Overview
What is Maine Community Foundation Inc?
The Maine Community Foundation, based at 245 Main Street, Ellsworth, Maine, is a grantmaking nonprofit organization dedicated to improving Maine communities. With a team of 55 employees, they offer various ways for donors to support local causes, including individual nonprofits, scholarships, county funds, and specific issues. In 2022, the foundation granted over $54 million to charitable organizations, addressing issues such as the environment, economic development, racial equity, housing, food insecurity, education, health, and arts and culture. This included over $2.6 million in scholarships for 1200 recipients and $1.5 million from the Community Building program, which empowers communities to provide resources to nonprofits. The foundation also provides community leadership grants to address barriers hindering Maine people's full engagement and contribution to their communities and economy. Their mission is to bring people and resources together to build a better Maine.
Official website here: www.mainecf.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 99% (Four-Star out of Four Star rating)
Maine Community Foundation Inc has received an impressive Four-Star rating from Charity Navigator, primarily based on its excellent Accountability & Finance score of 99%. This high rating reflects the foundation’s strong commitment to transparency and effective financial management, ensuring that the majority of its resources are directed towards its programs, with a program expense ratio of 84.86%.
The organization benefits from a fully independent board, demonstrating strong governance practices. The board consists of 18 independent members, and the foundation has established robust policies, including those for conflict of interest, whistleblower protection, and document retention. Additionally, the foundation's financial statements undergo thorough audit processes, highlighting its commitment to accountability.
However, there are areas for improvement, notably the absence of a donor privacy policy, which received a low score. While the foundation excels in many aspects of governance and financial management, addressing this limitation could enhance its overall rating and further build trust with its donors.
This AI summary has been generated from information found on Charity Navigator.
Is Maine Community Foundation Inc legitimate?
Maine Community Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Maine Community Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $1,407,070
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,996,701
For more financial information, click here
Official website here: www.mainecf.org
What is the mission statement of Maine Community Foundation Inc?
The Maine Community Foundation serves as a connector, bringing together individuals and resources to enhance Maine communities. Through its grantmaking initiatives, the organization supports a range of charitable organizations addressing various issues such as the environment, education, health, and racial equity. In 2022, the foundation distributed over $54 million in grants, including scholarships for over 1200 recipients and funds from its Community Building program. Additionally, the foundation's community leadership grants foster partnerships to enhance Maine residents' quality of life and enable their active participation in their communities and economy.
Official website here: www.mainecf.org
Who is the CEO of Maine Community Foundation Inc?
Deborah Ellwood is the President/Ceo/Ex Officio(Eff 7/2022) of Maine Community Foundation Inc. The CEO's salary of Maine Community Foundation Inc is $82,707 and their total compensation is $89,976.
Official website here: www.mainecf.org
What is the revenue of Maine Community Foundation Inc?
Maine Community Foundation Inc's revenue in 2022 was $52,365,869.
Official website here: www.mainecf.org
Who are the executives of Maine Community Foundation Inc and what are their salaries?
The average compensation at Maine Community Foundation Inc during 2022 was $80,069. There are 55 employees and 451 volunteers at Maine Community Foundation Inc.
Here are 34 key members and their salaries (Maine Community Foundation Inc's CEO's salary is $82,707 and their total compensation is $89,976):
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- Compensation: $109,704
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- Compensation: $72,529
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- Other: $15,057
- Compensation: $82,707
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- Other: $7,269
- Compensation: $171,577
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- Compensation: $180,419
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- Compensation: $148,727
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- Compensation: $151,537
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- Compensation: $157,306
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- Compensation: $121,925
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- Compensation: $108,588
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- Compensation: $105,046
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- Other: $28,623
- Compensation: $104,334
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- Other: $28,811
Official website here: www.mainecf.org
Where can I find the form 990 for Maine Community Foundation Inc?
Maine Community Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mainecf.org
Learn more at the official website: www.mainecf.org
Mission Statement of Maine Community Foundation Inc
The Maine Community Foundation, a prominent nonprofit organization, is dedicated to connecting people and resources with the goal of improving Maine communities. Through its mission, the foundation brings together various donors and channels their contributions towards addressing various societal issues in Maine.
In 2022, the Maine Community Foundation distributed over $54 million in grants, which reached out to numerous charitable organizations across the state. These grants were focused on a range of concerns, including environmental sustainability, community economic development, racial equity, housing and food insecurity, education, health and wellbeing, and arts and culture. The foundation's grants supported scholarships for over 1200 students, enabling them to pursue professional development and further their education.
Moreover, the Maine Community Foundation's Community Building program granted $1.5 million to communities throughout Maine to provide essential resources to local nonprofits. This program empowers the foundation to engage with communities and support them in addressing the unique challenges that prevent Maine residents from fully participating in their communities and the economy. Additionally, the foundation awarded community leadership grants of $371 thousand to strengthen partnerships with donors, nonprofits, institutions, and other community members to tackle the barriers that hinder Maine people from actively contributing to their communities and the state's economy.
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Impact
August, 2024
Maine Community Foundation Inc brings people and resources together to build a better Maine by providing over $54 million in grants in 2022. These grants supported charitable organizations addressing various issues such as the environment, community economic development, racial equity, housing and food insecurity, education, health and wellbeing, and arts and culture. Over $2.6 million in scholarships were awarded to over 1200 recipients for professional development and education. Additionally, the foundation provided $1.5 million in community building grants and $371 thousand in community leadership grants to improve the quality of life for Maine people. Through partnerships with donors, nonprofits, institutions, and community members, the foundation works to address barriers that prevent individuals from fully engaging with and contributing to Maine communities and the economy.
This information is meant to be a general summary of Maine Community Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $12,086,270
- Program Service Revenue: $1,126,365
- Gross Receipts: $444,198,046
Assets and Liabilities:
- Total Assets: $660,555,891
- Total Liabilities: $131,156,453
- Net Assets: $529,399,438
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Fees for Services
Revenue
$1,122,368
Other Programs
Revenue
$3,997
Organization Details
Founding Year
1983
Phone
(207) 667-9735Principal Officer
Deborah Ellwood
Main Address
245 Main Street, Ellsworth, ME, 04605
Website
www.mainecf.orgNTEE Category
Code: T310 - Philanthropy
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