Maine Community Foundation Inc

Analysis

Maine Community Foundation Inc is a registered charity in United States, based in Ellsworth, ME. It received its IRS tax-exemption ruling in January 1984, 42 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 December 2023, Maine Community Foundation Inc reported income of $108.7m and spending of $72.3m, leaving 33% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $41.9m to $108.7m (+160%), an average of +27% a year. The sharpest change came in the year to December 2023, when income rose by 108%. Over the whole period it spent 81% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Maine Community Foundation Inc sits at the 99th percentile: it is one of the largest 1% in its cause. 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 United Way of King County ($108.0m), Denver Foundation ($108.7m) and United Israel Appeal of Canada Inc ($107.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 47% and program service revenue 1.1% of the total. Compensation of current officers, directors and key employees was $1.6m (2.3% of expenses). Other salaries and wages came to $3.2m. At year end it held assets of $732.2m against liabilities of $151.3m, net assets of $581.0m. It reported 55 employees.