Sunrise County Economic Council
- Assets
- $3.1m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 20
- Location
- Machias, ME
- Founding
- 03/1995
- Data as of
- 09/2021
- EIN
- 01-0493897
Organization Overview
Sunrise County Economic Council is located in Machias, ME. The organization was established in 1995. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2021, Sunrise County Economic Council employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sunrise County Economic Council 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 09/2021, Sunrise County Economic Council generated $3.3m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 22.4% each year . All expenses for the organization totaled $2.6m during the year ending 09/2021. While expenses have increased by 24.9% per year over the past 6 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE SCEC INITIATES AND FACILITATES THE CREATION OF JOBS AND PROSPERITY IN WASHINGTON COUNTY, MAINE BY WORKING WITH A CONSORTIUM OF COMMUNITY-MINDED BUSINESSES, NOT-FOR-PROFIT ORGANIZATIONS, MUNICIPALITIES AND CITIZENS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FAMILY FUTURES DOWNEAST & STARTUP DOWNEAST - PROMOTING POST-SECONDARY EDUCATION FOR PARENTS AND EARLY CHILDHOOD EDUCATION FOR THEIR CHILDREN AS A MEANS TO REDUCE POVERTY, CREATE EMPLOYMENT OPPORTUNITIES AND IMPROVE STABILITY IN WASHINGTON COUNTY, MAINE FAMILIES. EMPOWERING INDIVIDUALS THROUGH COLLEGE CAREERS TO EMPLOYMENT AND SMALL BUSINESS OWNERSHIP.
DOWNEAST FISHERIES PARTNERSHIP GRANTS - ON A MISSION TO STRENGTHEN DOWNEAST MAINE COMMUNITIES BY RESTORING A STRONG AND RESILIENT ECOSYSTEM AND OUR REGIONAL FISHERIES ECONOMY.
SCEC ADMINISTERS VARIOUS OTHER PROGRAMS AND INTIATIVES LIKE THE WHOLE FAMILY TO JOBS PROGRAM, THE WASHINGTON COUNTY LEADERSHIP INSTITUTE INITIATIVE,AND THE PROCUREMENT TECHNICAL ASSISTANCE CENTER (PTAC) PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles J Rudelitch Executive Di | Officer | 40 | $88,484 |
Gabriela M Montoya Eyerman Finance Dire | Officer | 40 | $73,102 |
Lucas Morris Treasurer | OfficerTrustee | 2 | $0 |
Betsy Fitzgerald Secretary | OfficerTrustee | 2 | $0 |
Thomas Michaud Chair | OfficerTrustee | 2 | $0 |
Kay Kimball Vice Chair | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Community Caring Collaborative Ffd Subcontract | 9/29/21 | $137,063 |
Downeast Community Partners Ffd Subcontract | 9/29/21 | $170,184 |
Axiom Education And Training Center Ffd Subcontract | 9/29/21 | $151,999 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,606,306 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,540,978 |
| Noncash contributions included in lines 1a–1f | $9,080 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,147,284 |
| Total Program Service Revenue | $0 |
| Investment income | $24,343 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,332,067 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $454,354 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $196,095 |
| Compensation of current officers, directors, key employees. | $105,607 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $878,303 |
| Pension plan accruals and contributions | $29,291 |
| Other employee benefits | $184,782 |
| Payroll taxes | $85,370 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,368 |
| Fees for services: Accounting | $17,575 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $44,500 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,453 |
| Advertising and promotion | $0 |
| Office expenses | $96,974 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $38,467 |
| Travel | $20,340 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,187 |
| Interest | $16,007 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $20,816 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,627,221 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $57,763 |
| Savings and temporary cash investments | $1,512,458 |
| Pledges and grants receivable | $429,453 |
| Accounts receivable, net | $31,015 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $249,861 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $15,004 |
| Net Land, buildings, and equipment | $775,348 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,070,902 |
| Accounts payable and accrued expenses | $208,363 |
| Grants payable | $0 |
| 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 | $747,950 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $956,313 |
| Net assets without donor restrictions | $398,565 |
| Net assets with donor restrictions | $1,716,024 |
| 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 | $3,070,902 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Sunrise County Economic Council has recieved totaling $137,000.
| Awarding Organization | Amount |
|---|---|
C F Adams Charitable Trust Boston, MA PURPOSE: MULTI-YEAR GRANT FOR WORK WITH SUBSTANCE USE DISORDER COLLABORATIVE | $75,000 |
C F Adams Charitable Trust Boston, MA PURPOSE: MULTI-YEAR GRANT TO STRENGTHEN ADMINISTRATIVE CAPACITY | $50,000 |
Machias Savings Bank Community Development Foundation Machias, ME PURPOSE: PROGRAM SUPPORT GRANT | $7,000 |
C F Adams Charitable Trust Boston, MA PURPOSE: PANDEMIC RECOGNITION GIFT FOR STAFF | $5,000 |
Endowment Analysis
| Beg. Balance | $221,438 |
| Earnings | $67,161 |
| Admin Expense | $5,360 |
| Ending Balance | $283,239 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Monadnock Economic Development Corporation Keene, NH | $44,564,780 | $2,525,403 |
Sunrise County Economic Council Machias, ME | $3,070,902 | $3,332,067 |
Mount Desert 365 Northeast Harbor, ME | $10,254,728 | $159,519 |
Scarborough Economic Development Corp Scarborough, ME | $55,641 | $261,794 |
Piscataquis County Economic Development Council Dover Foxcroft, ME | $741,779 | $245,939 |
New Hampshire Alliance Of Regional Development Corporations Inc Conway, NH | $15,527 | $192,249 |
Friends Of Congress Square Park Portland, ME | $324,204 | $332,794 |
Alpha Loft Manchester, NH | $17,481 | $56,639 |
Colebrook Downtown Development Associatioon Inc Colebrook, NH | $0 | -$123,112 |
Keene Downtown Housing Corporation Keene, NH | $654,446 | $3,885 |
Newmarket Community Development Corp Newmarket, NH | $852,183 | $49,933 |
Greater Keene Chamber Of Commerce Foundation Keene, NH | $72,794 | $63,500 |