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
2024
Open to Public Inspection
For calendar year 2024, or tax year beginning 01-01-2024 , and ending 12-31-2024
Name of foundation
Kennebec Savings Bank Foundation
 
Number and street (or P.O. box number if mail is not delivered to street address)150 State Street PO Box 50
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Augusta, ME04332
A Employer identification number

22-2624600
B Telephone number (see instructions)

(207) 622-5801
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$16,849,007J 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) 680,320
2 Check right arrow.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 257,419 257,419  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 2,146,669
b Gross sales price for all assets on line 6a 4,396,334
7 Capital gain net income (from Part IV, line 2)... 2,146,669
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
165,000 0  
12 Total. Add lines 1 through 11........ 3,249,408 2,404,088  
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
9,750 4,875   4,875
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
60,957 60,957   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
9,620 0   0
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.......... 80,327 65,832   4,875
25 Contributions, gifts, grants paid....... 824,202 824,202
26 Total expenses and disbursements. Add lines 24 and 25 904,529 65,832   829,077
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 2,344,879
b Net investment income (if negative, enter -0-) 2,338,256
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2024)
Form 990-PF (2024)
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............. 90 90 90
2 Savings and temporary cash investments......... 429,973 728,029 728,029
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
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) 1,627,926 Click to see attachment
List of Attached Documents:
// Content
1,989,416 		1,989,416
b Investments—corporate stock (attach schedule)....... 10,997,228 Click to see attachment
List of Attached Documents:
// Content
11,934,896 		11,934,896
c Investments—corporate bonds (attach schedule)....... 1,477,732 Click to see attachment
List of Attached Documents:
// Content
2,196,576 		2,196,576
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)..........      
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) 14,532,949 16,849,007 16,849,007
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........ 2,027,588 2,027,588
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 12,505,361 14,821,419
29 Total net assets or fund balances (see instructions)..... 14,532,949 16,849,007
30 Total liabilities and net assets/fund balances (see instructions). 14,532,949 16,849,007
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
14,532,949
2
Enter amount from Part I, line 27a .....................
2
2,344,879
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
16,877,828
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
28,821
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
16,849,007
Form 990-PF (2024)
Form 990-PF (2024)
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 Capital Gains Dividends P    
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 4,223,492   2,249,665 1,973,827
b 172,842     172,842
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       1,973,827
b       172,842
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 2,146,669
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 32,502
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 32,502
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 32,502
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 8,600
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 8,600
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
List of Attached Documents:
// Content
8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9 23,902
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10  
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow   Refundedright arrow 11  
Form 990-PF (2024)
Form 990-PF (2024)
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 2024 or the taxable year beginning in 2024? 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 arrowKennebec Savings Bank Telephone no.right arrow (207) 622-5801

Located atright arrow150 State Street PO Box 50AugustaME ZIP+4right arrow04332
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 2024, 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 (2024)
Form 990-PF (2024)
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)
 
No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
 
No
(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
 
 
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 2024? .............
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 2024, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2024?....................
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 2024 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 2024.) .....................
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 2024? ..
4b
 
No
Form 990-PF (2024)
Form 990-PF (2024)
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
Andrew E Silsby President/Clerk
1.00 		0 0 0
150 State Street PO Box 50
Augusta,ME04332
Debra A Getchell Treasurer
1.00 		0 0 0
150 State Street PO Box 50
Augusta,ME04332
Craig J Garofalo Vice President
1.00 		0 0 0
150 State Street PO Box 50
Augusta,ME04332
Amy P Tardiff Director
1.00 		0 0 0
150 State Street PO Box 50
Augusta,ME04332
Charles W Hays Jr Director
1.00 		0 0 0
150 State Street PO Box 50
Augusta,ME04332
Mark L Johnston Director
1.00 		0 0 0
150 State Street PO Box 50
Augusta,ME04332
William W Sprague Jr Director
1.00 		0 0 0
150 State Street PO Box 50
Augusta,ME04332
Norman S Elvin Director
1.00 		0 0 0
150 State Street PO Box 50
Augusta,ME04332
Diane F Hastings Director
1.00 		0 0 0
150 State Street PO Box 50
Augusta,ME04332
Mary A Dennison Director
1.00 		0 0 0
150 State Street PO Box 50
Augusta,ME04332
Christopher L Gaunce Director
1.00 		0 0 0
150 State Street PO Box 50
Augusta,ME04332
Alison A Lorenz Director
1.00 		0 0 0
150 State Street PO Box 50
Augusta,ME04332
Douglas E Reinhardt Past Director
1.00 		0 0 0
150 State Street PO Box 50
Augusta,ME04332
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 (2024)
Form 990-PF (2024)
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
KSB Investment Management & Trust Services Investment Management Services 60,957
150 State Street
Augusta,ME04332
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 (2024)
Form 990-PF (2024)
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
14,948,333
b
Average of monthly cash balances.......................
1b
627,448
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
15,575,781
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
15,575,781
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
233,637
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
15,342,144
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
767,107
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
767,107
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
32,502
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
32,502
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
734,605
4
Recoveries of amounts treated as qualifying distributions................
4
165,000
5
Add lines 3 and 4............................
5
899,605
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
899,605
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
829,077
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
829,077
Form 990-PF (2024)
Form 990-PF (2024)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2023 		(c)
2023 		(d)
2024
1 Distributable amount for 2024 from Part X, line 7 899,605
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only....... 0
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2024:
a From 2019...... 21,609
b From 2020...... 23,037
c From 2021...... 53,406
d From 2022...... 12,121
e From 2023...... 20,008
f Total of lines 3a through e ........ 130,181
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 829,077
a Applied to 2023, 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 2024 distributable amount..... 829,077
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2024. 70,528 70,528
(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 59,653
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 2023. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2024. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2025 .......... 		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 2019 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		59,653
10 Analysis of line 9:
a Excess from 2020....  
b Excess from 2021.... 27,524
c Excess from 2022.... 12,121
d Excess from 2023.... 20,008
e Excess from 2024....  
Form 990-PF (2024)
Form 990-PF (2024)
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 2024, 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) 2024 (b) 2023 (c) 2022 (d) 2021
         
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 if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions
aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
Kennebec Savings Bank Foundation
150 State Street PO Box 50
Augusta,ME04332
(207) 622-5801
bThe form in which applications should be submitted and information and materials they should include:
The Foundation accepts applications and may make some donations without a formal request. Applications must include the organization's name, address, purpose of the request, amount requested, and other relevant details. For the Catalyst Grant program, a formal application is required.
cAny submission deadlines:
Applications are accepted on a rolling basis. For the Catalyst Grant program, June 1 to August 31.
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Applicants must be tax-exempt under Section 501(c)(3) of the Internal Revenue Code. Awards are generally granted to organizations providing services within the market area of Kennebec Savings Bank. The Foundation does not provide support for political purposes.
Form 990-PF (2024)
Form 990-PF (2024)
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

MaineGeneral Health

PO Box 828
Waterville,ME04903 		N/A PC Harold Alfond Center for Cancer Care Campaign 100,000

MaineGeneral Health

PO Box 828
Waterville,ME04903 		N/A PC Harold Alfond Center for Cancer Care Campaign 70,000

United Way of Kennebec Valley

121 Commercial Street
Augusta,ME04330 		N/A PC Annual Corporate Contribution 51,152

Portland Little League

PO Box 10586
Portland,ME04104 		N/A PC Pedro Field Improvements Matching Grant 50,000

Alfond Youth & Community Center

126 North Street
Waterville,ME04901 		N/A PC Camp Tracy Campaign 35,000

Kennebec Valley Humane Society

168 Leighton Road
Augusta,VA04330 		N/A PC Capital Campaign Donation 25,000

Waterville Historical Society

62 Silver Street
Waterville,ME04901 		N/A PC Center for Local History and Culture 25,000

Tedford Housing

PO Box 958
Brunswick,ME04011 		N/A PC Capital Campaign 25,000

CYC Lake Association

PO Box 17
Manchester,ME04351 		N/A PC Challenge Grant Pledge Payment 20,000

Capital Area Recreation Association

PO Box 5275
Augusta,ME04332 		N/A PC Groomer Campaign 20,000

Alfond Youth Center

126 North Street
Waterville,ME04901 		N/A PC Unrestricted Support 20,000

Augusta Downtown Alliance

PO Box 2066
Augusta,ME04338 		N/A PC Martha Ballard Committee 15,000

National Digital Equity Center

297 Bath Road
Wiscasset,ME04578 		N/A PC Kennebec County Project Support 15,000

Alfond Youth & Community Center

126 North Street
Waterville,ME04901 		N/A PC Catalyst Grant - First Installment 15,000

Alfond Youth Center

126 North Street
Waterville,ME04901 		N/A PC Camp Tracy Capital Campaign 15,000

Foundation for Portland Public Schools

353 Cumberland Ave
Portland,ME04101 		N/A PC Catalyst Grant - First Installment 15,000

Maine Arts Academy

310 Cony Road
Augusta,ME04330 		N/A PC Catalyst Grant - First Installment 15,000

PALS

188 Case Road
Winthrop,ME04364 		N/A PC Facility Improvements Campaign 10,000

Friends of the Cobbossee Watershed

PO Box 206
East Winthrop,ME04343 		N/A PC Truck Campaign 10,000

Augusta Food Bank

161 Mount Vernon Ave
Augusta,ME04330 		N/A PC Unrestricted Support 10,000

Waterville Area Soup Kitchen

PO Box 1494
Waterville,ME04903 		N/A PC Catalyst Grant - Second Installment 10,000

Capital Area Recreation Association

PO Box 5275
Augusta,ME04332 		N/A PC Unrestricted Support 10,000

Family Veterans Camp

109 Sahagian Road
Belgrade,ME04917 		N/A PC Infrustructure Campaign 10,000

Kennebec Valley Community College Foundation

92 Western Ave
Fairfield,ME04937 		N/A PC Event & Campaign Support 10,000

Mitchell Institute

75 Washington Ave Suite 2E
Portland,ME04101 		N/A PF Catalyst Grant - Second Installment 10,000

Boys and Girls Club Augusta Teen Center

244 Water Street
Augusta,ME04330 		N/A PC Catalyst Grant - Second Installment 10,000

United Way of Kennebec Valley

121 Commercial Street
Augusta,ME04330 		N/A PC Homelessness Task Force 8,000

KETCHA Outdoors

336 Black Point Road
Scarborough,ME04074 		N/A PC Gear Hub Campaign 7,500

Maine Children's Home

93 Silver Street
Waterville,ME04901 		N/A PC Program Support 7,500

Kennebec Valley YMCA

31 Union Street
Augusta,ME04330 		N/A PC Strong Kids Campaign 7,000

MaineGeneral Health

PO Box 828
Waterville,ME04903 		N/A PC Giving Tuesday and Unrestricted Support 6,000

Island Institute

PO box 648
Rockland,ME04841 		N/A PC Lift All Boats Program 5,300

Snow Pond Center for the Arts

8 Goldenrod Lane
Sidney,ME04330 		N/A PC Catalyst Grant - Third Installment 5,000

Snow Pond Center for the Arts

8 Goldenrod Lane
Sidney,ME04330 		N/A PC Community Music Program 5,000

Worromontogus Lake Association

PO Box 2582
Augusta,ME04338 		N/A PC Mitigation Project Phase 2 5,000

Augusta Downtown Alliance

PO Box 2066
Augusta,ME04338 		N/A PC Unrestricted Support 5,000

Friends of Belgrade Lakes Village

PO Box 331
Belgrade Lakes,ME04918 		N/A PC Park Your Vision Campaign 5,000

Maine Center for Public Interest Reporting

PO Box 287
Hallowell,ME04347 		N/A PC Unrestricted Support 5,000

Vienna Union Hall Association

PO Box 1
Vienna,VA04360 		N/A PC Restoration Project 5,000

Freeport Community Services

PO Box 119
Freeport,ME04032 		N/A PC Annual Sponsorship 5,000

Hallowell Foodbank

PO Box 214
Hallowell,ME04347 		N/A PC Unrestricted Support 5,000

Preble Street

55 Portland Street
Portland,ME04101 		N/A PC Unrestricted Support 5,000

Maine GearShare

PO Box 8738
Portland,ME04104 		N/A PC Catalyst Grant - 3 of 3 Disbursements 5,000

EDUCARE Central Maine

56 Drummond Ave
Waterville,ME04901 		N/A PC Nutrition Program 5,000

Educare Central Maine

56 Drummond Ave
Waterville,ME04901 		N/A PC Unrestricted Support 5,000

Bridging the Gap

209 Eastern Ave
Augusta,ME04330 		N/A PC Unrestricted Support 4,000

Kennebec Land Trust

PO Box 261
Winthrop,ME04364 		N/A PC Unrestricted Support 3,500

Hubbard Free Library

115 Second Street
Hallowell,ME04347 		N/A PC Temperature Control Project 3,500

Friends of the Cobbossee Watershed

PO Box 206
East Winthrop,ME04343 		N/A PC Tadpole Patrol Support 3,000

Royal River Conservation Trust

325 Main Street
Yarmouth,ME04096 		N/A PC Unrestricted Support 3,000

Family Violence Project

PO Box 304
Augusta,ME043320304 		N/A PC Unrestricted Support 3,000

Augusta Symphony Orchestra

PO Box 5694
Augusta,ME043325694 		N/A PC Unrestricted Support 2,500

30 Mile River Watershed

PO Box 132
Mt Vernon,ME04352 		N/A PC Unrestricted Support 2,500

Maine Farmland Trust

97 Main Street
Belfast,ME04915 		N/A PC Business Planning Program Support 2,500

Kennebec Historical Society

PO Box 5582
Augusta,ME043325582 		N/A PC Unrestricted Support 2,500

Bread of Life Ministries

159 Water Street
Augusta,ME04330 		N/A PC Annual Campaign 2,500

Greater Augusta Back to School Program co Michael Michaud

27 Bunny Street
Augusta,ME04330 		N/A PC Supply Giveaway event 2,500

Locker Project

PO Box 3134
Portland,ME04104 		N/A PC Unrestricted Support 2,500

Neighbors Driving Neighbors

PO Box 142
Mount Vernon,ME04352 		N/A PC Unrestricted Support 2,500

Foundation for Portland Public Schools

353 Cumberland Ave
Portland,ME04101 		N/A PC Math Tutor Program 2,500

Kennebec Valley Community College Foundation

93 Western Ave
Fairfield,ME04937 		N/A PC Event & Campaign Support 2,500

Waterville High School

1 Brooklyn Ave
Waterville,ME04901 		N/A PC Strings Program Scholarship/Instrument 2,500

Humane Society Waterville Area

100 Webb Rd
Waterville,ME04901 		N/A PC Unrestricted Donation 2,000

Kennebec Performing Arts Company

PO Box 481
Augusta,ME04330 		N/A PC Unrestricted Support 2,000

Portland Conservatory of Music

28 Neal Street
Portland,ME04102 		N/A PC Unrestricted Support 2,000

Gardiner Main Street

PO Box 194
Gardiner,ME04345 		N/A PC Unrestricted Support 2,000

Maine Jumpstart

PO Box 5024
Augusta,ME04332 		N/A PC National Conference Scholarship Support 2,000

Vaughan Woods Historic Homestead

2 Litchfield Rd
Hallowell,ME04347 		N/A PC Unrestricted Support 2,000

Chrysalis Place Gardiner Area Food Center

PO Box 542
Gardiner,ME04345 		N/A PC Unrestricted Support 2,000

Good Shepherd Food Bank

PO Box 1807
Auburn,ME04211 		N/A PC Unrestricted Support 2,000

CODA Chorus

PO Box 146
Winthrop,ME04364 		N/A PC Concert Support 1,750

Monmouth Community Players

796 Main Street
Monmouth,ME04259 		N/A PC ASL Program 1,500

Freeport Conservation Trust

PO Box 433
Freeport,ME04032 		N/A PC Unrestricted Support 1,500

Winthrop Historical Society

107 Main Street
Winthrop,ME04364 		N/A PC Unrestricted Support 1,500

KVCAP

101 Water Street
Waterville,ME04901 		N/A PC Diaper Drive 1,500

Mid-Maine Homeless Shelter

19 Colby Street
Waterville,ME04901 		N/A PC Event Support 1,500

Friends of the Kennebec River Rail Trail

PO Box 2195
Augusta,ME04338 		N/A PC Unrestricted Support 1,500

Kennebec Youth Lacrosse

6 Middle Street
Augusta,ME04330 		N/A PC Season Support & Equipment Upgrades 1,500

Freeport Arts & Cultural Alliance co Freeport Werkes

50 Dept Street
Freeport,ME04032 		N/A PC Unrestricted Support 1,000

Kennebec Valley Youth Symphony Orchestra

PO Box 604
Manchester,ME04364 		N/A PC Season Sponsorship 1,000

Maine Appalachian Trail Club

PO Box 7564
Portland,ME04112 		N/A PC Unrestricted Support 1,000

Operation Game Thief

Attn Greg Sirpis 1 Westside Sebago
Standish,ME04084 		N/A PC Auction Match Donation 1,000

Viles Arboretum

153 Hospital Street
Augusta,ME04330 		N/A PC Unrestricted Support 1,000

Genesis Fund

22 Lincoln Street
Brunswick,ME04011 		N/A PC Unrestricted Support 1,000

Maine TREE Foundation

535 Civic Center Drive
Augusta,ME04330 		N/A PC Educator Training Support 1,000

New Ventures Maine

46 University Drive
Augusta,ME04330 		N/A PC Marketing Mini-Grant program 1,000

Winthrop Area Rotary Club

PO Box 145
Winthrop,ME04364 		N/A PC Window Replacement Project 1,000

Freeport Historical Society

45 Main Street
Freeport,ME04032 		N/A PC Unrestricted Support 1,000

Shutterbugs 4 Charity

50 Industrial Park Road
Saco,ME04072 		N/A PC Unrestricted Donation 1,000

Central Maine Christmas Family Dinner

PO Box 2712
Waterville,ME049012712 		N/A PC Dinner Donation 1,000

Emergency Action Network

46 Federal Street
Brunswick,ME04011 		N/A PC Unrestricted Support 1,000

Independence Association

3 Industrial Parkway Suite 1
Brunswick,ME04011 		N/A PC Spindleworks Program Support 1,000

Literacy Volunteers of Kennebec

12 Spruce Street
Augusta,ME04330 		N/A PC Unrestricted Support 1,000

The Maine Long-Term Care Ombudsman Program

61 Winthrop Street
Augusta,ME04330 		N/A PC Unrestricted Support 1,000

Women Veteran's Glamping

126 Western Ave 197
Augusta,ME04330 		N/A PC Land Power Support 1,000

Alfond Youth Center

126 North Street
Waterville,ME04901 		N/A PC Polar Bear Dip Event Support 1,000

Alfond Youth Center

126 North Street
Waterville,ME04901 		N/A PC Event Support 1,000

Maine Boys to Men

PO Box 8325
Portland,ME04104 		N/A PC Unrestricted Donation 1,000

The Telling Room

225 Commercial St Suite 201
Portland,ME04101 		N/A PC Unrestricted Support 1,000
Total .................................right arrow 3a 824,202
bApproved for future payment

Alfond Youth & Community Center
126 North Street
Waterville,ME04901 		N/A PC Catalyst Grant - Behavioral Health Program 30,000

Foundation for Portland Public Schools
353 Cumberland Ave
Portland,ME04101 		N/A PC Catalyst Grant - Mobile Vision & Personal Care Product Programs 30,000

Maine Arts Academy
310 Cony Rd
Augusta,ME04330 		N/A PC Catalyst Grant - Theater Renovations 30,000

Waterville Area Soup Kitchen
PO Box 1494
Waterville,ME04903 		N/A PC Catalyst Grant - Kitchen Renovation Project 30,000

Boys and Girls Club Augusta Teen Center
244 Water Street
Augusta,ME04330 		N/A PC Catalyst Grant - Community Makers Space Program 30,000

Mitchell Institute
75 Washington Ave Suite 2E
Portland,ME04101 		N/A PC Catalyst Grant - Student Support Fund 30,000

CYC Lake Association
PO Box 17
Manchester,ME04351 		N/A PC Challenge Grant - Lake Mitigation Project 120,000
Total ................................. right arrow 3b 300,000
Form 990-PF (2024)
Form 990-PF (2024)
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 ........... 		         
4 Dividends and interest from securities ....     14 257,419  
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 2,146,669  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aGrant Recovery 		        165,000
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 2,404,088 165,000
13Total. Add line 12, columns (b), (d), and (e)..................
13
2,569,088
(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.)
11 Grant Recovery
Form 990-PF (2024)
Form 990-PF (2024)
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
Sign Here
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
right arrow right arrow
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date Check if self-
employed right arrow		 PTIN
Firm's name Right Arrow
 Firm's EIN Right Arrow
Firm's address Right Arrow


 Phone no.
Form 990-PF (2024)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description
Schedule B
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors

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

22-2624600
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ
501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization


Form 990-PF
501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation
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
For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.
Special Rules
For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 331/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Don't complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Right Arrow $  
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) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025) Page 2
Name of organization
Kennebec Savings Bank Foundation
  		Employer identification number
22-2624600
Part I
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
Kennebec Savings Bank
 
150 State Street
 
Augusta, ME04330

$ 680,320


(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) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 3
Name of organization
Kennebec Savings Bank Foundation
  		Employer identification number

22-2624600
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
1
 Publicly Traded Securities $ 680,320 2024-12-26
(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) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 4
Name of organization
Kennebec Savings Bank Foundation
  		Employer identification number

22-2624600
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.) $  
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) (Rev. 1-2025)
Additional Data


Software ID:  
Software Version:  

TY 2024 AccountingFeesSchedule
Name:
Kennebec Savings Bank Foundation
EIN:
22-2624600
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Accounting Fees 9,750 4,875   4,875

TY 2024 InvestmentsCorpBondsSchedule
Name:
Kennebec Savings Bank Foundation
EIN:
22-2624600
Name of Bond End of Year Book Value End of Year Fair Market Value
75000 SHR AT&T INC T 2.300 06/01/27 '27 70,769 70,769
120000 SHR American Express Co 4.90% due 02/13/2026 120,422 120,422
120000 SHR Amgen Inc 5.25% due 03/02/2033 119,210 119,210
50000 SHR Apple Inc 3.25% due 02/23/2026 49,404 49,404
80000 SHR Bank Of America Corp 2.087% due 06/14/29 '28 72,610 72,610
60000 SHR Broadcom Inc 4.75% due 04/15/2029 59,562 59,562
60000 SHR CVS Health Corp 5.00% due 01/30/2029 59,115 59,115
90000 SHR Charles Schwab Corp 6.196% due 11/17/2029 93,757 93,757
75000 SHR Citigroup INC C 1.462 06/09/27 '26 Frn 71,388 71,388
120000 SHR Citizens Financial Group Inc. 5.718% due 7/23/2032 121,063 121,063
100000 SHR Fifth Third Bancorp 6.361% due 10/27/2028 103,453 103,453
60000 SHR Goldman Sachs Group 3.8% due 03/15/2030 56,159 56,159
120000 SHR Huntington Bancshares Incorporated 5.272% due 01/15/2031 119,978 119,978
80000 SHR Intel Corp 2.45% Due 11/15/2029 70,185 70,185
80000 SHR Intercontinental Exchange INC 2.1% 06/15/30 69,304 69,304
55000 SHR Keycorp Key 2.250 04/06/27 Mtn 51,811 51,811
70000 SHR Lowe's Cos Inc 3.1% Due 05/03/2027 67,683 67,683
60000 SHR Meta Plaorms Inc. 3.50% due 08/15/2027 58,632 58,632
75000 SHR Morgan Stanley Ms 1.593 05/04/27 '26 Mtn 71,895 71,895
45000 SHR ORCL 2.65% due 07/15/2026 43,651 43,651
30000 SHR PEP 2.75% due 04/30/2025 29,830 29,830
100000 SHR PNC Financial Services Group Inc 6.037% due 10/28/33 103,491 103,491
65000 SHR Salesforce.com Inc 3.7% Due 4/11/2028 63,213 63,213
80000 SHR Starbucks Corp 2.25% due 03/12/30 70,073 70,073
30000 SHR Target Corp 2.5% Due 04/15/2026 29,270 29,270
55000 SHR VMWare Inc 1.80% due 08/15/2028 49,330 49,330
80000 SHR Walt Disney CO Dis 2.000 09/01/29 '29 71,061 71,061
50000 SHR Wells Fargo Co 3.55% due 09/29/25 49,632 49,632
120000 Williams Companies Inc. 5.3% due 08/15/2028 121,072 121,072
60000 SHR Aon Plc 3.875% due 12/15/2025 59,553 59,553

TY 2024 InvestmentsCorpStockSchedule
Name:
Kennebec Savings Bank Foundation
EIN:
22-2624600
Name of Stock End of Year Book Value End of Year Fair Market Value
13742.227 SHR American Europacific Growth (Mstar ***) 739,057 739,057
7554.064 SHR Invesco Oppenheimer Developing Markets I (Mstar ****) 287,357 287,357
11901.862 SHR Clearbridge Intl Growth Fund (Mstar ****) 769,336 769,336
20959.944 SHR Touchstone Sands Cap Emg Mrkts Growth Fd Inst (Mstar *****) 301,404 301,404
7675.18 SHR T. Rowe Price Mid-Cap Growth I (Mstar ***) 767,825 767,825
24476.763 SHR MFS Mid Cap Value Fund (Mstar ****) 778,116 778,116
5652.49 SHR Cohen & Steers Instl Realty Shs (Mstar *****) 270,811 270,811
7709.647 SHR Vanguard Small Cap Index Admiral (Mstar ***) 887,843 887,843
348 SHR Abbvie Inc. 99,867 99,867
175 SHR Adobe Sys Inc 77,819 77,819
2017 SHR Alphabet Inc. Cl A 381,818 381,818
354 SHR Alphabet Inc. Cl C 67,416 67,416
1721 SHR Amazon.com Inc. 377,570 377,570
254 SHR American Tower Corporation 46,586 46,586
179 SHR Ameriprise Financial Inc 95,305 95,305
1996 SHR Apple Inc. 499,838 499,838
325 SHR Berkshire Hathaway Cl B 147,316 147,316
32 SHR Booking Holdings Inc 158,989 158,989
935 SHR Broadcom Inc 216,770 216,770
346 SHR Caterpillar Inc 125,515 125,515
2020 SHR Cisco Systems Inc. 119,584 119,584
692 SHR Conocophillips 68,626 68,626
132 SHR Costco Wholesale Corp. 120,948 120,948
308 SHR Danaher Corp. 70,701 70,701
1696 SHR Dow Inc 68,060 68,060
482 SHR Ecolab Inc 112,942 112,942
1506 SHR Exxon Mobil Corp 162,000 162,000
3535 SHR Ford Motor Co 34,997 34,997
670 SHR Fortive Corp 50,250 50,250
280 SHR Home Depot Inc 108,917 108,917
438 SHR Honeywell Intl Inc. 98,940 98,940
616 SHR JPMorgan Chase & Co. 147,661 147,661
305 SHR McDonald's Corp. 88,416 88,416
854 SHR Merck & Co. Inc. 84,956 84,956
201 SHR Meta Platforms Inc Cl A 117,688 117,688
1386 SHR Microsoft Corp 584,198 584,198
189 SHR Northrop Grumman Corp 88,696 88,696
2734 SHR Nvidia Corp 367,149 367,149
405 SHR PNC Financial Services Group 78,104 78,104
1248 SHR Paypal Holdings Inc 106,517 106,517
611 SHR PepsiCo, Inc. 92,909 92,909
400 SHR Procter & Gamble Co. 67,060 67,060
790 SHR Raytheon Technologies Corp 112,480 112,480
687 SHR Salesforce Inc 122,699 122,699
375 SHR Tesla Motors Inc 57,345 57,345
209 SHR Thermo Fisher Scientific Inc. 108,728 108,728
515 SHR Union Pacific Corp. 117,441 117,441
291 SHR UnitedHealth Group Inc. 147,205 147,205
415 SHR Visa Inc. 131,157 131,157
1037 SHR Walmart Inc. 93,693 93,693
585 SHR Walt Disney Co 65,140 65,140
360 SHR Z oetis Inc 58,655 58,655
370 SHR Chubb Ltd 102,231 102,231
2387 SHR Eaton Corp PLC 792,174 792,174
630 SHR TE Connectivity Ltd. 90,071 90,071

TY 2024 InvestmentsGovtObligationsSch
Name:
Kennebec Savings Bank Foundation
EIN:
22-2624600
US Government Securities - End of Year Book Value:

1,989,416
US Government Securities - End of Year Fair Market Value:

1,989,416
State & Local Government Securities - End of Year Book Value:


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


0


TY 2024 OtherDecreasesSchedule
Name:
Kennebec Savings Bank Foundation
EIN:
22-2624600
Description Amount
Unrealized Gain on Investments 28,821


TY 2024 OtherIncomeSchedule2
Name:
Kennebec Savings Bank Foundation
EIN:
22-2624600
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
Grant Recovery 165,000   165,000


TY 2024 OtherProfessionalFeesSchedule
Name:
Kennebec Savings Bank Foundation
EIN:
22-2624600
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Investment Management Fees 60,957 60,957   0


TY 2024 TaxesSchedule
Name:
Kennebec Savings Bank Foundation
EIN:
22-2624600
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Federal Excise Taxes 9,620 0   0