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Nonprofiteer
← MAINE COMMUNITY FOUNDATION INC

Form 990 for tax year 2024

Filed by MAINE COMMUNITY FOUNDATION INC.

Totals

Total revenue
$138,801,505
Total expenses
$82,278,801
Contributions and grants received
$77,106,666
Grants paid
$68,027,345
Program service revenue
$1,286,822
Investment income
$60,408,017
Other revenue
$0
Total assets, end of year
$807,558,442
Total liabilities, end of year
$155,309,854
Net assets or fund balances, end of year
$652,248,588
Program services expenses (Part IX)
$70,864,822
Management and general expenses
$7,768,417
Fundraising expenses
$3,645,562
Program service expenses (Part III)
$70,864,822

Program services were 86.1% 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.

  • 1e · Government grants (contributions)

    $43,416

  • 1f · All other contributions, gifts and grants

    $77,063,250

  • 1g · Noncash contributions included above

    $16,401,470

  • 2a · Program service revenue: Fees for Services

    total $1,286,822 · related or exempt $1,286,822

  • 3 · Investment income

    total $5,685,326 · unrelated business $701,675 · excluded $4,983,651

  • 7a · Gross sales of assets other than inventory

    securities $576,172,124

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

    securities $521,449,433

  • 7c · Gain or loss

    securities $54,722,691

  • 7d · Net gain or loss

    total $54,722,691 · excluded $54,722,691

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $59,969,634 · program services $59,969,634

  • 2 · Grants to domestic individuals

    total $8,005,711 · program services $8,005,711

  • 3 · Grants to foreign organizations and individuals

    total $52,000 · program services $52,000

  • 5 · Compensation of officers, directors and key employees

    total $1,637,962 · program services $447,164 · management and general $547,243 · fundraising $643,555

  • 7 · Other salaries and wages

    total $3,923,539 · program services $1,071,166 · management and general $1,310,601 · fundraising $1,541,772

  • 8 · Pension plan contributions

    total $332,180 · program services $90,689 · management and general $110,960 · fundraising $130,531

  • 9 · Other employee benefits

    total $799,268 · program services $218,207 · management and general $266,994 · fundraising $314,067

  • 10 · Payroll taxes

    total $394,068 · program services $107,584 · management and general $131,639 · fundraising $154,845

  • 11b · Fees: legal

    total $40,689 · management and general $40,689

  • 11c · Fees: accounting

    total $51,000 · management and general $51,000

  • 11f · Fees: investment management

    total $4,288,830 · management and general $4,288,830

  • 11g · Fees: other

    total $827,652 · program services $465,686 · management and general $187,640 · fundraising $174,326

  • 12 · Advertising and promotion

    total $117,920 · fundraising $117,920

  • 13 · Office expenses

    total $363,615 · program services $39,810 · management and general $235,287 · fundraising $88,518

  • 14 · Information technology

    total $643,951 · program services $175,803 · management and general $215,114 · fundraising $253,034

  • 16 · Occupancy

    total $235,559 · program services $64,309 · management and general $78,689 · fundraising $92,561

  • 17 · Travel

    total $212,032 · program services $39,136 · management and general $103,627 · fundraising $69,269

  • 19 · Conferences, conventions and meetings

    total $131,099 · program services $11,242 · management and general $93,888 · fundraising $25,969

  • 22 · Depreciation, depletion and amortization

    total $73,199 · management and general $73,199

  • 23 · Insurance

    total $73,989 · program services $20,200 · management and general $24,716 · fundraising $29,073

  • 24a · Other expenses: Special Programs

    total $92,904 · program services $74,481 · management and general $8,301 · fundraising $10,122

  • 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 $84,691,381 · end of year $48,154,417

  • 9 · Prepaid expenses and deferred charges

    beginning of year $313,837 · end of year $523,743

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

    $2,298,401

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

    $691,748

  • 10c · Land, buildings and equipment, net

    beginning of year $1,662,205 · end of year $1,606,653

  • 11 · Investments: publicly traded securities

    beginning of year $340,484,028 · end of year $461,138,789

  • 12 · Investments: other securities

    beginning of year $299,666,806 · end of year $291,134,167

  • 13 · Investments: program-related

    beginning of year $1,081,186 · end of year $510,086

  • 14 · Intangible assets

    beginning of year $835,883 · end of year $745,448

  • 15 · Other assets

    beginning of year $3,504,909 · end of year $3,744,839

  • 17 · Accounts payable and accrued expenses

    beginning of year $796,934 · end of year $871,511

  • 18 · Grants payable

    beginning of year $1,240,000 · end of year $175,885

  • 25 · Other liabilities

    beginning of year $149,216,276 · end of year $154,262,458

  • 27 · Net assets without donor restrictions

    beginning of year $572,551,590 · end of year $648,503,749

  • 28 · Net assets with donor restrictions

    beginning of year $8,435,735 · end of year $3,744,839

Mission and programs · 2024

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. Maine Community Foundation (MaineCF, the Foundation) envisions a Maine that is a vibrant and equitable place where people and communities thrive. MaineCF strives to achieve this vision throughout all its programs and services. MaineCF partners with donors to accomplish their philanthropic goals in Maine by connecting them and their resources to opportunities in nonprofits, investments, and partnerships that strive to build a better Maine. The Foundation also works with nonprofit organizations, communities, government, and private sector leaders to address the significant issues that are important to people in Maine. Specifically, MaineCF holds more than 460 donor advised funds, 700+ scholarships, nearly 300 funds invested on behalf of nonprofits and 16 competitive grant programs all with the goal of meeting our vision of a vibrant and equitable Maine.In 2024, the Foundation provided more than $68 million in grants supporting charitable organizations to address several issues including climate, housing, economic opportunity, just and fair access to opportunities for all people and many more areas of focus. The $68 million in grants awarded in 2024 included $3 million in scholarships awarded to over 1,400 recipients for professional development, and undergraduate and graduate studies. It also included over 200 grants totaling $1.97 million 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. Furthermore, grants given directly from donor advised funds through MaineCF's Giving Together program added 63 more grants and $343,824 to MaineCF's largest single competitive grant program.

    Expenses $70,864,822 · Grants $68,027,345 · Revenue $1,286,822

As filed on the 2024 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

  • D Gregg Collins

    Director (end 6/2024)

    Total calculated
    $0
    Hours/week
    1

  • Timothy Crowley

    Director (end 6/2024)

    Total calculated
    $0
    Hours/week
    1

  • Scot Drager

    Director (start 6/2024)

    Total calculated
    $0
    Hours/week
    1

  • Matthew P DuBois

    Director (end 5/2024)

    Total calculated
    $0
    Hours/week
    1

  • Martha Dumont

    Director (end 6/2024)

    Total calculated
    $0
    Hours/week
    1

  • Susan Hammond

    Director

    Total calculated
    $0
    Hours/week
    1

  • Mark Howard

    Director

    Total calculated
    $0
    Hours/week
    1

  • Deborah A Jordan

    Director (end 6/2024)

    Total calculated
    $0
    Hours/week
    1

  • Ingrid Kiefer

    Director (start 6/2024)

    Total calculated
    $0
    Hours/week
    1

  • Amber Lambke

    Director

    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

  • Alistair Raymond

    Director (start 6/2024)

    Total calculated
    $0
    Hours/week
    1

  • Ray Rice

    Director (start 6/2024)

    Total calculated
    $0
    Hours/week
    1

  • Claude Rwaganje

    Director

    Total calculated
    $0
    Hours/week
    1

  • Tihtiyas Sabattus

    Director

    Total calculated
    $0
    Hours/week
    1

  • Shawn Yardley

    Director

    Total calculated
    $0
    Hours/week
    1

  • Adilah Muhammad

    Chair/Director

    Total calculated
    $0
    Hours/week
    5

  • Benjamin Sprague

    Vice Chair/Director

    Total calculated
    $0
    Hours/week
    1

  • Jennifer Richard

    Clerk; Director of Gift Planning

    Total calculated
    $155,050
    From this org
    $122,163
    From related orgs
    $0
    Other
    $32,887
    Hours/week
    37.5 + 0.1 related

    Schedule J breakdown matched by us

    Base
    $117,562
    Bonus
    $3,000
    Other
    $1,601
    Deferred
    $11,250
    Nontaxable benefits
    $21,637
    Filer's total
    $155,050

  • Emily Baer

    Secretary/Asst. to Pres. (end 5/24)

    Total calculated
    $39,366
    From this org
    $32,768
    From related orgs
    $0
    Other
    $6,598
    Hours/week
    37.5

  • Deborah Ellwood

    President/CEO/Ex Officio

    Total calculated
    $366,339
    From this org
    $333,904
    From related orgs
    $0
    Other
    $32,435
    Hours/week
    50 + 0.3 related

    Schedule J breakdown matched by us

    Base
    $330,049
    Bonus
    $0
    Other
    $3,855
    Deferred
    $28,374
    Nontaxable benefits
    $4,061
    Filer's total
    $366,339

  • Michele Camarco

    Treasurer/VP, CFO (end 10/2024)

    Total calculated
    $214,422
    From this org
    $188,011
    From related orgs
    $0
    Other
    $26,411
    Hours/week
    50 + 0.3 related

    Schedule J breakdown matched by us

    Base
    $186,141
    Bonus
    $0
    Other
    $1,870
    Deferred
    $14,902
    Nontaxable benefits
    $11,509
    Filer's total
    $214,422

  • Brendon Reay

    Treasurer/VP, CFO/CIO

    Total calculated
    $249,679
    From this org
    $232,603
    From related orgs
    $0
    Other
    $17,076
    Hours/week
    50 + 0.3 related

    Schedule J breakdown matched by us

    Base
    $210,077
    Bonus
    $20,000
    Other
    $2,526
    Deferred
    $13,500
    Nontaxable benefits
    $3,576
    Filer's total
    $249,679

  • Laura Lee

    VP, Community Impact

    Total calculated
    $202,068
    From this org
    $164,950
    From related orgs
    $0
    Other
    $37,118
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $163,047
    Bonus
    $0
    Other
    $1,903
    Deferred
    $15,480
    Nontaxable benefits
    $21,638
    Filer's total
    $202,068

  • Bree Arsenault

    VP, Philanthropy

    Total calculated
    $214,769
    From this org
    $188,559
    From related orgs
    $0
    Other
    $26,210
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $186,643
    Bonus
    $0
    Other
    $1,916
    Deferred
    $16,884
    Nontaxable benefits
    $9,326
    Filer's total
    $214,769

  • Rebecca Yturregui

    VP, Donor Engagement

    Total calculated
    $196,268
    From this org
    $171,904
    From related orgs
    $0
    Other
    $24,364
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $170,000
    Bonus
    $0
    Other
    $1,904
    Deferred
    $15,480
    Nontaxable benefits
    $8,884
    Filer's total
    $196,268

  • Elena Sulima

    Director of Finance

    Total calculated
    $164,371
    From this org
    $130,158
    From related orgs
    $0
    Other
    $34,213
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $126,976
    Bonus
    $1,750
    Other
    $1,432
    Deferred
    $12,574
    Nontaxable benefits
    $21,639
    Filer's total
    $164,371

  • Matthew Grondin

    Director of Communications/Marketing

    Total calculated
    $142,171
    From this org
    $127,693
    From related orgs
    $0
    Other
    $14,478
    Hours/week
    37.5

  • Liana Kingsbury

    Director of Non-Profit Agency Funds

    Total calculated
    $144,857
    From this org
    $120,211
    From related orgs
    $0
    Other
    $24,646
    Hours/week
    37.5

  • Colby Tucker

    Director of Information Technology

    Total calculated
    $146,168
    From this org
    $116,077
    From related orgs
    $0
    Other
    $30,091
    Hours/week
    37.5

  • Laura Reed

    Director, Resources/Cmnty Engagement

    Total calculated
    $144,097
    From this org
    $111,692
    From related orgs
    $0
    Other
    $32,405
    Hours/week
    37.5

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
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 7
The Organization may occasionally provide bonuses, incentive compensation, performance awards, or other non-fixed payments to persons who qualify as officers, directors, trustees, key employees, or highest compensated employees. Any such non-fixed payments are only paid in alignment and consideration of the Organization's compensation and benefit policies. Additionally, any bonuses or performance awards are paid based upon the achievement of measurable goals and objectives. Lastly, bonuses paid to any officers, directors, trustees, key employees, or highest compensated employees during this tax year are included in the amounts reported on this Form 990, Schedule J, Part II, Column B(ii).

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 $240,196

    Directly controlled by Maine Community Foundation

  • David K Silverman Charitable Remainder Unitrust

    T · Charitable Remainder Trust · ME · 100% owned · share of assets $438,488

    Directly controlled by Maine Community Foundation

  • Mary S Marshal Charitable Remainder Unitrust

    T · Charitable Remainder Trust · ME · 100% owned · share of assets $1,440,677

    Directly controlled by Maine Community Foundation

  • Rachel Samsel Charitable Remainder Unitrust

    T · Charitable Remainder Trust · ME · 100% owned · share of assets $179,945

    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 $375,664

    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 $106,597

    Directly controlled by Maine Community Foundation

  • Sedgwick Charitable Remainder Trust

    T · Charitable Remainder Trust · ME · 100% owned · share of assets $22,644

    Directly controlled by Maine Community Foundation

  • Stanley N Marshall III Charitable Remainder Unitrust

    T · Charitable Remainder Trust · ME · 100% owned · share of assets $249,851

    Directly controlled by Maine Community Foundation

Provenance

Return type
form_990
Tax year
2024
Filed
15 November 2025
IRS schema version
2024v5.2
Source object
202503149349305515

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