University Of Maine Pulp And Paper Foundation
- Assets
- $35.1m
- Revenue
- $5.2m
- Investments
- $3.7m
- Employees
- 3
- Location
- Orono, ME
- Founding
- 06/1954
- Data as of
- 12/2021
- EIN
- 01-0237721
Organization Overview
University Of Maine Pulp And Paper Foundation is located in Orono, ME. The organization was established in 1954. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, University Of Maine Pulp And Paper Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Of Maine Pulp And Paper 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 12/2021, University Of Maine Pulp And Paper Foundation generated $5.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 29.5% each year . All expenses for the organization totaled $1.6m during the year ending 12/2021. While expenses have increased by 5.4% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
FURTHER THE STUDY OF PULP & PAPER AND RELATED SUBJECTS AT THE UNIVERSITY OF MAINE AND ENCOURAGE STUDENTS TO CONSIDER PAPER RELATED TECHNICAL CAREERS.
Describe the Organization's Program Activity:
AWARDING OF SCHOLARSHIPS TO 130 INDIVIDUAL STUDENTS.
AWARDING OF GRANTS AND ASSISTANCE TO PROFESSORS AND THE UNIVERSITY OF MAINE FOR THE SUPPORT OF TEACHING AND FACULTY ACTIVITIES AND PROMOTION OF ENGINEERING STUDIES.
HIGH SCHOOL AND EDUCATIONAL RELATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David M Colter Board Chairperson | OfficerTrustee | 0.3 | $0 |
Beth A Cormier Executive Com Chair | OfficerTrustee | 0.3 | $0 |
Tracy Hill Smith Treasurer | OfficerTrustee | 0.5 | $0 |
Mark W Kowlzan Secretary | OfficerTrustee | 0.1 | $0 |
Mark Stuart Cross Vice President | OfficerTrustee | 0.1 | $0 |
Barbara Kerr Hamilton Vice President | OfficerTrustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $613,499 |
| Investment income | $522,452 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,085,869 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,221,820 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $900,637 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $262,348 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $60,020 |
| Pension plan accruals and contributions | $26,443 |
| Other employee benefits | $30,463 |
| Payroll taxes | $21,308 |
| 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 | $63,200 |
| Advertising and promotion | $0 |
| Office expenses | $20,558 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $392 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $86,453 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,604,574 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $83,578 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $500,300 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $30,778,982 |
| Investments—other securities | $3,699,361 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $35,062,221 |
| Accounts payable and accrued expenses | $75 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $75 |
| Net assets without donor restrictions | $7,528,908 |
| Net assets with donor restrictions | $27,533,238 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $35,062,146 |