University of Southern Maine Foundation

Analysis

University of Southern Maine Foundation is a registered charity in United States, based in Portland, ME. It received its IRS tax-exemption ruling in November 2000, 26 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, University of Southern Maine Foundation reported income of $9.9m and spending of $8.2m, spending 83% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $7.4m to $9.9m (+33%), an average of +7.4% a year. The sharpest change came in the year to June 2021, when income rose by 152%. Over the whole period it spent 50% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, University of Southern Maine Foundation sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within ME. Charities of a similar size with the same main cause include United Jewish Charities of Greater Charlotte Inc ($9.9m), National Center for Family Philanthropy Inc ($9.9m) and The Tom Wathen Center ($9.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 68% and program service revenue 22% of the total. Compensation of current officers, directors and key employees was $219k (2.7% of expenses). Other salaries and wages came to $1.4m. It paid $400k in professional fundraising fees. At year end it held assets of $57.8m against liabilities of $50k, net assets of $57.7m. It reported 29 employees.