Maine Center for Enterprise Development

Analysis

Maine Center for Enterprise Development is a registered charity in United States, based in Portland, ME. It received its IRS tax-exemption ruling in February 1997, 29 years ago. Its declared purposes cover unknown, which this site groups under other charitable 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 Center for Enterprise Development reported income of $1.4m and spending of $1.3m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $715k to $1.4m (+89%), an average of +17% a year. The sharpest change came in the year to December 2023, when income rose by 40%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Maine Center for Enterprise Development sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 80th percentile within ME. Charities of a similar size with the same main cause include Montessori Childrens School Inc ($1.4m), Island Hospital Health Foundation ($1.4m) and North Carolina Victim Assistance Network-Nc Van ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% and program service revenue 4.5% of the total. Compensation of current officers, directors and key employees was $158k (12% of expenses). Other salaries and wages came to $247k. At year end it held assets of $360k against liabilities of $280k, net assets of $81k. It reported 4 employees.