Maine Farmland Trust Inc
- Assets
- $27.7m
- Revenue
- $4.9m
- Investments
- $2.3m
- Employees
- 39
- Location
- Belfast, ME
- Founding
- 07/2004
- Data as of
- 12/2020
- EIN
- 01-0528014
Organization Overview
Maine Farmland Trust Inc is located in Belfast, ME. The organization was established in 2004. According to its NTEE Classification (K25) the organization is classified as: Farmland Preservation, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 12/2021, Maine Farmland Trust Inc employed 39 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Maine Farmland Trust 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 12/2020, Maine Farmland Trust Inc generated $4.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (17.9%) each year. All expenses for the organization totaled $6.9m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Maine Farmland Trust Inc has awarded 63 individual grants totaling $1,868,264. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
MAINE FARMLAND TRUST PROTECTS FARMLAND, SUPPORTS FARMERS, AND ADVANCES THE FUTURE OF FARMING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FARMLAND PROTECTION AND STEWARDSHIP PROGRAM PERMANENTLY PROTECTED FARMLAND THROUGH ACCEPTANCE OF DONATED AGRICULTURAL CONSERVATION EASEMENTS, PURCHASE OF AGRICULTURAL CONSERVATION EASEMENTS, AND PURCHASE, PROTECTION, AND RESALE OF FARMS. IN 2021, MFT COMPLETED 24 LAND PROTECTION PROJECTS, PROTECTING 2,445 ACRES OF LAND. MFT ALSO COMPLETED ANNUAL EASEMENT MONITORING FOR 265 EASEMENTS.
FARM VIABILITY PROGRAM DIRECTLY SUPPORTED FARMERS WITH BUSINESS PLANNING. OFFERED TRAINING AND ASSISTANCE TO FARMERS. COORDINATED A NUTRITION INCENTIVE PROGRAM THAT HELPED LOW-INCOME CONSUMERS TO ACCESS LOCALLY-GROWN AND PRODUCED FOOD AND MAINE FARMERS TO GAIN NEW CUSTOMERS. ORGANIZED A SOIL HEALTH NETWORK TO INFORM, SUPPORT, AND INCETIVISE FARMERS TO IMPROVE THEIR FARM SOILS. APPROXIMATELY 478 FARMS WERE SERVED IN 2021.
EDUCATION AND OUTREACH PROGRAM PROVIDED WORKSHOPS, PRESENTATIONS, REGIONAL MEETINGS AND DISPLAYS AT AGRICULTURAL AND RELATED EVENTS TO PRESENT BOTH GENERAL AND TECHNICAL INFORMATION ABOUT MFT'S WORK. HOSTED A VARIETY OF EVENTS TO INCREASE PUBLIC AWARENESS ABOUT FARMING'S NEEDS AND OPPORTUNITIES, INCLUDING FILM SHOWINGS, FOOD EVENTS, ART EXHIBITS, ETC. APPROXIMATELY 1,223 PEOPLE WERE SERVED THROUGH 9 EVENTS IN 2021.
FARM ACCESS PROGRAM'S MAINE FARMLINK MATCHED PROSPECTIVE FARMERS WITH LANDOWNERS THAT HAVE FARMS AVAILABLE FOR LEASE OR SALE. PROVIDED INDIVIDUAL CONSULTATIONS TO FARM SEEKERS TO HELP WITH IDENTIFYING RESOURCES AND SOLUTIONS FOR COMMON FARMLAND ACCESS CHALLENGES. PROVIDED INTERNAL REFERRALS TO OTHER APPLICABLE MAINE FARMLAND TRUST PROGRAMS AND SERVICES FOR LAND OWNERS AND LAND SEEKERS. COLLABORATED WITH EXTERNAL PARTNERS TO ADDRESS SYSTEMIC AND INDIVIDUAL FARMLAND ACCESS AND TRANSFER CHALLENGES. IN 2021, APPROXIMATELY 10 FARMERS ACCESSED FARMLAND TOTALING 248 ACRES THROUGH THESE SERVICES. MAINE FARMS REALTY PROGRAM PROVIDED PROFESSIONAL REAL ESTATE SERVICES TO MFT AND MAINE'S FARM COMMUNITY, THROUGH TRADITIONAL AND A LA CARTE REAL ESTATE SERVICES. MAINE FARMS REALTY ALSO EDUCATED REAL ESTATE AGENCIES ABOUT FARMLAND PROTECTION AND ENGAGED THOSE AGENCIES TO WORK IN PARTNERSHIP WITH MFT. POLICY AND RESEARCH PROGRAM WORKED ON FEDERAL, STATE, AND MUNICIPAL POLICY ISSUES THAT AFFECT MAINE FARMS, AND ENGAGED IN THOSE POLICY AREAS THAT DIRECTLY IMPACT OUR ABILITY TO PROTECT FARMLAND, SUPPORT FARMERS, AND ADVANCE THE FUTURE OF FARMING. CONDUCTED RESEARCH AND PREPARED REPORTS AND ARTICLES TO INFORM MFT'S POLICY WORK, SUPPORT OTHER MFT PROGRAM AREAS, AND EDUCATE POLICYMAKERS AND THE PUBLIC ABOUT ISSUES AFFECTING MAINE AGRICULTURE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kristin Varnum Vp/cfo/ Co-P | Officer | 40 | $148,512 |
Louanna Perkins Co-President | Officer | 30 | $77,529 |
Amy Fisher President | Officer | 40 | $59,585 |
Dave Colson Vice Chair | OfficerTrustee | 4.5 | $0 |
Meredith Eilers Chair | OfficerTrustee | 6.5 | $0 |
Steven Page Secretary (f | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,494,634 |
| Investment income | $13,115 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,363 |
| Net Gain/Loss on Asset Sales | -$655,933 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,930,457 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $246,101 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $265,803 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,757,122 |
| Pension plan accruals and contributions | $50,596 |
| Other employee benefits | $148,785 |
| Payroll taxes | $167,462 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $37,010 |
| Fees for services: Accounting | $25,851 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $149,688 |
| Advertising and promotion | $14,561 |
| Office expenses | $59,521 |
| Information technology | $80,992 |
| Royalties | $0 |
| Occupancy | $72,709 |
| Travel | $25,499 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $52,322 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $58,762 |
| Insurance | $28,724 |
| All other expenses | $0 |
| Total functional expenses | $6,912,455 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $309,346 |
| Savings and temporary cash investments | $2,887,818 |
| Pledges and grants receivable | $659,494 |
| Accounts receivable, net | $32,728 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,865,866 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $83,865 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,324,980 |
| Investments—program-related | $0 |
| Intangible assets | $8,558 |
| Other assets | $18,304,480 |
| Total assets | $27,747,175 |
| Accounts payable and accrued expenses | $287,825 |
| Grants payable | $0 |
| Deferred revenue | $860,881 |
| 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 | $600,242 |
| Unsecured mortgages and notes payable | $725,621 |
| Other liabilities | $0 |
| Total liabilities | $2,474,569 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $25,272,606 |
Grants Awarded
Over the last fiscal year, Maine Farmland Trust Inc has awarded $234,968 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
THE MILKHOUSE LLC PURPOSE: IMPLEMENTATION | $50,000 |
SOUTHPAW FARM PURPOSE: IMPLEMENTATION | $50,000 |
DANDELION SPRING FARM PURPOSE: IMPLEMENTATION | $50,000 |
SHEEPSCOT VALLEY FARM INC PURPOSE: IMPLEMENTATION | $50,000 |
HALL BROOK FARM PURPOSE: IMPLEMENTATION GRANT | $29,233 |
Edgecomb, ME PURPOSE: CONSERVATION | $5,735 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Maine Farmland Trust Inc has recieved totaling $261,900.
| Awarding Organization | Amount |
|---|---|
Trust Ud W Bingham Ii 207751 Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $160,000 |
Mudge Foundation 4942-0 Pittsburgh, PA PURPOSE: GENERAL SUPPORT | $100,000 |
Becton Family Foundation Tr Homosassa, FL PURPOSE: CONTRIBUTION TO GENERAL FUND | $1,000 |
Laurence B Flood Foundation Inc Blue Hill, ME PURPOSE: GENERAL USE | $500 |
Woodside Foundation Freeport, ME PURPOSE: GENERAL OPERATING SUPPORT | $400 |
Endowment Analysis
| Beg. Balance | $16,077 |
| Earnings | $3,277 |
| Admin Expense | $340 |
| Other Expense | $1,037 |
| Ending Balance | $17,977 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Maine Farmland Trust Inc Belfast, ME | $27,747,175 | $4,930,457 |
Agrarian Land Trust Weare, NH | $3,433,312 | $2,915,590 |
Upper Saco Valley Land Trust Conway, NH | $6,345,238 | $1,759,779 |
Ramblin Vewe Farm Tr Laconia, NH | $1,799,750 | $217,895 |
Rural Heritage Connection Of Bradford Inc Bradford, NH | $23,380 | $0 |