University Of Southern Maine Foundation

Organization Overview

University Of Southern Maine Foundation is located in Portland, ME. The organization was established in 2000. According to its NTEE Classification (T50) the organization is classified as: Philanthropy, Charity & Voluntarism Promotion, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 06/2022, University Of Southern Maine Foundation employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Of Southern Maine Foundation 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 06/2022, University Of Southern Maine Foundation generated $17.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 27.1% each year . All expenses for the organization totaled $7.7m during the year ending 06/2022. While expenses have increased by 24.7% 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 2015, University Of Southern Maine Foundation has awarded 38 individual grants totaling $26,713,241. 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

SUPPORT FOR THE UNIVERSITY OF SOUTHERN MAINE.

Describe the Organization's Program Activity:

Part 3 - Line 4a

SUPPORTED THE UNIVERSITY BY TRANSFERRING SCHOLARSHIP FUNDS FOR STUDENTS STUDYING, SCIENCE, TECHNOLOGY, ENGINEERING, HEALTH, EDUCATION, MUSIC, NURSING, AND FOR STUDENTS STUDYING AT THE LEWISTON-AUBURN CAMPUS. RECEIVED DONATIONS TO ASSIST IN SUPPLYING THE OSHER MAP LIBRARY, HOUSED AT THE UNIVERSITY OF SOUTHERN MAINE, WITH MAPS, BOOKS, AND ARTIFACTS. RECEIVED SEVERAL LARGE PLEDGE INTENTIONS TO CREATE ENDOWMENTS FOR: AN ENDOWED CHAIR FOR RISK MANAGEMENT, PROMISE SCHOLARSHIP FUND, AND MUSIC SCHOLARSHIPS. CONTINUED TO INVEST ENDOWMENTS PRUDENTLY AND RESPONSIBLY IN ORDER TO PROVIDE INCOME FOR SCHOLARSHIPS, PROFESSORSHIPS, STAFF DEVELOPMENT AND OPERATIONS WHICH ALL BENEFIT THE UNIVERSITY OF SOUTHERN MAINE.


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Board, Officers & Key Employees

Name (title)Compensation
Ainsley Newman Wallace
President
$165,277
Corey Hascall
Vice President
$123,245
Susan Palmer
Director Of Principal Gift
$109,232
Erin Macey
Executive Director
$106,997
Daniel Crewe
Chair
$0
Stephen Decastro
Vice Chair
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $248,400
All other contributions, gifts, grants, and similar amounts not included above$14,895,757
Noncash contributions included in lines 1a–1f $728,448
Total Revenue from Contributions, Gifts, Grants & Similar$15,144,157
Total Program Service Revenue$1,488,594
Investment income $421,294
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 $17,054,045

Grants Awarded

Over the last fiscal year, University Of Southern Maine Foundation has awarded $4,997,336 in support to 4 organizations.

Grant RecipientAmount

USM OSHER MAP LIBRARY FOUNDATION

Org PageRecipient Profile

Portland, ME

PURPOSE: Osher Map Library Collection

$2,076,608

UNIVERSITY OF SOUTHERN MAINE

Org PageRecipient Profile

Orono, ME

PURPOSE: USM programs & capital projects

$2,045,457

UNIVERSITY OF SOUTHERN MAINE

Org PageRecipient Profile

Orono, ME

PURPOSE: Endowment income gifted to USM

$854,479

UNIVERSITY OF SOUTHERN MAINE

Org PageRecipient Profile

Orono, ME

PURPOSE: Osher Map Library Collection

$20,792
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that University Of Southern Maine Foundation has recieved totaling $5,000.

Awarding OrganizationAmount
$5,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$31,964,497
Earnings-$3,838,007
Net Contributions$2,020,950
Other Expense$3,107,687
Ending Balance$27,039,753

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