Form 990 for tax year 2023
Filed by NORTHERN MAINE DEVELOPMENT COMMISSION INC.
Totals
- Total revenue
- $10,161,030
- Total expenses
- $5,122,717
- Contributions and grants received
- $7,105,951
- Grants paid
- $0
- Program service revenue
- $1,340,059
- Investment income
- $57,932
- Other revenue
- $1,657,088
- Total assets, end of year
- $34,456,074
- Total liabilities, end of year
- $10,511,654
- Net assets or fund balances, end of year
- $23,944,420
- Program services expenses (Part IX)
- $5,024,543
- Management and general expenses
- $98,174
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $5,024,543
Program services were 98.1% 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.
-
1b · Membership dues
$119,083
-
1e · Government grants (contributions)
$6,986,868
-
2a · Program service revenue: Interest Earned on Loan Funds
total $1,231,135 · related or exempt $1,231,135
-
2b · Program service revenue: Financial Services
total $103,924 · related or exempt $103,924
-
2c · Program service revenue: Contract Income
total $5,000 · related or exempt $5,000
-
3 · Investment income
total $57,932 · excluded $57,932
-
11a · Other revenue: Pass Through
total $3,000 · related or exempt $3,000
-
11d · All other revenue
total $1,654,088 · related or exempt $1,654,088
-
11e · Other revenue, total
$1,657,088
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $0
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $1,883,331 · program services $1,883,331
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $0
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $0
-
11d · Fees: lobbying
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $30,055 · program services $30,055
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $1,246,576 · program services $1,246,576
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $0
-
17 · Travel
total $50,692 · program services $50,692
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $153,352 · program services $111,455 · management and general $41,897
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $56,277 · management and general $56,277
-
23 · Insurance
total $0
-
24a · Other expenses: Direct Program Expenses
total $1,521,192 · program services $1,521,192
-
24b · Other expenses: Loan Losses recoveries
total $13,449 · program services $13,449
-
24c · Other expenses: Pass Through
total $11,068 · program services $11,068
-
24e · All other expenses
total $156,725 · program services $156,725
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
end of year $3,372,198
-
2 · Savings and temporary cash investments
beginning of year $2,684,856
-
4 · Accounts receivable
beginning of year $120,983 · end of year $87,810
-
7 · Other notes and loans receivable
beginning of year $24,090,832 · end of year $30,734,482
-
9 · Prepaid expenses and deferred charges
beginning of year $37,789
-
10a · Land, buildings and equipment: cost or other basis
$2,280,851
-
10b · Land, buildings and equipment: accumulated depreciation
$2,019,267
-
10c · Land, buildings and equipment, net
beginning of year $351,735 · end of year $261,584
-
17 · Accounts payable and accrued expenses
beginning of year $710,701 · end of year $650,071
-
19 · Deferred revenue
beginning of year $251,856 · end of year $251,856
-
23 · Secured mortgages and notes payable
beginning of year $7,417,531 · end of year $9,609,727
-
27 · Net assets without donor restrictions
beginning of year $418,954 · end of year $594,624
-
28 · Net assets with donor restrictions
beginning of year $18,487,153 · end of year $23,349,796
Mission and programs · 2023
Mission
To serve the northern Maine region with effective regional community planning and economic development.
-
Other Grants- Various marketing and development grants which all enhance the image of Northern Maine, and to develop a strong agriculture and manufacturing business image. Beginning in FY21 this program also facilitated Maine Economic Recovery Grants to small businesses through the Coronavirus Relief Funds federal award program.
Expenses $3,530,883
-
Community Fund- Provides support for all the areas of program services to the Agency.
Expenses $117,698
-
Revolving Loan Fund- Financing to local businesses involved in agriculture or manufacturing, to assist in the creation of jobs and strengthen the economy in Northern Maine.
Expenses $1,375,962
As filed on the 2023 return.
Listed in Part VII
-
Robert Clark
Executive Director
- Total calculated
- $152,296
- From this org
- $152,296
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Sandra Fournier
Director
- Total calculated
- $0
- Hours/week
- 1
-
Norman Fournier
Treasurer
- Total calculated
- $0
- Hours/week
- 1
-
Kelly Garrison
Director
- Total calculated
- $0
- Hours/week
- 1
-
Cheryl Clark
Director
- Total calculated
- $0
- Hours/week
- 1
-
Michelle Bernier
Vice Chair
- Total calculated
- $0
- Hours/week
- 1
-
Kevin Freeman
Director
- Total calculated
- $0
- Hours/week
- 1
-
Max Lynds
Director
- Total calculated
- $0
- Hours/week
- 1
-
David Cyr
Director
- Total calculated
- $0
- Hours/week
- 1
-
Cyr Martin
Director
- Total calculated
- $0
- Hours/week
- 1
-
Suzie Paradis
Treasurer
- Total calculated
- $0
- Hours/week
- 1
-
Royden Hunt
Director
- Total calculated
- $0
- Hours/week
- 1
-
Steve Pelletier
Chairperson
- Total calculated
- $0
- Hours/week
- 1
-
Tim Goff
Director
- Total calculated
- $0
- Hours/week
- 1
-
Patricia Sutherland
Director
- Total calculated
- $0
- Hours/week
- 1
-
Donna Turner
Director
- Total calculated
- $0
- Hours/week
- 1
-
Penny Thompson
Director
- Total calculated
- $0
- Hours/week
- 1
-
Lana Voisine
Secretary
- Total calculated
- $0
- Hours/week
- 1
-
Martin Dionne
Director
- Total calculated
- $0
- Hours/week
- 1
-
Vann White
Director
- Total calculated
- $0
- Hours/week
- 1
-
Kim Denbow
Director
- Total calculated
- $0
- Hours/week
- 1
-
William Dobbins
Director
- Total calculated
- $0
- Hours/week
- 1
-
Luke Dyer
Director
- Total calculated
- $0
- Hours/week
- 1
-
James Gehring
Director
- Total calculated
- $0
- Hours/week
- 1
-
Alan Mulherin
Director
- Total calculated
- $0
- Hours/week
- 1
-
John Sutherland
Director
- Total calculated
- $0
- Hours/week
- 1
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.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 2 May 2025
- IRS schema version
- 2023v6.0
- Source object
- 202521229349300922
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