Maine Manufacturing Extension Partnership

Analysis

Maine Manufacturing Extension Partnership is a registered charity in United States, based in Augusta, ME. It received its IRS tax-exemption ruling in January 2000, 26 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Maine Manufacturing Extension Partnership reported income of $2.2m and spending of $2.2m, spending 99% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.7m to $2.2m (+33%), an average of +7.3% a year. The sharpest change came in the year to June 2021, when income rose by 55%. Over the whole period it spent 96% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Maine Manufacturing Extension Partnership sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 86th percentile within ME. Charities of a similar size with the same main cause include Jackson County Economic Development Foundation Inc ($2.2m), Center for Growth and Independence ($2.2m) and Responsible Business Alliance Foundation ($2.2m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 81% and program service revenue 18% of the total. Compensation of current officers, directors and key employees was $233k (11% of expenses). Other salaries and wages came to $790k. At year end it held assets of $1.5m against liabilities of $106k, net assets of $1.4m. It reported 13 employees.