Kennebec Valley Council of Governments

Analysis

Kennebec Valley Council of Governments is a registered charity in United States, based in Fairfield, ME. It received its IRS tax-exemption ruling in June 1998, 28 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Kennebec Valley Council of Governments reported income of $899k and spending of $1.1m, spending 122% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $751k to $899k (+20%), an average of +4.6% a year. The sharpest change came in the year to June 2021, when income rose by 108%. Over the whole period it spent 82% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Kennebec Valley Council of Governments sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 75th percentile within ME. Charities of a similar size with the same main cause include Hudson County Economic Development Corporation ($899k), Fundacion Luis G Fortuno ($899k) and Lexington Vocational Services Center Inc ($899k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 73% and program service revenue 22% of the total. Other salaries and wages came to $483k. At year end it held assets of $4.1m against liabilities of $926k, net assets of $3.1m. It reported 13 employees.