Sail Maine Inc

Analysis

Sail Maine Inc is a registered charity in United States, based in Portland, ME. It received its IRS tax-exemption ruling in July 1996, 30 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Sail Maine Inc reported income of $908k and spending of $1.1m, spending 126% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $739k to $908k (+23%), an average of +5.3% a year. The sharpest change came in the year to December 2020, when income rose by 83%. Over the whole period it spent 90% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Sail Maine Inc sits at the 85th percentile: it is larger than about 85% 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 402 Arts Collective ($908k), Woodstock School of Art Inc ($908k) and Western Forest Industries Museum ($908k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 31% and program service revenue 65% of the total. Compensation of current officers, directors and key employees was $101k (8.8% of expenses). Other salaries and wages came to $430k. At year end it held assets of $1.3m against liabilities of $2,808, net assets of $1.2m. It reported 66 employees.