Maine Renewable Energy Association
- Assets
- $321.6k
- Revenue
- $397.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Augusta, ME
- Founding
- 06/1995
- Data as of
- 12/2022
- EIN
- 01-0491904
Organization Overview
Maine Renewable Energy Association is located in Augusta, ME. The organization was established in 1995. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Maine Renewable Energy Association 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, Maine Renewable Energy Association generated $397.9k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $281.5k during the year ending 12/2022. 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 ASSOCIATE ITS MEMBERS TOGETHER FOR THEIR MUTUAL BENEFIT AS (1) DEVELOPERS & PRODUCERS OF RENEWABLE ELECTRIC ENERGY, AND (2) SUPPLIERS OF GOODS & SERVICES TO SUCH PRODUCERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
(1) GATHERED AND DISSEMENATED INFORMATION TO THE MEMBERSHIP ABOUT PENDING FEDERAL AND STATE REGULATIONS THAT MAY IMPACT RENEWABLE POWER PRODUCERS; (2) DEVELOPED A DATABASE OF AND ESTABLISHED COMMUNICATION LINKS WITH SIMILAR ORGANIZATIONS LOCATED IN THE STATE AND THROUGHOUT THE NATION; AND (3) ATTENDED SEMINARS AND CONFERENCES THAT ADDRESSED ISSUES RELEVANT TO RENEWABLE POWER PRODUCERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeremy Payne Executive Di | OfficerTrustee | 40 | $112,663 |
Meghan Leahy President/di | OfficerTrustee | $0 | |
Rebecca Howard Vp/director | OfficerTrustee | $0 | |
Paul Williamson Vp/director | OfficerTrustee | $0 | |
Aidan Foley Secretary/di | OfficerTrustee | $0 | |
Michelle Carpenter Treasurer/di | OfficerTrustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $387,180 |
| 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 | $387,180 |
| Total Program Service Revenue | $0 |
| Investment income | $30 |
| 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 | $397,860 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $139,939 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,885 |
| Fees for services: Lobbying | $20,026 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $98,457 |
| Advertising and promotion | $0 |
| Office expenses | $674 |
| Information technology | $1,819 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $218 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,204 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,559 |
| All other expenses | $0 |
| Total functional expenses | $281,545 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,315 |
| Savings and temporary cash investments | $318,325 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $321,640 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $321,640 |
| 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 | $321,640 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Eastern Maine Electric Cooperative Inc Calais, ME | $53,940,615 | $17,279,980 |
Fox Islands Electric Cooperative Inc Vinalhaven, ME | $19,465,997 | $2,926,731 |
Light Of Life Ministries Inc Augusta, ME | $2,671,599 | $1,151,596 |
Northern Maine Independent System Administration Inc Bangor, ME | $2,378,425 | $1,121,875 |
Maine Water Utilities Association Augusta, ME | $605,822 | $846,884 |
Industrial Energy Consumer Group Augusta, ME | $56,607 | $454,852 |
Maine Renewable Energy Association Augusta, ME | $321,640 | $397,860 |
Mountain Top Telecom Inc Franconia, NH | $152,799 | $251,110 |
Monmouth Water Association Monmouth, ME | $1,800,228 | $222,087 |
Maine Water Environment Association Augusta, ME | $64,398 | $0 |
Newport Community Television Inc Newport, NH | $333,515 | $0 |
International Association Of Electrical Inspectors Wolfeboro, NH | $312,658 | $0 |
Chocorua Public Library Chocorua, NH | $406,928 | $66,747 |
Northeast Association Of Electric Cooperatives Inc Plymouth, NH | $64,783 | $0 |
Swans Island Electric Cooperative Inc Swans Island, ME | $0 | $0 |