Mainestream Finance

Analysis

Mainestream Finance is a registered charity in United States, based in Bangor, ME. It received its IRS tax-exemption ruling in March 2001, 25 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 September 2023, Mainestream Finance reported income of $485k and spending of $584k, spending 120% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $683k to $485k (-29%), an average of -8.2% a year. The sharpest change came in the year to September 2021, when income rose by 142%. Over the whole period it spent 70% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Mainestream Finance sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 66th percentile within ME. Charities of a similar size with the same main cause include Innovation for Green Advanced Transportation Excellence Developm ($484k), Greater Sarasota Chamber of Commerce Foundation Inc ($485k) and Pure Justice ($484k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 18% and program service revenue 82% of the total. At year end it held assets of $6.9m against liabilities of $4.2m, net assets of $2.7m.