Maine Veterans Home

Analysis

Maine Veterans Home is a registered charity in United States, based in Augusta, ME. It received its IRS tax-exemption ruling in September 1981, 45 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Maine Veterans Home reported income of $89.5m and spending of $103.1m, spending 115% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $111.5m to $89.5m (-20%), an average of -5.4% a year. The sharpest change came in the year to June 2022, when income dropped by 20%. Over the whole period it spent 94% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Maine Veterans Home sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within ME. Charities of a similar size with the same main cause include Upmc ($89.4m), Lower Valley Hospital Association ($89.5m) and Jefferson Center for Mental Health ($89.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 3.0% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $748k (0.7% of expenses). Other salaries and wages came to $48.0m. At year end it held assets of $185.1m against liabilities of $57.0m, net assets of $128.1m. It reported 1,413 employees.