Maine Community Foundation Inc
- Assets
- $775.7m
- Revenue
- $98.0m
- Investments
- $309.9m
- Employees
- 45
- Location
- Ellsworth, ME
- Founding
- 01/1984
- Data as of
- 12/2021
- EIN
- 01-0391479
Organization Overview
Maine Community Foundation Inc is located in Ellsworth, ME. The organization was established in 1984. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Maine Community Foundation Inc employed 45 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Maine Community Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Maine Community Foundation Inc generated $98.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.7% each year. All expenses for the organization totaled $54.6m during the year ending 12/2021. While expenses have increased by 5.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Maine Community Foundation Inc has awarded 6,484 individual grants totaling $218,759,895. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
STATEWIDE COMMUNITY FOUNDATION
Describe the Organization's Program Activity:
GRANTMAKING. OPERATION OF A STATEWIDE COMMUNITY FOUNDATION TO RECEIVE AND ACCEPT PROPERTY TO BE ADMINISTERED EXCLUSIVELY FOR CHARITABLE PURPOSES, IN OR FOR THE BENEFIT OF THE COMMUNITIES OF THE STATE OF MAINE AND ELSEWHERE, INCLUDING BUILDING PERMANENT AND LONG-TERM CHARITABLE FUNDS, PROVIDING STEWARDSHIP OF THOSE FUNDS, CONNECTING DONORS TO ORGANIZATIONS AND PROGRAMS THEY CARE ABOUT, AND MAKING EFFECTIVE GRANTS.
COMMUNITY LEADERSHIP. TO IMPROVE THE QUALITY OF LIFE FOR MAINE PEOPLE, MAINECF PARTNERS WITH DONORS, NONPROFITS, INSTITUTIONS, AND OTHER COMMUNITY MEMBERS TO ADDRESS THE BARRIERS THAT PREVENT MAINE PEOPLE FROM FULLY ENGAGING IN, AND CONTRIBUTING TO, MAINE COMMUNITIES AND THE MAINE ECONOMY. MAINECF'S STRATEGIC GOALS FOCUS ON FIVE CORE AREAS WITH POTENTIAL TO ADDRESS THIS CHALLENGE. THE FIVE GOALS INCLUDE: - YOUNG CHILDREN HAVE A STRONG START - ADULT LEARNERS HAVE ACCESS TO COMPLETE A DEGREE OR CERTIFICATE PROGRAM - ALL PEOPLE OF COLOR HAVE ACCESS TO OPPORTUNITIES AND ARE NOT (SEE SCHEDULE O FOR A CONTINUATION)LIMITED BY RACE OR ETHNICITY - OLDER PEOPLE IN MAINE ARE VALUED AND ABLE TO THRIVE - ENTREPRENEURS AND INNOVATORS IN MAINE HAVE THE OPPORTUNITY TO BRING THEIR BIG IDEAS TO LIFE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
G Steven Rowe President/ceo/ex Officio(end 6/2021) | Officer | 50 | $210,968 |
James E Geary Treasurer/vp, CFO (end 3/2021) | Officer | 50 | $191,026 |
Jennifer Southard Vp, Donor Service & Operations | Officer | 50 | $150,684 |
Michele Camarco Treasurer/vp, CFO (eff 3/2021) | Officer | 50 | $142,778 |
Lelia Deandrade Vp, Community Impact | Officer | 50 | $137,630 |
Laura Young Vp, Philanthropy | Officer | 50 | $137,164 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bowman Constructors Construction Services | 12/30/20 | $1,081,669 |
Monticello Associates Investment Consulting | 12/30/20 | $379,167 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,210 |
| All other contributions, gifts, grants, and similar amounts not included above | $53,095,198 |
| Noncash contributions included in lines 1a–1f | $10,097,303 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $53,098,408 |
| Total Program Service Revenue | $1,079,095 |
| Investment income | $2,433,161 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $41,437,911 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $98,048,575 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $39,560,982 |
| Grants and other assistance to domestic individuals. | $2,555,764 |
| Grants and other assistance to Foreign Orgs/Individuals | $327,243 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,375,819 |
| Compensation of current officers, directors, key employees. | $507,751 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,511,884 |
| Pension plan accruals and contributions | $196,617 |
| Other employee benefits | $507,198 |
| Payroll taxes | $274,070 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $26,778 |
| Fees for services: Accounting | $45,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,706,056 |
| Fees for services: Other | $516,277 |
| Advertising and promotion | $118,862 |
| Office expenses | $264,740 |
| Information technology | $174,717 |
| Royalties | $0 |
| Occupancy | $204,971 |
| Travel | $32,420 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $36,430 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $84,453 |
| Insurance | $60,234 |
| All other expenses | $0 |
| Total functional expenses | $54,618,819 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $300 |
| Savings and temporary cash investments | $101,478,623 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $601,882 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $230,486 |
| Net Land, buildings, and equipment | $1,781,058 |
| Investments—publicly traded securities | $354,234,650 |
| Investments—other securities | $309,908,816 |
| Investments—program-related | $1,549,458 |
| Intangible assets | $0 |
| Other assets | $5,891,729 |
| Total assets | $775,677,002 |
| Accounts payable and accrued expenses | $173,769 |
| Grants payable | $405,000 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $135,876,906 |
| Total liabilities | $136,455,675 |
| Net assets without donor restrictions | $633,329,598 |
| Net assets with donor restrictions | $5,891,729 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $775,677,002 |
Grants Awarded
Over the last fiscal year, Maine Community Foundation Inc has awarded $37,361,486 in support to 988 organizations.
| Grant Recipient | Amount |
|---|---|
Orland, ME PURPOSE: Land Resources Conservation | $674,222 |
Portland, ME PURPOSE: Legal Services, Equity, Community Education | $653,640 |
Salisbury Cove, ME PURPOSE: Biomedicine & Bioengineering, Building Improvement, Economic Development | $573,498 |
Bangor, ME PURPOSE: Land Resources Conservation | $542,180 |
STATE OF MAINE PURPOSE: Government & Public Administration | $531,871 |
Arlington, VA PURPOSE: Environment | $525,170 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Maine Community Foundation Inc has recieved totaling $1,279,173.
| Awarding Organization | Amount |
|---|---|
P D Merrill Charitable Tr U-A Dtd 11-02-06 Portland, ME PURPOSE: GENERAL SUPPORT | $1,276,173 |
Becton Family Foundation Tr Homosassa, FL PURPOSE: CONTRIBUTION TO GENERAL FUND | $3,000 |
Endowment Analysis
| Beg. Balance | $228,665,844 |
| Earnings | $43,501,684 |
| Admin Expense | $2,582,785 |
| Net Contributions | $4,318,881 |
| Other Expense | $128,708 |
| Grants | $8,266,218 |
| Ending Balance | $265,508,698 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New Hampshire Charitable Foundation Concord, NH | $946,933,381 | $84,058,560 |
Maine Community Foundation Inc Ellsworth, ME | $775,677,002 | $98,048,575 |
Community Colleges Of New Hampshire Foundation Concord, NH | $6,010,918 | $979,951 |
Friends In Action Durham, NH | $393,007 | $310,698 |
Friends Of Mascoma Foundation Canaan, NH | $420,014 | $333,255 |
North Haven Foundation Rockland, ME | $4,860,567 | $621,495 |
Manchester Masonic Temple Association Manchester, NH | $1,932,525 | $188,820 |
Islesboro Community Fund Islesboro, ME | $620,920 | $217,123 |
Dover Rotary Charities Dover, NH | $106,765 | $186,543 |
Jewish Community Endowment Associates Bangor, ME | $1,127,872 | $113,320 |
Sargent Family Community Fund Rangeley, ME | $19,601 | $0 |
Unobskey Foundation Robbinston, ME | $560,654 | $52,609 |