Live Work Maine Inc

Analysis

Live Work Maine Inc is a registered charity in United States, based in Brunswick, ME. It received its IRS tax-exemption ruling in May 2021, 5 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, Live Work Maine Inc reported income of $2.3m and spending of $1.0m, leaving 54% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income grew from $560k to $2.3m (+303%), an average of +101% a year. The sharpest change came in the year to December 2022, when income rose by 141%. Over the whole period it spent 60% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Live Work Maine Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 86th percentile within ME. Charities of a similar size with the same main cause include Fresno Metro Black Chamber of Commerce ($2.3m), Cares of Washington ($2.3m) and Native360 Loan Fund Inc ($2.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 11% and program service revenue 88% of the total. Other salaries and wages came to $316k. At year end it held assets of $1.8m against liabilities of $43k, net assets of $1.8m. It reported 3 employees.