Maine Gearshare

Analysis

Maine Gearshare is a registered charity in United States, based in Freeport, ME. It received its IRS tax-exemption ruling in August 2022, 4 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Maine Gearshare reported income of $188k and spending of $223k, spending 119% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $369k to $188k (-49%), an average of -49% a year. The sharpest change came in the year to December 2023, when income dropped by 49%. Over the whole period it spent 92% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Maine Gearshare sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 45th percentile within ME. Charities of a similar size with the same main cause include Little League Baseball Inc ($188k), Mentor Girls Softball League ($188k) and Byron Center Hockey Boosters Inc ($188k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% and program service revenue 5.4% of the total. Compensation of current officers, directors and key employees was $61k (27% of expenses). Other salaries and wages came to $69k. At year end it held assets of $43k against liabilities of $0, net assets of $43k. It reported 4 employees.