Eastern Maine Development Corporation
- Assets
- $11.6m
- Revenue
- $6.5m
- Investments
- $0.0
- Employees
- 100
- Location
- Bangor, ME
- Founding
- 09/1994
- Data as of
- 09/2023
- EIN
- 01-0281875
Organization Overview
Eastern Maine Development Corporation is located in Bangor, ME. The organization was established in 1994. 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 09/2023, Eastern Maine Development Corporation employed 100 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Eastern Maine Development Corporation 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 09/2023, Eastern Maine Development Corporation generated $6.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $6.7m during the year ending 09/2023. While expenses have increased by 3.7% per year over the past 8 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 2018, Eastern Maine Development Corporation has awarded 17 individual grants totaling $2,137,293. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
ECONOMIC DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
MUNICIPAL PLANNING THE MUNICIPAL PLANNING ASSISTANCE PROGRAM MPAP WAS SET UP UNDER THE MAINES DEPARTMENT OF AGRICULTURE CONSERVATION AND FORESTRY. IT IS IMPLEMENTED THROUGH EMDCS REGIONAL PLANNING COMMISSION RPC. THE RPC PROVIDES MUNICIPAL TECHNICAL ASSISTANCE SERVICES AS WELL AS COMPREHENSIVE PLAN AND LAND USE ORDINANCE DEVELOPMENT SERVICES TO ALL TOWNS WITHIN THE PENOBSCOT AND PISCATAQUIS AND SOME OF WALDO COUNTIES. DURING 2023 THE RPC STAFF PROVIDED TECHNICAL ASSISTANCE TO 14 MUNICIPALITIES RANGING FROM LAND USE QUERIES, ORDINANCE DEVELOPMENT, CODE ENFORCEMENT GUIDANCE, AND MRSA TITLE 30-A INTERPRETATION. ALSO INCLUDED WERE A RANGE OF COASTAL CLIMATE WORKSHOPS TO 13 COASTAL TOWNS WITHIN THE PENOBSCOT RIVER ESTUARY. THE RPC PROVIDED COMPREHENSIVE PLANNING DEVELOPMENT SERVICES TO 5 MUNICIPALITIES TOTALING 96,500 IN CONTRACTUAL SERVICES DURING 2023.
BROWNFIELDS ASSESSMENT AND RLF SUMMARY EMDC WAS AWARDED A BROWNFIELDS ASSESSMENT GRANT IN 2022 FOR 500,000 TO PERFORM PHASE I AND II ASSESSMENTS TO DETERMINE EXISTING CONTAMINATION AT POTENTIAL COMMERCIALIZATION SITES. IN 2023, EMDC PERFORMED 13 PHASE 1 AND PHASE 2 ASSESSMENTS IN THE FOUR-COUNTY SERVICE AREA OF HANCOCK, PENOBSCOT, PISCATAQUIS AND WALDO COUNTIES. A TOTAL OF 153 INSTANCES OF TECHNICAL ASSISTANCE ENCOUNTERS WERE REPORTED. EMDC WAS ALSO AWARDED 1 MILLION THROUGH A REVOLVING LOAN FUND GRANT TO AWARD LOANS AND/OR GRANTS FOR CLEANUP PROJECTS. IN 2023, LOANS AND GRANTS WERE GIVEN TO TWO FORMER PAPER MILL SITES LOCATED IN MILLINOCKET AND LINCOLN PENOBSCOT COUNTY. EMDC WILL APPLY FOR AN ADDITIONAL 3 MILLION THROUGH A COMPETITIVE PROCESS TO EXPAND THE REVOLVING LOAN FUND PROGRAM.
ECONOMIC RECOVERY IMPLEMENTATION HUB PROGRAM WAS LAUNCHED JULY 2023 WITH THE GOAL OF PROVIDING TECHNICAL ASSISTANCE, ENTREPRENEURIAL TRAINING, AND GRANT FUNDING TO SMALL BUSINESSES OF LESS THAN 250 EMPLOYEES THAT STARTED ON OR AFTER JANUARY 1, 2020. EMDC COLLABORATES WITH SPOKE PARTNERS TO REACH THE TARGET AUDIENCE MAINE MULTICULTURAL CENTER, NORTHERN MAINE DEVELOPMENT COMMISSION, COOPERATIVE DEVELOPMENT INSTITUTE, UPSTART MAINE, AND FOUR DIRECTIONS DEVELOPMENT CORPORATION. FROM JULY TO SEPTEMBER 30, 2023, THE HUB PROGRAM PROVIDED DIRECT TECHNICAL ASSISTANCE TO 34 UNIQUE CLIENTS, INCLUDING BUT NOT LIMITED TO MARKETING ASSISTANCE, FINDING SOURCES OF FUNDING, BUSINESS PLAN ASSISTANCE, LOCATION LEADS, AND INDUSTRY CONNECTIONS. OF THESE 34 BUSINESSES, 18 WERE WOMEN-OWNED, 8 WERE BIPOC-OWNED, AND 1 WAS VETERAN-OWNED. 15 SMALL BUSINESSES WERE AWARDED GRANTS FOR A TOTAL OF 424,000.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dan Tremble Chairman | OfficerTrustee | 2 | $0 |
Laura Sanborn Secretary-Treasurer | OfficerTrustee | 2 | $0 |
Sven Bartholomew Director | Trustee | 2 | $0 |
Elizabeth Russell Director | Trustee | 2 | $0 |
Denise M Buzzelli Director | Trustee | 2 | $0 |
Dr Steven R Cunningham Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Campbell Environmental Consulting Brownfields Consultant | 9/29/18 | $130,517 |
Elan Brownfields Consultant | 9/29/18 | $111,543 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $25,250 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,568,451 |
| All other contributions, gifts, grants, and similar amounts not included above | $33,515 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,627,216 |
| Total Program Service Revenue | $805,936 |
| Investment income | $2,247 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$3,009 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,477,472 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $881,235 |
| 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 | $2,487,956 |
| Pension plan accruals and contributions | $941,741 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,246 |
| Fees for services: Accounting | $29,096 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $137,257 |
| Advertising and promotion | $8,574 |
| Office expenses | $118,630 |
| Information technology | $197,962 |
| Royalties | $0 |
| Occupancy | $318,294 |
| Travel | $99,854 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $26,234 |
| Interest | $46,606 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $20,000 |
| Insurance | $20,418 |
| All other expenses | $38,964 |
| Total functional expenses | $6,672,882 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $324,510 |
| Savings and temporary cash investments | $2,196,638 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,068,530 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $7,881,053 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $19,707 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $97,847 |
| Total assets | $11,588,285 |
| Accounts payable and accrued expenses | $1,011,959 |
| Grants payable | $0 |
| Deferred revenue | $190,885 |
| 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 | $960,159 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,163,003 |
| Net assets without donor restrictions | $2,326,819 |
| Net assets with donor restrictions | $7,098,463 |
| 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 | $11,588,285 |
Grants Awarded
Over the last fiscal year, Eastern Maine Development Corporation has awarded $140,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
ACADIA WILDERNESS LODGE | | | $50,000 |
PENOBSCOT BAY WEDDINGS & EVENTS | | | $40,000 |
UPSTART MAINE INC | | | $50,000 |