Northern Maine Development Commission Inc

Analysis

Northern Maine Development Commission Inc is a registered charity in United States, based in Caribou, ME. It received its IRS tax-exemption ruling in February 1995, 31 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 June 2023, Northern Maine Development Commission Inc reported income of $12.6m and spending of $4.0m, leaving 68% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.0m to $12.6m (+321%), an average of +43% a year. The sharpest change came in the year to June 2021, when income rose by 850%. Over the whole period it spent 81% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Northern Maine Development Commission Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within ME. Charities of a similar size with the same main cause include Transcom Inc ($12.6m), Urban Land Conservancy ($12.6m) and Dorchester Bay Economic Development Corporation ($12.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 69% and program service revenue 27% of the total. Other salaries and wages came to $65k. At year end it held assets of $27.3m against liabilities of $6.2m, net assets of $21.0m. It reported 23 employees.