Main Street Skowhegan
- Assets
- $357.3k
- Revenue
- $771.4k
- Investments
- $0.0
- Employees
- 6
- Location
- Skowhegan, ME
- Founding
- 05/2008
- Data as of
- 12/2021
- EIN
- 84-1714173
Organization Overview
Main Street Skowhegan is located in Skowhegan, ME. The organization was established in 2008. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Main Street Skowhegan employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Main Street Skowhegan 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 12/2021, Main Street Skowhegan generated $771.4k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 32.3% each year . All expenses for the organization totaled $770.7k during the year ending 12/2021. While expenses have increased by 31.4% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO CELEBRATE SKOWHEGAN'S RICH HERITAGE WHILE ACHIEVING THE BRIGHTEST FUTURE AS A THRIVING ECONOMIC, CULTURAL, AND RECREATIONAL COMMUNITY WHERE RESIDENTS ENJOY A HIGH QUALITY OF LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAMS AND EVENTS CELEBRATING SKOWHEGAN'S RICH HERITAGE WHILE PROMOTING THE ECONOMIC, CULTURAL AND RECREATIONAL COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kristina Cannon Executive Director | Officer | 40 | $72,000 |
Brandi Meisner Vice President | OfficerTrustee | 2 | $0 |
Matt Dubois President | OfficerTrustee | 5 | $0 |
Mike Dubois Treasurer | OfficerTrustee | 2 | $0 |
Lisa Caswell Secretary | OfficerTrustee | 2 | $0 |
Margi Johnston-Browne Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $248,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $387,408 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $635,408 |
| Total Program Service Revenue | $79,469 |
| Investment income | $6,542 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $23,125 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $4,695 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $771,437 |
| 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. | $72,000 |
| Compensation of current officers, directors, key employees. | $20,160 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,329 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,400 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,630 |
| Advertising and promotion | $13,358 |
| Office expenses | $6,411 |
| Information technology | $4,272 |
| Royalties | $0 |
| Occupancy | $33,900 |
| Travel | $3,625 |
| 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 | $0 |
| Insurance | $8,799 |
| All other expenses | $18,014 |
| Total functional expenses | $770,650 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $180,069 |
| Savings and temporary cash investments | $5,859 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $26,167 |
| 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 | $7,500 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $137,690 |
| Total assets | $357,285 |
| Accounts payable and accrued expenses | $8,685 |
| 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 | $8,685 |
| Net assets without donor restrictions | $168,782 |
| Net assets with donor restrictions | $179,818 |
| 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 | $357,285 |
Grants Awarded
Over the last fiscal year, Main Street Skowhegan has awarded $196,968 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
RUN OF RIVER | | | $99,625 |
MAINE GRAINS | | | $73,500 |
RIVERFEST | | | $23,843 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Main Street Skowhegan has recieved totaling $98,534.
| Awarding Organization | Amount |
|---|---|
Maine Community Foundation Inc Ellsworth, ME PURPOSE: Economic Development, Entrepreneurial Assistance | $54,600 |
Skowhegan Savings Charitable Foundation Skowhegan, ME PURPOSE: SKOWHEGAN BUSINESS CENTER | $20,000 |
Onion Foundation Wayne, ME PURPOSE: GENERAL PURPOSE | $16,500 |
Franklin Savings Bank Community Development Foundation Farmington, ME PURPOSE: GENERAL OPERATING SUPPORT | $7,250 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $184 |
Endowment Analysis
| Beg. Balance | $51,009 |
| Earnings | $29,350 |
| Admin Expense | $2,544 |
| Net Contributions | $60,000 |
| Other Expense | $1,625 |
| Ending Balance | $136,190 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Eastern Maine Development Corporation Bangor, ME | $11,518,769 | $64,676,194 |
Northern Maine Development Commission Inc Caribou, ME | $20,810,299 | $32,269,814 |
Granite State Economic Development Corp Portsmouth, NH | $20,832,618 | $9,324,758 |
Maine Development Foundation Hallowell, ME | $970,799 | $2,681,444 |
Maine Tourism Association Hallowell, ME | $2,552,212 | $2,806,092 |
Maine Manufacturing Extension Partnership Augusta, ME | $1,279,245 | $1,939,009 |
Rockingham Economic Development Corporation Raymond, NH | $17,369,754 | $4,323,565 |
Kennebec Valley Council Of Governments Fairfield, ME | $3,745,709 | $1,561,553 |
Main Street Skowhegan Skowhegan, ME | $357,285 | $771,437 |
Convention Visitors Bureau Of Greater Portland Portland, ME | $563,151 | $741,115 |
Walpole Foundation Walpole, NH | $9,906,634 | $599,898 |
New Hampshire Lodging And Resturant Association Concord, NH | $788,383 | $690,976 |