Northern Maine Development Commission Inc
- Assets
- $19.1m
- Revenue
- $27.9m
- Investments
- $0.0
- Employees
- 21
- Location
- Caribou, ME
- Founding
- 02/1995
- Data as of
- 06/2022
- EIN
- 22-2635303
Organization Overview
Northern Maine Development Commission Inc is located in Caribou, ME. The organization was established in 1995. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Northern Maine Development Commission Inc employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northern Maine Development Commission 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 06/2022, Northern Maine Development Commission Inc generated $27.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 29.4% each year . All expenses for the organization totaled $26.1m during the year ending 06/2022. While expenses have increased by 27.2% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SERVE THE NORTHERN MAINE REGION WITH EFFECTIVE REGIONAL COMMUNITY PLANNING AND ECONOMIC DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OTHER GRANTS- VARIOUS MARKETING AND DEVELOPMENT GRANTS WHICH ALL ENHANCE THE IMAGE OF NORTHERN MAINE, AND TO DEVELOP A STRONG AGRICULTURE AND MANUFACTURING BUSINESS IMAGE. BEGINNING IN FY21 THIS PROGRAM ALSO FACILITATED MAINE ECONOMIC RECOVERY GRANTS TO SMALL BUSINESSES THROUGH THE CORONAVIRUS RELIEF FUNDS FEDERAL AWARD PROGRAM.
COMMUNITY FUND- PROVIDES SUPPORT FOR ALL THE AREAS OF PROGRAM SERVICES TO THE AGENCY.
REVOLVING LOAN FUND- FINANCING TO LOCAL BUSINESSES INVOLVED IN AGRICULTURE OR MANUFACTURING, TO ASSIST IN THE CREATION OF JOBS AND STRENGTHEN THE ECONOMY IN NORTHERN MAINE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Clark Executive Director | Officer | 40 | $116,500 |
Gary Picard Chair | OfficerTrustee | 1 | $0 |
Sandra Fournier Vice Chair | OfficerTrustee | 1 | $0 |
Norman Fournier Treasurer | OfficerTrustee | 1 | $0 |
Nancy Troeger Secretary | OfficerTrustee | 1 | $0 |
Nancy Ketch Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aroostook County Action Program Service Provider - Wia Program | 6/29/16 | $731,869 |
Maine Department Of Labor Service Provider - Wia Program | 6/29/16 | $514,370 |
Eastern Maine Development Commission Service Provider - Wia Program | 6/29/16 | $111,963 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $205,568 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $24,900,703 |
| All other contributions, gifts, grants, and similar amounts not included above | $34,216 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $25,140,487 |
| Total Program Service Revenue | $1,424,909 |
| Investment income | $2,352 |
| 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 | $27,868,170 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $34,216 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,157,939 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $144,333 |
| Advertising and promotion | $0 |
| Office expenses | $596,586 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $36,605 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $143,974 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $67,184 |
| Insurance | $0 |
| All other expenses | $2,200,197 |
| Total functional expenses | $26,142,280 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,996,878 |
| Pledges and grants receivable | $745,750 |
| Accounts receivable, net | $797,516 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $12,051,486 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $18,792 |
| Net Land, buildings, and equipment | $383,768 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $65,739 |
| Total assets | $19,059,929 |
| Accounts payable and accrued expenses | $1,175,471 |
| Grants payable | $0 |
| Deferred revenue | $251,856 |
| 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 | $5,193,042 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $6,620,369 |
| Net assets without donor restrictions | $2,379,301 |
| Net assets with donor restrictions | $10,060,259 |
| 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 | $19,059,929 |
Grants Awarded
Over the last fiscal year, Northern Maine Development Commission Inc has awarded $26,716 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
COASTAL ENTERPRISES PURPOSE: SBDC 20-21 | $20,037 |
AVCOG PURPOSE: SBDC 20-21 | $6,679 |