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← MAINE COMMUNITY FOUNDATION INC

Form 990 for tax year 2022

Filed by MAINE COMMUNITY FOUNDATION INC.

Totals

Total revenue
$52,365,869
Total expenses
$66,170,535
Contributions and grants received
$39,153,234
Grants paid
$54,447,763
Program service revenue
$1,126,365
Investment income
$12,086,270
Other revenue
$0
Total assets, end of year
$660,555,891
Total liabilities, end of year
$131,156,453
Net assets or fund balances, end of year
$529,399,438
Program services expenses (Part IX)
$56,526,930
Management and general expenses
$7,668,541
Fundraising expenses
$1,975,064
Program service expenses (Part III)
$56,526,930

Program services were 85.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $81,566

  • 1f · All other contributions, gifts and grants

    $39,071,668

  • 1g · Noncash contributions included above

    $6,032,684

  • 2a · Program service revenue: Fees for Services

    total $1,122,368 · related or exempt $1,122,368

  • 2b · Program service revenue: Other Programs

    total $3,997 · related or exempt $3,997

  • 3 · Investment income

    total $2,464,178 · unrelated business $737,921 · excluded $1,726,257

  • 7a · Gross sales of assets other than inventory

    securities $401,454,269

  • 7b · Less cost or other basis and sales expenses

    securities $391,832,177

  • 7c · Gain or loss

    securities $9,622,092

  • 7d · Net gain or loss

    total $9,622,092 · excluded $9,622,092

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $51,349,973 · program services $51,349,973

  • 2 · Grants to domestic individuals

    total $2,678,302 · program services $2,678,302

  • 3 · Grants to foreign organizations and individuals

    total $419,488 · program services $419,488

  • 5 · Compensation of officers, directors and key employees

    total $1,407,070 · program services $430,053 · management and general $590,153 · fundraising $386,864

  • 7 · Other salaries and wages

    total $2,996,701 · program services $915,903 · management and general $1,256,877 · fundraising $823,921

  • 8 · Pension plan contributions

    total $244,562 · program services $74,747 · management and general $102,574 · fundraising $67,241

  • 9 · Other employee benefits

    total $590,029 · program services $180,335 · management and general $247,470 · fundraising $162,224

  • 10 · Payroll taxes

    total $295,668 · program services $90,367 · management and general $124,009 · fundraising $81,292

  • 11b · Fees: legal

    total $13,086 · management and general $13,086

  • 11c · Fees: accounting

    total $47,000 · management and general $47,000

  • 11f · Fees: investment management

    total $4,433,128 · management and general $4,433,128

  • 11g · Fees: other

    total $535,674 · program services $108,576 · management and general $326,212 · fundraising $100,886

  • 12 · Advertising and promotion

    total $104,729 · program services $4,432 · management and general $2,477 · fundraising $97,820

  • 13 · Office expenses

    total $261,624 · program services $53,291 · management and general $151,156 · fundraising $57,177

  • 14 · Information technology

    total $196,543 · program services $60,071 · management and general $82,434 · fundraising $54,038

  • 16 · Occupancy

    total $218,500 · program services $66,782 · management and general $91,643 · fundraising $60,075

  • 17 · Travel

    total $76,922 · program services $10,227 · management and general $40,986 · fundraising $25,709

  • 19 · Conferences, conventions and meetings

    total $80,659 · program services $16,937 · management and general $51,430 · fundraising $12,292

  • 22 · Depreciation, depletion and amortization

    total $79,250 · management and general $79,250

  • 23 · Insurance

    total $68,323 · program services $20,882 · management and general $28,656 · fundraising $18,785

  • 24a · Other expenses: Special Programs

    total $61,304 · program services $34,564 · fundraising $26,740

  • 24b · Other expenses: PILOT

    total $12,000 · program services $12,000

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $300 · end of year $300

  • 2 · Savings and temporary cash investments

    beginning of year $101,478,623 · end of year $56,743,382

  • 7 · Other notes and loans receivable

    beginning of year $601,882 · end of year $213,980

  • 9 · Prepaid expenses and deferred charges

    beginning of year $230,486 · end of year $365,317

  • 10a · Land, buildings and equipment: cost or other basis

    $2,324,865

  • 10b · Land, buildings and equipment: accumulated depreciation

    $623,059

  • 10c · Land, buildings and equipment, net

    beginning of year $1,781,058 · end of year $1,701,806

  • 11 · Investments: publicly traded securities

    beginning of year $354,234,650 · end of year $315,732,814

  • 12 · Investments: other securities

    beginning of year $309,908,816 · end of year $281,354,743

  • 13 · Investments: program-related

    beginning of year $1,549,458 · end of year $1,222,029

  • 15 · Other assets

    beginning of year $5,891,729 · end of year $3,221,520

  • 17 · Accounts payable and accrued expenses

    beginning of year $173,769 · end of year $581,698

  • 18 · Grants payable

    beginning of year $405,000 · end of year $2,410,000

  • 25 · Other liabilities

    beginning of year $135,876,906 · end of year $128,164,755

  • 27 · Net assets without donor restrictions

    beginning of year $633,329,598 · end of year $526,177,918

  • 28 · Net assets with donor restrictions

    beginning of year $5,891,729 · end of year $3,221,520

Mission and programs · 2022

Mission

The Maine Community Foundation brings people and resources together to build a better Maine.

Activities or mission (Part I)

To bring people and resources together to build a better Maine.

  • Grantmaking. The Maine Community Foundation provides donors with many ways to strengthen Maine communities, including supporting individual nonprofits, scholarships, county funds, specific issues or changing needs. In 2022, the foundation provided over $54 million in grants supporting charitable organizations to address a number of issues including the environment, community economic development, racial equity, housing and food insecurity, education, health and wellbeing, and arts and culture.(Continued on Schedule O)The $54 million in grants paid in 2022 included more than $2.6 million in scholarships awarded to over 1200 recipients for professional development, and undergraduate and graduate studies. It also included $1.5 million in grants from the Maine Community Foundation Community Building program, which engages communities across Maine to provide resources to nonprofits from the foundation's endowed county funds. It also included the community leadership grants of $371 thousand to improve the quality of life for Maine people through partnerships with donors, nonprofits, institutions, and other community members to address the barriers that prevent Maine people from fully engaging in, and contributing to, Maine communities and the Maine economy.

    Expenses $56,526,930 · Grants $54,447,763 · Revenue $1,126,365

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Sarah Armentrout

    Director

    Total calculated
    $0
    Hours/week
    1

  • Brian Bernatchez

    Director

    Total calculated
    $0
    Hours/week
    1

  • Timothy Crowley

    Director

    Total calculated
    $0
    Hours/week
    1

  • Matthew P DuBois

    Director

    Total calculated
    $0
    Hours/week
    1

  • Martha Dumont

    Director

    Total calculated
    $0
    Hours/week
    1

  • Susan Hammond

    Director

    Total calculated
    $0
    Hours/week
    1 + 0.1 related

  • Mark Howard

    Director

    Total calculated
    $0
    Hours/week
    1

  • Deborah A Jordan

    Director

    Total calculated
    $0
    Hours/week
    1

  • Amber Lambke

    Director (eff 6/2022)

    Total calculated
    $0
    Hours/week
    1

  • Julie Mallet

    Director

    Total calculated
    $0
    Hours/week
    1

  • Brooke Parish

    Director

    Total calculated
    $0
    Hours/week
    1

  • Joan Lili Pew

    Director

    Total calculated
    $0
    Hours/week
    1

  • Matthew A Polstein

    Director (end 6/2022)

    Total calculated
    $0
    Hours/week
    1 + 0.1 related

  • Claude Rwaganje

    Director

    Total calculated
    $0
    Hours/week
    1

  • Tihtiyas Sabattus

    Director

    Total calculated
    $0
    Hours/week
    1

  • Benjamin Sprague

    Director

    Total calculated
    $0
    Hours/week
    1

  • Karen W Stanley

    Director (end 6/2022)

    Total calculated
    $0
    Hours/week
    1

  • Shawn Yardley

    Director (eff 6/2022)

    Total calculated
    $0
    Hours/week
    1

  • D Gregg Collins

    Chair/Director

    Total calculated
    $0
    Hours/week
    5

  • Adilah Muhammad

    Vice Chair/Director

    Total calculated
    $0
    Hours/week
    1

  • Jennifer Richard

    Clerk (eff 6/22); Dir. Gift Planning

    Total calculated
    $138,619
    From this org
    $109,704
    From related orgs
    $0
    Other
    $28,915
    Hours/week
    40 + 0.1 related

  • Chris Woods

    Secretary

    Total calculated
    $87,586
    From this org
    $72,529
    From related orgs
    $0
    Other
    $15,057
    Hours/week
    40

  • Sterling Speirn

    President/CEO/Ex Officio(end 6/2022)

    Total calculated
    $89,976
    From this org
    $82,707
    From related orgs
    $0
    Other
    $7,269
    Hours/week
    50 + 0.3 related

  • Deborah Ellwood

    President/CEO/Ex Officio(eff 7/2022)

    Total calculated
    $184,586
    From this org
    $171,577
    From related orgs
    $0
    Other
    $13,009
    Hours/week
    50 + 0.3 related

    Schedule J breakdown matched by us

    Base
    $144,782
    Bonus
    $0
    Other
    $26,795
    Deferred
    $11,895
    Nontaxable benefits
    $1,114
    Filer's total
    $184,586

  • Michele Camarco

    Treasurer/VP, CFO

    Total calculated
    $208,678
    From this org
    $180,419
    From related orgs
    $0
    Other
    $28,259
    Hours/week
    50 + 0.3 related

    Schedule J breakdown matched by us

    Base
    $178,410
    Bonus
    $0
    Other
    $2,009
    Deferred
    $16,416
    Nontaxable benefits
    $11,843
    Filer's total
    $208,678

  • Lelia DeAndrade

    VP, Community Impact

    Total calculated
    $170,726
    From this org
    $148,727
    From related orgs
    $0
    Other
    $21,999
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $146,764
    Bonus
    $0
    Other
    $1,963
    Deferred
    $13,438
    Nontaxable benefits
    $8,561
    Filer's total
    $170,726

  • Brendon Reay

    VP, Investments (eff 2/2022)

    Total calculated
    $165,459
    From this org
    $151,537
    From related orgs
    $0
    Other
    $13,922
    Hours/week
    50 + 0.1 related

    Schedule J breakdown matched by us

    Base
    $149,793
    Bonus
    $0
    Other
    $1,744
    Deferred
    $11,022
    Nontaxable benefits
    $2,900
    Filer's total
    $165,459

  • Jennifer Southard

    VP, Donor Services & Operations

    Total calculated
    $191,858
    From this org
    $157,306
    From related orgs
    $0
    Other
    $34,552
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $155,138
    Bonus
    $0
    Other
    $2,168
    Deferred
    $14,685
    Nontaxable benefits
    $19,867
    Filer's total
    $191,858

  • Laura Young

    VP, Philanthropy

    Total calculated
    $169,582
    From this org
    $143,047
    From related orgs
    $0
    Other
    $26,535
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $141,084
    Bonus
    $0
    Other
    $1,963
    Deferred
    $13,438
    Nontaxable benefits
    $13,097
    Filer's total
    $169,582

  • Sidney St F Thaxter

    Clerk (end 6/2022)

    Total calculated
    $0
    Hours/week
    1

  • Elena Sulima

    Director of Finance

    Total calculated
    $152,072
    From this org
    $121,925
    From related orgs
    $0
    Other
    $30,147
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $120,515
    Bonus
    $0
    Other
    $1,410
    Deferred
    $11,419
    Nontaxable benefits
    $18,728
    Filer's total
    $152,072

  • Liana Kingsbury

    Director, Non-Profit Agency Funds

    Total calculated
    $129,542
    From this org
    $108,588
    From related orgs
    $0
    Other
    $20,954
    Hours/week
    40

  • Cherie Gaylen

    Director, Strategic Learning

    Total calculated
    $133,669
    From this org
    $105,046
    From related orgs
    $0
    Other
    $28,623
    Hours/week
    40

  • Laura Lee

    Director, Grantmaking

    Total calculated
    $133,145
    From this org
    $104,334
    From related orgs
    $0
    Other
    $28,811
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • Andrew Marshall Charitable Remainder Unitrust

    T · Charitable Remainder Trust · ME · 100% owned · share of assets $180,268

    Directly controlled by Maine Community Foundation

  • David K Silverman Charitable Remainder Unitrust

    T · Charitable Remainder Trust · ME · 100% owned · share of assets $395,203

    Directly controlled by Maine Community Foundation

  • Mary S Marshal Charitable Remainder Unitrust

    T · Charitable Remainder Trust · ME · 100% owned · share of assets $1,098,520

    Directly controlled by Maine Community Foundation

  • Rachel Samsel Charitable Remainder Unitrust

    T · Charitable Remainder Trust · ME · 100% owned · share of assets $134,186

    Directly controlled by Maine Community Foundation

  • Richard J McGoldrick Charitable Remainder Annuity Trust 2019

    T · Charitable Remainder Trust · ME · 100% owned

    Directly controlled by Maine Community Foundation

  • Roger A Fessaguet 2013 Charitable Remainder Trust No 1

    T · Charitable Remainder Trust · ME · 100% owned · share of assets $301,555

    Directly controlled by Maine Community Foundation

  • Roger A Fessaguet 2013 Charitable Remainder Trust No 2

    T · Charitable Remainder Trust · ME · 100% owned · share of assets $93,555

    Directly controlled by Maine Community Foundation

  • Sedgwick Charitable Remainder Trust

    T · Charitable Remainder Trust · ME · 100% owned · share of assets $22,282

    Directly controlled by Maine Community Foundation

  • Stanley N Marshall III Charitable Remainder Unitrust

    T · Charitable Remainder Trust · ME · 100% owned · share of assets $187,028

    Directly controlled by Maine Community Foundation

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202323079349302647

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