Loon Echo Land Trust Inc
- Assets
- $10.6m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 18
- Location
- Bridgton, ME
- Founding
- 01/1990
- Data as of
- 12/2023
- EIN
- 22-2966924
Organization Overview
Loon Echo Land Trust Inc is located in Bridgton, ME. The organization was established in 1990. According to its NTEE Classification (C34) the organization is classified as: Land Resources Conservation, under the broad grouping of Environment and related organizations. As of 12/2023, Loon Echo Land Trust Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Loon Echo Land 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 12/2023, Loon Echo Land Trust Inc generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.9% each year . All expenses for the organization totaled $1.5m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
LOON ECHO LAND TRUST PROTECTS LAND IN THE NORTHERN SEBAGO LAKE REGION TO CONSERVE ITS NATURAL RESOURCES AND CHARACTER FOR FUTURE GENERATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MANAGEMENT MAINTENANCE OF PARCELS OF LAND OWNED BY THE TRUST OR FOR WHICH THE TRUST HOLDS EASEMENTS. ONGOING EFFORTS TO IDENTIFY LAND AREAS TO BE PRESERVED AND / OR PUT UNDER CONSERVATION EASEMENT.
EXPENSES ASSOCIATED WITH ACQUISITION AND STEWARDSHIP OF LAND FOR PRESERVATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew Markot Exceutive Director | Officer | 40 | $76,719 |
Sheila Bourque President | OfficerTrustee | 3 | $0 |
Steven Mortimer Vice President | OfficerTrustee | 3 | $0 |
Robert Gowdy Treasurer | OfficerTrustee | 3 | $0 |
Quincy Van Winkle Secretary | OfficerTrustee | 3 | $0 |
Connie Cross Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $147,758 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,580,630 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,728,388 |
| Total Program Service Revenue | $0 |
| Investment income | $81,660 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $35,532 |
| Net Gain/Loss on Asset Sales | $60,155 |
| Net Income from Fundraising Events | $9,442 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,922,704 |
| 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. | $76,719 |
| Compensation of current officers, directors, key employees. | $19,180 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $268,234 |
| Pension plan accruals and contributions | $17,447 |
| Other employee benefits | $17,756 |
| Payroll taxes | $27,851 |
| Fees for services: Management | $82,426 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,866 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $14,460 |
| Fees for services: Other | $33,232 |
| Advertising and promotion | $604 |
| Office expenses | $39,676 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $19,920 |
| Travel | $4,350 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,732 |
| Insurance | $15,018 |
| All other expenses | $9,258 |
| Total functional expenses | $1,504,799 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $107,999 |
| Savings and temporary cash investments | $907,029 |
| 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 | $7,649,071 |
| Investments—publicly traded securities | $1,967,064 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,631,163 |
| 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 | $200,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $200,000 |
| Net assets without donor restrictions | $1,386,928 |
| Net assets with donor restrictions | $9,044,235 |
| 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 | $10,631,163 |