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← VINCENT B AND BARBARA G WELCH SUPPORTING ORGANIZATION

Form 990 for tax year 2022

Filed by VINCENT B AND BARBARA G WELCH SUPPORTING ORGANIZATION.

Totals

Total revenue
$331,437
Total expenses
$843,226
Contributions and grants received
$0
Grants paid
$685,641
Program service revenue
$0
Investment income
$0
Other revenue
$331,437
Total assets, end of year
$7,533,099
Total liabilities, end of year
$500,000
Net assets or fund balances, end of year
$7,033,099
Program services expenses (Part IX)
$685,927
Management and general expenses
$157,299
Fundraising expenses
$0
Program service expenses (Part III)
$685,927

Program services were 81.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • Sue Doliner

    Director

    Total calculated
    $0
    Hours/week
    0.1

  • Frank H Frye

    Director

    Total calculated
    $0
    Hours/week
    0.1

  • Douglas M Henry

    Director

    Total calculated
    $0
    Hours/week
    0.1

  • Amanda V Rand

    Director

    Total calculated
    $0
    Hours/week
    0.1

  • Sally G Vamvakias

    President/Director

    Total calculated
    $0
    Hours/week
    0.1

  • Eric Blakeman

    Vice President/Director

    Total calculated
    $0
    Hours/week
    0.1

  • Deborah Ellwood

    MCF President & CEO (start 7/2022)

    Total calculated
    $184,586
    From this org
    $0
    From related orgs
    $171,577
    Other
    $13,009
    Hours/week
    0.1 + 50.2 related

    Schedule J breakdown matched by us

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

  • Sterling Speirn

    MCF President & CEO (end 6/2022)

    Total calculated
    $89,976
    From this org
    $0
    From related orgs
    $82,707
    Other
    $7,269
    Hours/week
    0.1 + 50.2 related

  • Michele Camarco

    Treasurer/MCF CFO

    Total calculated
    $208,678
    From this org
    $0
    From related orgs
    $180,419
    Other
    $28,259
    Hours/week
    0.1 + 50.2 related

    Schedule J breakdown matched by us

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

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

None.

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

The filer's explanations (Part III)

Part I, Line 3
The Vincent B. and Barbara G. Welch Supporting Organization does not have any employees. However, the Vice President/CFO of Maine Community Foundation (MCF), the supported organization, oversees the finances of the Welch Supporting Organization, and the MCF President & CEO is named as the Organization's Principal Officer. MCF uses a compensation committee, an independent compensation consultant, the Form 990 of other organizations, compensation surveys or studies, and approval by the board or a compensation committee to assist in establishing the compensation for this position.

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

  • David K Silverman Charitable Remainder Unitrust

    T · Charitable Remainder Trust · ME

  • Mary S Marshal Charitable Remainder Unitrust

    T · Charitable Remainder Trust · ME

  • Rachel Samsel Charitable Remainder Unitrust

    T · Charitable Remainder Trust · ME

  • Richard J McGoldrick Charitable Remainder Annuity Trust 2019

    T · Charitable Remainder Trust · ME

  • Roger A Fessaguet 2013 Charitable Remainder Trust No 1

    T · Charitable Remainder Trust · ME

  • Roger A Fessaguet 2013 Charitable Remainder Trust No 2

    T · Charitable Remainder Trust · ME

  • Sedgwick Charitable Remainder Trust

    T · Charitable Remainder Trust · ME

  • Stanley N Marshall III Charitable Remainder Unitrust

    T · Charitable Remainder Trust · ME

Provenance

Return type
form_990
Tax year
2022
Filed
31 October 2023
IRS schema version
2022v5.0
Source object
202323069349301682

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