Maine Farmland Trust Inc
- Assets
- $28.4m
- Revenue
- $4.2m
- Investments
- $2.4m
- Employees
- 0
- Location
- Belfast, ME
- Founding
- 07/2004
- Data as of
- 09/2023
- 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. 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 09/2023, Maine Farmland Trust Inc generated $4.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (13.8%) each year. All expenses for the organization totaled $5.4m during the year ending 09/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Maine Farmland Trust Inc has awarded 81 individual grants totaling $2,561,495. 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
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 PERMANENTLY PROTECTED FARMLAND THROUGH ACCEPTANCE OF DONATED AGRICULTURAL CONSERVATION EASEMENTS, PURCHASE OF AGRICULTURAL CONSERVATION EASEMENTS, AND PURCHASE, PROTECTION, AND RESALE OF FARMS. THIS PERIOD, MFT COMPLETED 8 LAND PROTECTION PROJECTS, PROTECTING 856 ACRES OF LAND.
FARMLAND ACCESS COLLABORATED WITH EXTERNAL PARTNERS TO ADDRESS SYSTEMIC AND INDIVIDUAL FARMLAND ACCESS AND TRANSFER CHALLENGES. OPERATED FARMLINK, WHICH MATCHES PROSPECTIVE FARMERS WITH LANDOWNERS THAT HAVE FARMS AVAILABLE FOR LEASE OR SALE. THIS PERIOD, OUR FARMLINK PROGRAM ASSURED THAT 92 ACRES OF TRANSITIONING FARMLAND REMAINED IN FARMING THROUGH FARM LINKS TO NEW FARMERS. (247,569 EXPENSES) CLIMATE AND SOIL HEALTH ORGANIZED A PEER-TO-PEER NETWORK OF MAINE FARMERS THAT SUPPORTED FARMS PROTECTED WITH AN MFT EASEMENT IN BUILDING SOIL HEALTH THROUGH ON-FARM RESEARCH, EDUCATION AND TECHNICAL EXPERTISE, AND FINANCIAL SUPPORT. THIS PERIOD, TECHNICAL ASSISTANCE WAS DELIVERED TO 46 FARM BUSINESSES PARTICIPATING IN OUR CLIMATE RESILIENCE PROGRAMMING. (164,926 EXPENSES) PFAS RESPONSE DIRECTLY SUPPORTED FARMERS AFFECTED BY PFAS BY PROVIDING EDUCATION, TECHNICAL ASSISTANCE, AND GRANTS TO SUPPORT FARMS AFFECTED BY PFAS. APPROXIMATELY 26 FARMS WERE DIRECTLY SUPPORTED DURING THE PERIOD. (80,652 EXPENSES) POLICY & RESEARCH 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. (304,212 EXPENSES) EDUCATION & OUTREACH 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. (363,097 EXPENSES)
FARMLAND BUSINESS PLANNING DIRECTLY SUPPORTED FARMERS WITH BUSINESS PLANNING, OFFERING TRAINING AND TECHNICAL ASSISTANCE TO FARMERS. THIS PERIOD, OUR FARM BUSINESS PLANNING PROGRAM SERVED 58 FARMS BUSINESSES THROUGH WORKSHOPS, TECHNICAL ASSISTANCE, AND GRANTS.
THE STEWARDSHIP PROGRAM IS RESPONSIBLE FOR MONITORING PROTECTED FARMLAND TO ENSURE THAT THE CONSERVATION VALUES OF THE PROPERTY ARE PROTECTED FOREVER. THIS PERIOD, MFT COMPLETED ANNUAL EASEMENT MONITORING FOR 281 EASEMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nick Armentrout Director | Trustee | 2 | $0 |
Jason Bolton Director | Trustee | 1 | $0 |
Dave Colson Vice Chair | OfficerTrustee | 4 | $0 |
Steve Crane Director | Trustee | 1.5 | $0 |
Meredith Eilers Chair | OfficerTrustee | 4 | $0 |
Caitlyn Frame Director | Trustee | 1.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $80,572 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,895,896 |
| Noncash contributions included in lines 1a–1f | $66,146 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,976,468 |
| Total Program Service Revenue | $2,099 |
| Investment income | $240,646 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$393 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,221,079 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $233,700 |
| 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. | $267,388 |
| Compensation of current officers, directors, key employees. | $35,658 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,932,375 |
| Pension plan accruals and contributions | $48,174 |
| Other employee benefits | $153,872 |
| Payroll taxes | $159,065 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $137,301 |
| Fees for services: Accounting | $32,698 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $160,426 |
| Advertising and promotion | $14,827 |
| Office expenses | $51,989 |
| Information technology | $89,253 |
| Royalties | $0 |
| Occupancy | $81,467 |
| Travel | $71,093 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $10,524 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $31,162 |
| Insurance | $28,072 |
| All other expenses | $242,224 |
| Total functional expenses | $5,419,196 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $247,389 |
| Savings and temporary cash investments | $7,700,016 |
| Pledges and grants receivable | $1,445,079 |
| Accounts receivable, net | $242,109 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $755,969 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $46,290 |
| Net Land, buildings, and equipment | $1,192,039 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,404,980 |
| Investments—program-related | $0 |
| Intangible assets | $73,412 |
| Other assets | $14,262,855 |
| Total assets | $28,370,138 |
| Accounts payable and accrued expenses | $585,558 |
| 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 | $680,185 |
| Unsecured mortgages and notes payable | $804,990 |
| Other liabilities | $6,325 |
| Total liabilities | $2,077,058 |
| Net assets without donor restrictions | $20,217,731 |
| Net assets with donor restrictions | $6,075,349 |
| 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 | $28,370,138 |
Grants Awarded
Over the last fiscal year, Maine Farmland Trust Inc has awarded $226,700 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
SAP HOUND MAPLE COMPANY PURPOSE: IMPLEMENTATION | $65,000 |
BALFOUR FARM PURPOSE: IMPLEMENTATION | $65,000 |
DHARMA FARM PURPOSE: IMPLEMENTATION | $46,700 |
BAHNER FARM PURPOSE: IMPLEMENTATION | $50,000 |