University of Maine Foundation

Analysis

University of Maine Foundation is a registered charity in United States, based in Orono, ME. It received its IRS tax-exemption ruling in December 1940, 86 years ago. Its declared purposes cover education, which this site groups under education and training. 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, University of Maine Foundation reported income of $64.7m and spending of $32.9m, leaving 49% of income unspent that year. Across the 6 years on record, from June 2019 to December 2023, income grew from $29.2m to $64.7m (+121%), an average of +17% a year. The sharpest change came in the year to December 2022, when income rose by 85%. Over the whole period it spent 64% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, University of Maine Foundation sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within ME. Charities of a similar size with the same main cause include Collegiate School ($64.6m), Walla Walla University ($64.8m) and Heidelberg University ($64.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 74% and program service revenue 5.9% of the total. Compensation of current officers, directors and key employees was $696k (2.1% of expenses). Other salaries and wages came to $3.2m. At year end it held assets of $390.6m against liabilities of $12.1m, net assets of $378.5m. It reported 45 employees.