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Nonprofiteer
← MAINE FARMLAND TRUST INC

Form 990 for tax year 2024

Filed by MAINE FARMLAND TRUST INC.

Totals

Total revenue
$8,306,755
Total expenses
$7,877,916
Contributions and grants received
$8,037,275
Grants paid
$1,091,762
Program service revenue
$30,196
Investment income
$236,409
Other revenue
$2,875
Total assets, end of year
$27,539,021
Total liabilities, end of year
$812,599
Net assets or fund balances, end of year
$26,726,422
Program services expenses (Part IX)
$6,499,934
Management and general expenses
$594,258
Fundraising expenses
$783,724
Program service expenses (Part III)
$6,499,934

Program services were 82.5% 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

    $176,578

  • 1f · All other contributions, gifts and grants

    $7,860,697

  • 1g · Noncash contributions included above

    $419,492

  • 2a · Program service revenue: Food hub rental

    total $20,112 · related or exempt $20,112

  • 2b · Program service revenue: Farmland rental

    total $7,374 · related or exempt $7,374

  • 2c · Program service revenue: Interest on program lo

    total $2,210 · related or exempt $2,210

  • 2d · Program service revenue: Easement amendments

    total $500 · related or exempt $500

  • 3 · Investment income

    total $237,613 · excluded $237,613

  • 7a · Gross sales of assets other than inventory

    other assets $59,500

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

    other assets $60,704

  • 7c · Gain or loss

    other assets -$1,204

  • 7d · Net gain or loss

    total -$1,204 · excluded -$1,204

  • 10a · Gross sales of inventory

    $1,748

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $1,748 · related or exempt $1,748

  • 11a · Other revenue: Miscellaneous

    total $1,127 · excluded $1,127

  • 11e · Other revenue, total

    $1,127

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,091,762 · program services $1,091,762

  • 5 · Compensation of officers, directors and key employees

    total $201,876 · program services $143,195 · management and general $26,498 · fundraising $32,183

  • 7 · Other salaries and wages

    total $3,025,917 · program services $2,202,334 · management and general $310,393 · fundraising $513,190

  • 8 · Pension plan contributions

    total $113,821 · program services $81,592 · management and general $12,808 · fundraising $19,421

  • 9 · Other employee benefits

    total $334,201 · program services $251,071 · management and general $38,674 · fundraising $44,456

  • 10 · Payroll taxes

    total $265,289 · program services $186,661 · management and general $34,986 · fundraising $43,642

  • 11b · Fees: legal

    total $158,375 · program services $156,794 · management and general $1,581

  • 11c · Fees: accounting

    total $36,289 · management and general $36,289

  • 11g · Fees: other

    total $209,824 · program services $184,502 · management and general $16,301 · fundraising $9,021

  • 12 · Advertising and promotion

    total $17,546 · program services $17,546

  • 13 · Office expenses

    total $26,510 · program services $20,380 · management and general $2,861 · fundraising $3,269

  • 14 · Information technology

    total $177,644 · program services $119,936 · management and general $20,798 · fundraising $36,910

  • 16 · Occupancy

    total $94,447 · program services $68,828 · management and general $13,223 · fundraising $12,396

  • 17 · Travel

    total $114,995 · program services $93,934 · management and general $11,125 · fundraising $9,936

  • 20 · Interest

    total $32,346 · program services $22,529 · management and general $5,726 · fundraising $4,091

  • 22 · Depreciation, depletion and amortization

    total $77,752 · program services $55,398 · management and general $10,448 · fundraising $11,906

  • 23 · Insurance

    total $36,956 · program services $29,406 · management and general $5,240 · fundraising $2,310

  • 24a · Other expenses: Purchased easements

    total $1,398,524 · program services $1,398,524

  • 24b · Other expenses: Farm business planning

    total $52,642 · program services $52,642

  • 24c · Other expenses: Policy and research

    total $24,144 · program services $24,144

  • 24d · Other expenses: Farmland ownership

    total $20,043 · program services $19,730 · management and general $313

  • 24e · All other expenses

    total $367,013 · program services $279,026 · management and general $46,994 · fundraising $40,993

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $274,951 · end of year $357,118

  • 2 · Savings and temporary cash investments

    beginning of year $7,946,892 · end of year $4,497,334

  • 3 · Pledges and grants receivable

    beginning of year $1,062,650 · end of year $1,153,721

  • 4 · Accounts receivable

    beginning of year $142,530 · end of year $4,629

  • 7 · Other notes and loans receivable

    beginning of year $561,843 · end of year $331,052

  • 9 · Prepaid expenses and deferred charges

    beginning of year $28,953 · end of year $29,350

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

    $2,082,524

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

    $544,120

  • 10c · Land, buildings and equipment, net

    beginning of year $1,562,749 · end of year $1,538,404

  • 14 · Intangible assets

    beginning of year $54,111

  • 15 · Other assets

    beginning of year $15,356,079 · end of year $19,627,413

  • 17 · Accounts payable and accrued expenses

    beginning of year $241,679 · end of year $294,165

  • 23 · Secured mortgages and notes payable

    beginning of year $651,747 · end of year $328,436

  • 24 · Unsecured notes and loans payable

    beginning of year $697,602 · end of year $189,998

  • 25 · Other liabilities

    beginning of year $4,925

  • 27 · Net assets without donor restrictions

    beginning of year $19,155,829 · end of year $18,862,346

  • 28 · Net assets with donor restrictions

    beginning of year $6,238,976 · end of year $7,864,076

Mission and programs · 2024

Mission

Maine Farmland Trust protects farmland, supports farmers, and advances the future of farming.

  • FARMLAND PROTECTION: Permanently protected farmland through acceptance of donated agricultural conservation easements, purchase of agricultural conservation easements, and purchase, protection, and resale of farms. This year, MFT completed 10 land protection projects, protecting 1,837 acres of land.

    Expenses $2,921,872 · Grants $413,702 · Revenue $7,374

  • STEWARDSHIP: The Stewardship program is responsible for monitoring protected farmland to ensure that the conservation values of the property are protected forever. This period, MFT completed annual easement monitoring for 304 easements, covering over 45,215 acres.

    Expenses $629,026 · Revenue $500

  • EDUCATION & OUTREACH: Provided workshops, presentations, regional meetings and displays at agricultural and related events to present both general and technical information about MFT's work. Hosted a variety of events to increase public awareness about the challenges farmers face and educate about MFT's work to protect farmland and support Maine farms through our programs and policy efforts.

    Expenses $588,292 · Revenue $1,748

  • FARMLAND ACCESS: Collaborated with external partners to address systemic and individual farmland access and transfer challenges. Operated FarmLink, which matches prospective farmers with landowners that have farms available for lease or sale. This period, through our FarmLink program, 642 acres of farmland remained in farming or were brought into production by new farmers through 5 farm links.FARM BUSINESS PLANNING: Directly supported farmers with business planning, offering training and technical assistance to farmers. This period, our farm business planning program served 65 unique farm businesses with 90 engagements in workshops, technical assistance and grants.CLIMATE: Improved viability of farms through increased understanding of their land and adaptation to climate risks and connecting to resources. This period, our Climate Resilience team supported 57 farm businesses with technical assistance support and/or climate resilience grants.PFAS RESPONSE: Directly supported farmers affected by PFAS by providing education, technical assistance, and grants to support farms affected by PFAS. This period, 11 farms were directly supported with PFAS related grants.POLICY & RESEARCH: Worked on federal, state, and municipal policy issues that affect Maine farms, and engaged in those policy areas that directly impact our ability to protect farmland, support farmers, and advance the future of farming. Conducted research and prepared reports and articles to inform MFT's policy work, support other MFT program areas, and educate policymakers and the public about issues affecting Maine agriculture.

    Expenses $2,360,744 · Grants $678,060 · Revenue $22,322

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Dave Colson

    Chair

    Total calculated
    $0
    Hours/week
    6

  • Margot Anne Kelley

    Vice Chair

    Total calculated
    $0
    Hours/week
    5

  • Justin Jamison

    Treasurer

    Total calculated
    $0
    Hours/week
    4

  • Alix Hopkins

    Secretary

    Total calculated
    $0
    Hours/week
    2

  • Jason Bolton

    Director

    Total calculated
    $0
    Hours/week
    1

  • Amanda Bunker

    Director

    Total calculated
    $0
    Hours/week
    2

  • Steve Crane

    Director

    Total calculated
    $0
    Hours/week
    2

  • Caitlin Frame

    Director

    Total calculated
    $0
    Hours/week
    2

  • Lauren Giroux

    Director

    Total calculated
    $0
    Hours/week
    2

  • Don Perkins

    Director

    Total calculated
    $0
    Hours/week
    2

  • Tom Settlemire

    Director

    Total calculated
    $0
    Hours/week
    2

  • Drew Sigfridson

    Director

    Total calculated
    $0
    Hours/week
    2

  • Henry Whittemore

    Director

    Total calculated
    $0
    Hours/week
    2

  • Kristin Varnum

    Interim President

    Total calculated
    $201,876
    From this org
    $178,869
    From related orgs
    $0
    Other
    $23,007
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $178,869
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $23,007
    Filer's total
    $201,876

  • Stacy Brenner

    President

    Total calculated
    $62,733
    From this org
    $60,612
    From related orgs
    $0
    Other
    $2,121
    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 · 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

  • Niweskok

    $413,702

    Land Return & Goose River Farm Purchase

  • Dostie Farm

    $138,634

    PFAS Infrastructure & Wellness

  • Keith Hunter

    $107,457

    PFAS Infrastructure

  • Brigreen Farms

    $65,000

    Farming for the Long Haul Implementation

  • Second Frost Farm

    $55,000

    Farming for the Long Haul Implementation

  • Old Crow Ranch

    $55,000

    Farming for the Long Haul Implementation

  • Misty Brook Farm

    $18,090

    Farming for the Long Haul Implementation

  • Fields Fields Blueberries

    $15,000

    Wild Blueberry Innovation Grant

  • Brodis Blueberries

    $15,000

    Wild Blueberry Innovation Grant

  • Lost & Found Farm

    $15,000

    Wild Blueberry Innovation Grant

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

Provenance

Return type
form_990
Tax year
2024
Filed
9 April 2026
IRS schema version
2024v5.5
Source object
202601009349301310

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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