Gulf of Maine Properties Inc

Analysis

Gulf of Maine Properties Inc is a registered charity in United States, based in Portland, ME. It received its IRS tax-exemption ruling in July 2007, 19 years ago. Its declared purposes cover science and technology, which this site groups under arts, culture, heritage and science. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Gulf of Maine Properties Inc reported income of $1.2m and spending of $1.2m, spending 97% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $890k to $1.2m (+34%), an average of +7.6% a year. The sharpest change came in the year to June 2022, when income rose by 15%. Over the whole period it spent 104% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Gulf of Maine Properties Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 79th percentile within ME. Charities of a similar size with the same main cause include American Huey 369 Inc ($1.2m), The Cedar Cultural Center Inc ($1.2m) and Community Business Partnership Inc ($1.2m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 98% of the total. At year end it held assets of $10.6m against liabilities of $2.9m, net assets of $7.7m.