University Of Southern Maine Foundation
- Assets
- $57.8m
- Revenue
- $9.9m
- Investments
- $32.0m
- Employees
- 29
- Location
- Portland, ME
- Founding
- 11/2000
- Data as of
- 06/2023
- EIN
- 04-3350930
Organization Overview
University Of Southern Maine Foundation is located in Portland, ME. The organization was established in 2000. According to its NTEE Classification (T50) the organization is classified as: Philanthropy, Charity & Voluntarism Promotion, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 06/2023, University Of Southern Maine Foundation employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Of Southern Maine Foundation 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 06/2023, University Of Southern Maine Foundation generated $9.9m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 15.2% each year . All expenses for the organization totaled $8.2m during the year ending 06/2023. While expenses have increased by 22.2% per year over the past 8 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 2015, University Of Southern Maine Foundation has awarded 37 individual grants totaling $29,586,478. 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
SUPPORT FOR THE UNIVERSITY OF SOUTHERN MAINE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CLOSED THE GREAT UNIVERSITY CAMPAIGN, HAVING RAISED $50 MILLION FOR CONSTRUCTION OF THE NEW MCGOLDRICK CENTER FOR CAREER & STUDENT SUCCESS AND THE IN-PROGRESS CREWE CENTER FOR THE ARTS, AND FOR THE UNIVERSITY'S PROGRAMS AND STUDENT SCHOLARSHIPS. SOLICITED AND RECEIVED DONATIONS TO ENDOW THE AVANGRID DAVID FLANAGAN ENDOWED PROFESSORSHIP AND THE GOLDWORTH/PHILBRICK ENDOWED SCHOLARSHIP FOR NURSING, AND TO ESTABLISH THE AVANGRID DAVID FLANAGAN MEMORIAL ENDOWED SCHOLARSHIP IN SUSTAINABILITY. CONTINUED TO INVEST ENDOWMENTS PRUDENTLY AND RESPONSIBLY IN ORDER TO PROVIDE INCOME FOR SCHOLARSHIPS, PROFESSORSHIPS, STAFF DEVELOPMENT AND OPERATIONS, WHICH ALL BENEFIT THE UNIVERSITY OF SOUTHERN MAINE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Crewe Chair | OfficerTrustee | 2 | $0 |
Stephen Decastro Vice Chair | OfficerTrustee | 2 | $0 |
Timothy Griffin Treasurer | OfficerTrustee | 1 | $0 |
Todd Chamberlain Secretary | OfficerTrustee | 2 | $0 |
Justin Alfond Director | Trustee | 1 | $0 |
Kenneth A Blaschke Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,684,810 |
| Noncash contributions included in lines 1a–1f | $606,001 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,684,810 |
| Total Program Service Revenue | $2,159,870 |
| Investment income | $1,027,454 |
| 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 | $9,872,134 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,220,695 |
| 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. | $219,474 |
| Compensation of current officers, directors, key employees. | $77,891 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,386,175 |
| Pension plan accruals and contributions | $87,720 |
| Other employee benefits | $344,412 |
| Payroll taxes | $125,473 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,021 |
| Fees for services: Accounting | $19,610 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $399,763 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $50,009 |
| Advertising and promotion | $111,886 |
| Office expenses | $56,185 |
| Information technology | $39,417 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $11,456 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,609 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,890 |
| All other expenses | $98,292 |
| Total functional expenses | $8,194,087 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $15,252,682 |
| Pledges and grants receivable | $10,226,954 |
| Accounts receivable, net | $240,150 |
| 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 | $31,951,349 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $121,511 |
| Total assets | $57,792,646 |
| Accounts payable and accrued expenses | $50,308 |
| 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 | $50,308 |
| Net assets without donor restrictions | $857,931 |
| Net assets with donor restrictions | $56,884,407 |
| 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 | $57,792,646 |
Grants Awarded
Over the last fiscal year, University Of Southern Maine Foundation has awarded $5,220,695 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF SOUTHERN MAINE PURPOSE: USM programs & capital projects | $4,204,520 |
USM OSHER MAP LIBRARY FOUNDATION PURPOSE: Osher Map Library Collection | $15,240 |
UNIVERSITY OF SOUTHERN MAINE PURPOSE: Endowment income gifted to USM | $1,000,935 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Southern Maine Foundation Portland, ME | $57,792,646 | $9,872,134 |
Milford Rotary Club Foundation Milford, NH | $887,329 | $269,972 |
Seacoast Womens Giving Circle Portsmouth, NH | $46,640 | $0 |
African Educate Keene, NH | $522,335 | $102,293 |
Sunapee Heritage Alliance Sunapee, NH | $885,029 | $107,459 |
C Leroy Miller Charitable Foundation Bedford, NH | $977,245 | $38,926 |
Salisbury Haunted Woods Salisbury, NH | $6,635 | $0 |
Souhegan Valley Happy Hour Rotary Club Foundation Nashua, NH | $246,469 | $0 |
Raymond & Madalin Beaton Charitable Trust 20-004530 Manchester, NH | $300,832 | -$9,414 |
John W Mckeen Tr Uw Bridgton, ME | $353,728 | $0 |
Mutt Society Corp Salem, NH | $5,625 | $0 |
Billy Cunningham Memorial Foundation New London, NH | $60,749 | $0 |
Twenty Seventeen Charitable Tr Winterport, ME | $9,123 | $384 |
Front Door Foundation Manchester, NH | $0 | $0 |