Hospitalitymaine
- Assets
- $526.1k
- Revenue
- $646.8k
- Investments
- $0.0
- Employees
- 6
- Location
- Augusta, ME
- Founding
- 06/1983
- Data as of
- 12/2022
- EIN
- 01-0360869
Organization Overview
Hospitalitymaine is located in Augusta, ME. The organization was established in 1983. According to its NTEE Classification (S03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Hospitalitymaine employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hospitalitymaine is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, Hospitalitymaine generated $646.8k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.4% each year. All expenses for the organization totaled $738.6k during the year ending 12/2022. While expenses have increased by 12.2% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE, PROMOTE, PROTECT AND EDUCATE THE LODGING, RESTAURANT AND HOSPITALITY INDUSTRIES IN MAINE
Describe the Organization's Program Activity:
Part 3 - Line 4a
LODGING GUIDE - PRINT PUBLICATION LISTING ALL MEMBERS, AND OVER 100,000 DISTRIBUTED TO VISITOR CENTERS, CVBS, AND ON REQUEST TO VISITORS
HOSPITALITY SUMMIT/ANNUAL MEETING - THE ANNUAL MEETING IS REQUIRED BY THE BYLAWS. THE SUMMIT IS AN OPPORTUNITY TO BRING EVERYONE TOGETHER TO NETWORK, AND FULFILL OUR COMMUNICATION AND EDUCATION MISSION.
MEMBER SERVICES - PROMOTING MEMBERSHIP AND ANSWERING QUESTIONS FROM MEMBERS IN REGARDS TO OPERATING THEIR BUSINESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew Lewis CEO | Officer | 40 | $103,539 |
Rebecca Jacobson CEO | Officer | 40 | $75,743 |
Roger Beaudoin Director | Trustee | 0.3 | $0 |
Michelle Corry At Large | OfficerTrustee | 0.3 | $0 |
Roger Daigle Director | Trustee | 0.3 | $0 |
Steve Dimillo Past Chair | OfficerTrustee | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $303,301 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $303,301 |
| Total Program Service Revenue | $350,365 |
| Investment income | $5,033 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$28,426 |
| Net Income from Fundraising Events | $16,490 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $646,763 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $370,356 |
| Pension plan accruals and contributions | $22,494 |
| Other employee benefits | $25,554 |
| Payroll taxes | $32,724 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $40 |
| Fees for services: Accounting | $3,590 |
| Fees for services: Lobbying | $325 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,215 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $17,162 |
| Information technology | $15,999 |
| Royalties | $0 |
| Occupancy | $26,161 |
| Travel | $10,817 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,847 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,225 |
| Insurance | $5,408 |
| All other expenses | $37,936 |
| Total functional expenses | $738,591 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $136,545 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $91,797 |
| 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 |
| Net Land, buildings, and equipment | $34,768 |
| Investments—publicly traded securities | $258,979 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $3,999 |
| Other assets | $0 |
| Total assets | $526,088 |
| Accounts payable and accrued expenses | $65,338 |
| Grants payable | $0 |
| Deferred revenue | $157,721 |
| 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 | $223,059 |
| Net assets without donor restrictions | $303,029 |
| Net assets with donor restrictions | $0 |
| 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 | $526,088 |