will address recognized needs; and (vi) Demonstrate an ability to obtain future funding. Grant awards are generally limited to the market area served by Bangor Savings Bank. Grant recipients must demonstrate 501(c)(3) status, and need for private financial support. The Foundation does not provide support for political purposes, and generally does not support annual endowments, scholarships, conferences, or budgets.
Form 990-PF (2023)
Form 990-PF (2023)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
 Foundation
status of
recipient 		Purpose of grant or
contribution 		Amount
Name and address (home or business)
aPaid during the year

3S Contemporary Art Space

319 Vaughan Street
Portsmouth,NH03801 		None PC General operating support 3,000

45th Parallel Emergency Medical Services

46 Ramsey Road
Colebrook,NH03576 		None PC General operating support 4,000

Acadia Hospital Corp

268 Stillwater Avenue
Bangor,ME04401 		None PC General operating support 40,000

Access Direct Recovery Network

PO Box 1764
Biddeford,ME04005 		None PC General operating support 5,000

Alzheimer's Disease and Related Disorders Association Inc

383 US Route One Suite 2C
Scarborough,ME04074 		None PC General operating support 7,500

Androscoggin Home Health Services Inc

15 Strawberry Avenue
Lewiston,ME04240 		None PC General operating support 8,000

Animal Refuge League of NH

545 Route 101
Bedford,NH03110 		None PC General operating support 2,500

Animal Welfare Society Inc

PO Box 43
West Kennebunk,ME04094 		None PC General operating support 5,500

ArtVan

37 Mill Street
Brunswick,ME04011 		None PC General operating support 5,000

Aspire Living and Learning Inc

2096 Airport Road
Barre,VT05641 		None PC General operating support 5,000

Bangor Area Recovery Network

142 Center Street
Brewer,ME04412 		None PC General operating support 4,000

Bangor Greendrinks Inc

15 Columbia Street Suite 201
Bangor,ME04401 		None PC General operating support 5,500

Bangor Humane Society

693 Mount Hope Avenue
Bangor,ME04401 		None PC General operating support 1,000

Bangor Region YMCA

17 Second Street
Bangor,ME04401 		None PC General operating support 50,000

Bar Harbor Historical Society

127 West Street
Bar Harbor,ME04609 		None PC General operating support 5,500

Black Heritage Trail of New Hampshire Inc

222 Court Street
Portsmouth,NH03801 		None PC General operating support 7,500

Blue Ocean Society for Maine Conservation

400 Little Harbor Road 1103
Portsmouth,NH03801 		None PC General operating support 6,500

Boots2Roots

428 Fore Street 3rd Floor
Portland,ME04101 		None PC General operating support 5,500

Boreal Theater

215 Penobscot Avenue
Millinocket,ME04462 		None PC General operating support 3,000

Breaking The Cycle

177 Central Street
Millinocket,ME04462 		None PC General operating support 4,000

Camp Capella

PO Box 552
Holden,ME04429 		None PC General operating support 7,500

Center for a Green Future

30 East Coxon Road
Brunswick,ME04011 		None PC General operating support 5,000

Central Lincoln County YMCA

PO Box 787
Damariscotta,ME04543 		None PC General operating support 3,000

Central Maine Healthcare

300 Main Street
Lewiston,ME04240 		None PC General operating support 2,000

Challenger Learning Center of Maine

30 Venture Way
Bangor,ME04401 		None PC General operating support 2,500

Children's Museum & Theatre of Maine

142 Free Street
Portland,ME04101 		None PC General operating support 5,000

Christine B Foundation

304 Hancock Street Suite 1A
Bangor,ME04401 		None PC General operating support 10,000

City of Bath

250 Water Street
Bath,ME04530 		None GOV General operating support 4,000

City of Ellsworth

20 State Street
Ellsworth,ME04605 		None GOV General operating support 2,000

Coast Guard Foundation

394 Taugwonk Road
Stonington,CT06378 		None PC General operating support 12,500

Coastal Kids Preschool

12 Jackies Trail
Damariscotta,ME04543 		None PC General operating support 5,000

Coastal Rivers Conservation Trust

PO Box 333
Damariscotta,ME04543 		None PC General operating support 5,500

Community Care

PO Box 936
Bangor,ME04401 		None PC General operating support 10,000

Community Dental

190 Park Avenue
Portland,ME04102 		None PC General operating support 5,500

Community Energy Fund of Lincoln County

PO Box 40
Bristol,ME04539 		None PC General operating support 5,000

Community Health Integrated Partnership Inc dba CHIP Inc

PO Box 6
Newcastle,ME04553 		None PC General operating support 5,500

Concord Community Music School

23 Wall Street
Concord,NH03301 		None PC General operating support 5,500

Conway Area Humane Society

PO Box 260
Conway,NH03818 		None PC General operating support 1,000

Court Appointed Special Advocates of NH Inc

PO Box 1327
Manchester,NH03105 		None PC General operating support 5,000

Dempsey Centers for Quality Cancer Care

PO Box 277
Auburn,ME04212 		None PC General operating support 11,500

Downeast Coastal Conservancy

PO Box 760
Machias,ME04654 		None PC General operating support 3,000

Eastern Area Agency on Aging

240 State Street
Brewer,ME04412 		None PC General operating support 6,500

End 68 Hours of Hunger

129 Miller Avenue
Somersworth,NH03878 		None PC General operating support 4,000

Fair Tide Inc

15 State Road
Kittery,ME03904 		None PC General operating support 10,000

Farms for Food Equity

21 Wells Road
Cape Elizabeth,ME04107 		None PC General operating support 5,000

Fellowship Housing Opportunities Inc

36 Pleasant Street
Concord,NH03301 		None PC General operating support 3,000

Finding Our Voices

PO Box 943
Camden,ME04843 		None PC General operating support 7,500

For The Love of Dog Rottweiler Rescue

119 Matthews Road
Swanszey,NH03446 		None PC General operating support 5,000

Foundation for Portland Public Schools

353 Cumberland Avenue
Portland,ME04101 		None PC General operating support 7,500

Friends of Community Fitness

31 High Street Suite A
Guilford,ME04443 		None PC General operating support 5,000

Friends of Katahdin Woods and Waters

PO Box 18177
Portland,ME04112 		None PC General operating support 50,000

Good Samaritan Agency

100 Ridgewood Drive
Bangor,ME04401 		None PC General operating support 3,000

Good Shepherd Food Bank

3121 Hotel Road
Auburn,ME04210 		None PC General operating support 25,000

Granite United Way

22 Concord Street Floor 2
Manchester,NH03101 		None PC General operating support 2,000

Great Bay Rugby Club Inc

218 Rockland Street
Portsmouth,NH03801 		None PC General operating support 3,000

Greater Androscoggin Humane Society

55 Strawberry Avenue
Lewiston,ME04240 		None PC General operating support 1,000

Greater Portland Immigrant Welcome Center

24 Preble Street
Portland,ME04101 		None PC General operating support 5,500

Hancock County Auditorium Associates

165 Main Street
Ellsworth,ME04605 		None PC General operating support 3,000

Harbor Homes Inc

77 Northeastern Boulevard
Nashua,NH03062 		None PC General operating support 5,500

Haven - Violence Prevention & Support Services

20 International Drive Suite 300
Portsmouth,NH03801 		None PC General operating support 5,000

Healthy Acadia - Machias

121 Court Street
Machias,ME04654 		None PC General operating support 4,000

Heart of Biddeford

205 Main Street 103
Biddeford,ME04005 		None PC General operating support 3,000

Heart of Maine Resource Center

PO Box 211
Dexter,ME04930 		None PC General operating support 7,500

Heart of Maine United Way

700 Main Street 1
Bangor,ME04401 		None PC General operating support 42,450

Highlands Search and Rescue

283 McCard Road
Corinth,ME04427 		None PC General operating support 5,000

Husson University

One College Circle
Bangor,ME04401 		None PC General operating support 100,000

In Her Presence

179 Mechanic Street
Westbrook,ME04092 		None PC General operating support 7,500

Inland Woods Trails

PO Box 572
Bethel,ME04217 		None PC General operating support 3,000

Inn Along The Way

741 Main Street
Damariscotta,ME04543 		None PC General operating support 4,000

Island Institute

386 Main Street
Rockland,ME04841 		None PC General operating support 10,000

Jackson Food Pantry

538 Village Road
Jackson,ME04921 		None PC General operating support 1,000

Junior Achievement of Maine

565 Congress Street Suite 306
Portland,ME04101 		None PC General operating support 10,000

Kennebec Valley Community Action Program

101 Water Street
Waterville,ME04901 		None PC General operating support 7,500

Lamoine Community Arts

30 Berry Cove Road
Lamoine,ME04605 		None PC General operating support 5,000

Larry Labonte Recovery Center

412 Waldo Street
Rumford,ME04276 		None PC General operating support 5,000

LCYC Community Sailing & Education Foundation

79 Sand Beach Road
Islesford,ME04646 		None PC General operating support 5,000

League of New Hampshire Craftsmen

40 South Main Street Suite 100
Concord,NH03301 		None PC General operating support 1,000

LifeFlight Foundation

PO Box 899
Camden,ME04843 		None PC General operating support 50,000

Lincoln County Television

29 Sheepscot Road
Newcastle,ME04553 		None PC General operating support 10,000

Maine Boys To Men

170 US Route 1 230
Falmouth,ME04105 		None PC General operating support 5,000

Maine Coalition Against Sexual Assault

45 Memorial Circle
Augusta,ME04330 		None PC General operating support 3,000

Maine Federation of Farmers Markets

88 Carding Machine Road
Bowdoinham,ME04008 		None PC General operating support 5,000

Maine Fisherman's Forum

PO Box 1198
Rockport,ME04856 		None PC General operating support 5,000

Maine General Health

PO Box 828
Waterville,ME04903 		None PC General operating support 25,000

Maine Immigrant & Refugee Services

256 Bartlett Sheet
Lewiston,ME04240 		None PC General operating support 4,000

Maine Immigrants Rights Coalition

411 Congress Street
Portland,ME04101 		None PC General operating support 10,000

Maine Museum of Inn Learning and Labor

35 Canal Street Box A7
Lewiston,ME04240 		None PC General operating support 5,500

Maine Needs

332 Forest Avenue
Portland,ME04101 		None PC General operating support 5,500

Maine Public Broadcasting Corporation

1450 Lisbon Street
Lewiston,ME04240 		None PC General operating support 50,000

Maine Special Olympics

525 Main Street Unit D
South Portland,ME04106 		None PC General operating support 3,000

Maine State Society for the Protection of Animals

PO Box 10
South Windham,ME04082 		None PC General operating support 1,000

MaineHealth

22 Bramhall Street
Portland,ME04102 		None PC General operating support 50,000

MaineShare

PO Box 2095
Augusta,ME04338 		None PC General operating support 2,000

Midcoast Humane

5 Industrial Parkway
Brunswick,ME04011 		None PC General operating support 5,000

Misfits Rehab Animal Rescue

850 Garfield Road
Auburn,ME04210 		None PC General operating support 5,000

Moosehead Marine Museum

PO Box 1151
Greenville,ME04441 		None PC General operating support 1,000

Morningstar Home Heating Relief Fund

47 Park Drive
Topsham,ME04086 		None PC General operating support 5,000

Nashua Police Athletic League

52 Ash Street
Nashua,NH03060 		None PC General operating support 2,500

National Digital Equity Center

297 Bath Road
Wiscasset,ME04578 		None PC General operating support 2,000

New Hampshire Children's Trust Inc

10 Ferry Street 307
Concord,NH03301 		None PC General operating support 5,000

Northern Human Services

55 Colby Street
Colebrook,NH03576 		None PC General operating support 5,000

Ogunquit Playhouse Foundation

10 Main Street
Ogunquit,ME03907 		None PC General operating support 4,000

Opportunity Housing Inc (OHI)

203 Maine Avenue
Bangor,ME04401 		None PC General operating support 12,500

Our Place Inc

PO Box 65
Dover,NH03821 		None PC General operating support 1,000

Overcomers Refugee Services

90 Airport Road
Concord,NH03301 		None PC General operating support 4,000

Partners for Peace

PO Box 653
Bangor,ME04402 		None PC General operating support 10,000

Penobscot Language School

28 Gay Street
Rockland,ME04841 		None PC General operating support 5,000

Penobscot Valley Ski Club

PO Box 873
Bangor,ME04402 		None PC General operating support 5,500

Penquis CAP Inc

262 Harlow Street
Bangor,ME04401 		None PC General operating support 5,000

Piscataquis Regional Food Center

76 North Street
DoverFoxcroft,ME04426 		None PC General operating support 10,000

Pittie Posse Rescue Sanctuary

11 Atkinson Lane
Saco,ME04072 		None PC General operating support 5,000

Raye's Mustard Mill Museum

PO Box 2
Eastport,ME04631 		None PC General operating support 12,500

River City Athletics

129 Farm Road
Bangor,ME04401 		None PC General operating support 12,500

Seacoast Community Chamber Orchestra

PO Box 8391
Portsmouth,NH03802 		None PC General operating support 5,000

Seacoast Mental Health Center

1145 Sagamore Avenue
Portsmouth,NH03801 		None PC General operating support 3,500

Small Woodland Owners Assoc of Maine Inc

8 Milliken Court
Augusta,ME04332 		None PC General operating support 5,000

Somerset Humane Society

123 Middle Road
Skowhegan,ME04976 		None PC General operating support 1,000

Southern Maine Agency on Aging

136 US Route 1
Scarborough,ME04074 		None PC General operating support 5,000

Special Surfers

PO Box 752
Saco,ME04072 		None PC General operating support 1,000

Spirits Place

74 Nokomis Road
St Albans,ME04971 		None PC General operating support 5,000

Stanwood Wildlife Sanctuary

PO Box 485
Ellsworth,ME04605 		None PC General operating support 5,000

Stepping Stones

3 Pine Street Extension Unit L
Nashua,NH03060 		None PC General operating support 7,500

The Ark Animal Shelter

60 Barber Lane
Cherryfield,ME04622 		None PC General operating support 1,000

The Carpenter's Boat Shop

440 Old County Road
Bristol,ME04558 		None PC General operating support 5,000

The Center for Entrepreneurial Studies

156 Main Street
Farmington,ME04938 		None PC General operating support 7,500

The Derryfield School

2108 River Road
Manchester,NH03104 		None PC General operating support 2,000

The Drop-In Center

9 N River Road Suite 548
Auburn,ME04210 		None PC General operating support 5,000

The Foundation for Maine Community Colleges

54 Lighthouse Circle
South Portland,ME04106 		None PC General operating support 50,000

The Friends of the New Hampshire Drug Courts

100 North Main Street 4th Floor
Concord,NH03301 		None PC General operating support 5,000

The Iris Network

189 Park Avenue
Portland,ME04102 		None PC General operating support 5,000

The New School

38 York Street
Kennebunk,ME04043 		None PC General operating support 5,000

The Northern Lighthouse Inc

PO Box 498
Mars Hill,ME04758 		None PC General operating support 5,000

The Town of Bucksport

832 State Route 46
Bucksport,ME04416 		None GOV General operating support 2,000

The Waterville Area Soup Kitchen

61 Pleasant Street 1
Waterville,ME04901 		None PC General operating support 4,000

Thompson Free Library

186 E Main Street
DoverFoxcroft,ME04426 		None GOV General operating support 5,500

Town of Brooks

PO Box 5
Brooks,ME04921 		None GOV General operating support 4,463

Town of Princeton

PO Box 408
Princeton,ME04668 		None GOV General operating support 5,500

Trinity Jubilee Center

247 Bates Street
Lewiston,ME04240 		None PC General operating support 12,500

Turner Public Library

98 Matthews Way
Turner,ME04282 		None PC General operating support 4,000

Two Rivers Ride for Cancer Inc

53 Spring Street
Colebrook,NH03576 		None PC General operating support 3,000

United Midcoast Charities

87 Elm Street Suite 205
Camden,ME04843 		None PC General operating support 1,800

United Way of Androscoggin County

PO Box 888
Lewiston,ME04243 		None PC General operating support 2,700

United Way of Aroostook County

830 Main Street Unit 4
Presque Isle,ME04769 		None PC General operating support 1,000

United Way of Greater Nashua

20 Broad Street 1
Nashua,NH03064 		None PC General operating support 1,000

United Way of Kennebec Valley

121 Commercial Street
Augusta,ME04330 		None PC General operating support 5,850

United Way of Mid Coast Maine

34 Wing Farm Parkway 201
Bath,ME04530 		None PC General operating support 2,000

United Way of Southern Maine

550 Forest Avenue Suite 100
Portland,ME04101 		None PC General operating support 17,800

United Way of Tri-Valley

PO Box 126
Farmington,ME04938 		None PC General operating support 1,900

Veggies to Table

4 Mills Road 47
Newcastle,ME04553 		None PC General operating support 6,000

Waldo County Woodshed

171 High Street
Belfast,ME04915 		None PC General operating support 5,000

Winthrop Hot Meal Kitchen

PO Box 472
Winthrop,ME04364 		None PC General operating support 3,850

Young People in Recovery

201 E 4th Street
Loveland,CO80537 		None PC General operating support 5,500
Total .................................right arrow 3a 1,246,813
bApproved for future payment
Total ................................. right arrow 3b 0
Form 990-PF (2023)
Form 990-PF (2023)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		    14 101,454  
4 Dividends and interest from securities ....     14 153,612  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 91,173  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aClass action settlement 		    01 466  
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 346,705 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
346,705
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2023)
Form 990-PF (2023)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

(a) Name of organization (b) Type of organization (c) Description of relationship
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 Firm's EIN SmallBullet
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 Phone no.
Form 990-PF (2023)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description
Schedule B
(Form 990)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors

Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2023
Name of the organization
Bangor Savings Bank Foundation
 
Employer identification number

04-3353896
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ






Form 990-PF




Check if your organization is covered by the General Rule or a Special Rule.  
Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule
Special Rules
......... Arrow Bullet $  
Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990) (2023)
Schedule B (Form 990) (2023) Page 2
Name of organization
Bangor Savings Bank Foundation
  		Employer identification number
04-3353896
Part I
Contributors
Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
1
Bangor Savings Bank
 
24 Hamlin Way
 
Bangor, ME044020930

$ 575,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (2023)
Schedule B (Form 990) (2023)
Page 3
Name of organization
Bangor Savings Bank Foundation
  		Employer identification number

04-3353896
Part II
Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
Schedule B (Form 990) (2023)
Schedule B (Form 990) (2023)
Page 4
Name of organization
Bangor Savings Bank Foundation
  		Employer identification number

04-3353896
Part III
Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
Use duplicate copies of Part III if additional space is needed.
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
Schedule B (Form 990) (2023)
Additional Data


Software ID:  
Software Version:  

TY 2023 AccountingFeesSchedule
Name:
Bangor Savings Bank Foundation
EIN:
04-3353896
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Accounting fees 2,500 1,250   1,250

TY 2023 InvestmentsCorpBondsSchedule
Name:
Bangor Savings Bank Foundation
EIN:
04-3353896
Name of Bond End of Year Book Value End of Year Fair Market Value
200000 units Federal Farm Credit Corp 2.8% 199,638 199,876
400000 units Federal Farm Credit Corp 5.36% 400,000 401,632
200000 units Federal Home Loan Bank 2.81% 198,728 194,630
200000 units Bank of Montreal 5.4% 200,000 199,148
400000 units Federal Home Loan Mortgage Corp 5.15% 401,900 399,572
200000 units Royal Bank of Canada 5.65% 200,000 197,368

TY 2023 InvestmentsCorpStockSchedule
Name:
Bangor Savings Bank Foundation
EIN:
04-3353896
Name of Stock End of Year Book Value End of Year Fair Market Value
674 units AMZN 68,243 121,576
282 units LOW 32,487 71,834
378 units STZ 80,471 102,725
558 units PEP 63,771 97,656
1894 units WMT 76,799 113,962
936 units ENB 22,614 33,864
427 units CVX 36,684 67,355
439 units PSX 24,056 71,706
670 units GNRC 72,209 84,514
942 units COHR 38,382 57,104
315 units SNOW 36,057 50,904
713 units TW 38,181 74,273
145 units BRK/B 28,606 60,975
446 units ICE 15,105 61,294
733 units BMY 35,990 39,751
460 units JNJ 63,644 72,767
746 units JPM 59,328 149,424
135 unit TSCO 31,378 35,332
268 units ILMN 25,593 36,802
172 units ICLR 12,765 57,783
215 units VRTX 45,264 89,872
824 units RTX 63,531 80,365
145 units ELV 30,680 75,188
229 units FDX 39,886 66,350
500 units MSFT 147,368 210,360
167 units ADBE 66,721 84,268
277 units V 29,983 77,305
307 units CRM 52,299 92,462
1019 units AAPL 81,310 174,738
545 units AMAT 22,610 112,395
605 units NVO 40,068 77,682
744 units ALB 82,295 98,015
945 units GOOGL 66,603 142,629
255 units FCN 41,737 53,624
1415 units VZ 53,292 59,373
77 units META 37,276 37,390
661 units AWK 80,007 80,781
184 units XLY 33,644 33,836
6678 units IJR 323,386 738,053
13360 units IJH 199,962 811,486
4528 units VWO 170,905 189,135
13448 units IEFA 790,447 998,111
689 units DIS 62,660 84,306
3095 units PATH 55,803 70,164
68 units SNPS 37,794 38,862
209 units SYK 18,284 74,795
276 units XLB 23,863 25,638
270 units GD 67,763 76,272
1054 units FTNT 73,661 71,999
446 units ED 43,727 40,501
1388 units C 78,811 87,777
637 units APTV 66,929 50,737

TY 2023 InvestmentsGovtObligationsSch
Name:
Bangor Savings Bank Foundation
EIN:
04-3353896
US Government Securities - End of Year Book Value:

696,901
US Government Securities - End of Year Fair Market Value:

699,432
State & Local Government Securities - End of Year Book Value:


0
State & Local Government Securities - End of Year Fair Market Value:


0


TY 2023 InvestmentsOtherSchedule2
Name:
Bangor Savings Bank Foundation
EIN:
04-3353896
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
2830 units GLDM FMV 111,159 124,662
221 units PSA FMV 52,262 64,103

TY 2023 OtherIncomeSchedule2
Name:
Bangor Savings Bank Foundation
EIN:
04-3353896
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
Class action settlement 466 466 466


TY 2023 OtherProfessionalFeesSchedule
Name:
Bangor Savings Bank Foundation
EIN:
04-3353896
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Investment advisory fees 40,510 40,510   0