Maine Association for New Americans

Analysis

Maine Association for New Americans is a registered charity in United States, based in Portland, ME. It received its IRS tax-exemption ruling in April 2017, 9 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 December 2023, Maine Association for New Americans reported income of $1.2m and spending of $1.1m, spending 90% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $442k to $1.2m (+167%), an average of +64% a year. The sharpest change came in the year to December 2022, when income rose by 89%. Over the whole period it spent 90% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Maine Association for New Americans sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 78th percentile within ME. Charities of a similar size with the same main cause include Florida House Washington D C Inc ($1.2m), Near North Development Corporation ($1.2m) and Kensington Corridor Trust ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% and program service revenue 3.6% of the total. Compensation of current officers, directors and key employees was $80k (7.5% of expenses). Other salaries and wages came to $409k. At year end it held assets of $375k against liabilities of $104k, net assets of $271k. It reported 13 employees.