Maine Community Foundation Inc
- Assets
- $775.7m
- Revenue
- $98.0m
- Investments
- $309.9m
- Employees
- 55
- Location
- Ellsworth, ME
- Founding
- 01/1984
- Data as of
- 12/2021
- EIN
- 01-0391479
Organization Overview
Maine Community Foundation Inc is located in Ellsworth, ME. The organization was established in 1984. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Maine Community Foundation Inc employed 55 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Maine Community Foundation 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 12/2021, Maine Community Foundation Inc generated $98.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.7% each year. All expenses for the organization totaled $54.6m during the year ending 12/2021. While expenses have increased by 5.4% 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 2014, Maine Community Foundation Inc has awarded 7,465 individual grants totaling $267,424,881. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO BRING PEOPLE AND RESOURCES TOGETHER TO BUILD A BETTER MAINE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTMAKING. THE MAINE COMMUNITY FOUNDATION PROVIDES DONORS WITH MANY WAYS TO STRENGTHEN MAINE COMMUNITIES, INCLUDING SUPPORTING INDIVIDUAL NONPROFITS, SCHOLARSHIPS, COUNTY FUNDS, SPECIFIC ISSUES OR CHANGING NEEDS. IN 2022, THE FOUNDATION PROVIDED OVER $54 MILLION IN GRANTS SUPPORTING CHARITABLE ORGANIZATIONS TO ADDRESS A NUMBER OF ISSUES INCLUDING THE ENVIRONMENT, COMMUNITY ECONOMIC DEVELOPMENT, RACIAL EQUITY, HOUSING AND FOOD INSECURITY, EDUCATION, HEALTH AND WELLBEING, AND ARTS AND CULTURE.(CONTINUED ON SCHEDULE O)THE $54 MILLION IN GRANTS PAID IN 2022 INCLUDED MORE THAN $2.6 MILLION IN SCHOLARSHIPS AWARDED TO OVER 1200 RECIPIENTS FOR PROFESSIONAL DEVELOPMENT, AND UNDERGRADUATE AND GRADUATE STUDIES. IT ALSO INCLUDED $1.5 MILLION IN GRANTS FROM THE MAINE COMMUNITY FOUNDATION COMMUNITY BUILDING PROGRAM, WHICH ENGAGES COMMUNITIES ACROSS MAINE TO PROVIDE RESOURCES TO NONPROFITS FROM THE FOUNDATION'S ENDOWED COUNTY FUNDS. IT ALSO INCLUDED THE COMMUNITY LEADERSHIP GRANTS OF $371 THOUSAND TO IMPROVE THE QUALITY OF LIFE FOR MAINE PEOPLE THROUGH PARTNERSHIPS WITH DONORS, NONPROFITS, INSTITUTIONS, AND OTHER COMMUNITY MEMBERS TO ADDRESS THE BARRIERS THAT PREVENT MAINE PEOPLE FROM FULLY ENGAGING IN, AND CONTRIBUTING TO, MAINE COMMUNITIES AND THE MAINE ECONOMY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sarah Armentrout Director | Trustee | 1 | $0 |
Brian Bernatchez Director | Trustee | 1 | $0 |
Timothy Crowley Director | Trustee | 1 | $0 |
Matthew P Dubois Director | Trustee | 1 | $0 |
Martha Dumont Director | Trustee | 1 | $0 |
Susan Hammond Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bowman Constructors Construction Services | 12/30/20 | $1,081,669 |
Monticello Associates Investment Consulting | 12/30/20 | $379,167 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,210 |
| All other contributions, gifts, grants, and similar amounts not included above | $53,095,198 |
| Noncash contributions included in lines 1a–1f | $10,097,303 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $53,098,408 |
| Total Program Service Revenue | $1,079,095 |
| Investment income | $2,433,161 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $41,437,911 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $98,048,575 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $39,560,982 |
| Grants and other assistance to domestic individuals. | $2,555,764 |
| Grants and other assistance to Foreign Orgs/Individuals | $327,243 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,375,819 |
| Compensation of current officers, directors, key employees. | $507,751 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,511,884 |
| Pension plan accruals and contributions | $196,617 |
| Other employee benefits | $507,198 |
| Payroll taxes | $274,070 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $26,778 |
| Fees for services: Accounting | $45,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,706,056 |
| Fees for services: Other | $516,277 |
| Advertising and promotion | $118,862 |
| Office expenses | $264,740 |
| Information technology | $174,717 |
| Royalties | $0 |
| Occupancy | $204,971 |
| Travel | $32,420 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $36,430 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $84,453 |
| Insurance | $60,234 |
| All other expenses | $0 |
| Total functional expenses | $54,618,819 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $300 |
| Savings and temporary cash investments | $101,478,623 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $601,882 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $230,486 |
| Net Land, buildings, and equipment | $1,781,058 |
| Investments—publicly traded securities | $354,234,650 |
| Investments—other securities | $309,908,816 |
| Investments—program-related | $1,549,458 |
| Intangible assets | $0 |
| Other assets | $5,891,729 |
| Total assets | $775,677,002 |
| Accounts payable and accrued expenses | $173,769 |
| Grants payable | $405,000 |
| 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 | $135,876,906 |
| Total liabilities | $136,455,675 |
| Net assets without donor restrictions | $633,329,598 |
| Net assets with donor restrictions | $5,891,729 |
| 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 | $775,677,002 |
Grants Awarded
Over the last fiscal year, Maine Community Foundation Inc has awarded $48,664,986 in support to 981 organizations.
| Grant Recipient | Amount |
|---|---|
317 MAIN ST COMMUNITY MUSIC CENTER INC PURPOSE: Performing Arts Schools | $10,500 |
3I HOUSING OF MAINE PURPOSE: Independent Housing for People with Disabilities | $7,000 |
ADCARE EDUCATIONAL INSTITUTE OF MAINE PURPOSE: Substance Abuse Dependency, Prevention & Treatment | $25,000 |
AIO FOOD AND ENERGY ASSISTANCE PURPOSE: Food Banks & Pantries, Heating Assistance | $31,700 |
AK HEALTH AND SOCIAL SERVICES PURPOSE: Ethnic & Immigrant Centers | $16,950 |
AMERICAN INDIAN COLLEGE FUND PURPOSE: Scholarships & Student Financial Aid | $6,500 |