Overview
What is University Of Maine Foundation?
The University of Maine Foundation is a nonprofit organization situated in Orono, Maine, with a mailing address at Two Alumni Place, ZIP code 04469. The Foundation's primary mission is to collect and manage donations, distributing the funds for scholarships and general support to benefit the University of Maine. As a separate entity, it collaborates closely with various organizations to secure philanthropic contributions for the university, ensuring donors' wishes are honored indefinitely. The Foundation is led by a team of 46 employees and is dedicated to furthering the success of the University of Maine through fundraising and endowment management.
Official website here: www.umainefoundation.org
What are the reviews and ratings of this charity?
Charity Navigator rating: 100%, Four-Star out of Four Star rating.
The University of Maine Foundation has achieved an impressive 100% rating in Accountability & Finance, reflecting strong financial health and transparency. The organization has a majority independent board and exhibits excellent governance practices, including a robust audit and oversight committee. Additionally, the foundation has no material diversions of assets and maintains comprehensive conflict of interest and whistleblower policies.
The financial ratios indicate a sound operational structure, with 81.29% of expenses dedicated to programs and an efficient fundraising cost of just $0.14 per dollar raised. The foundation also boasts a healthy working capital ratio of 10.88 years, which suggests a strong ability to sustain its operations.
Overall, the foundation's high rating signifies its commitment to accountability and responsible financial management, making it a trustworthy choice for donors looking to support higher education in Maine. The absence of noted limitations further underscores the foundation's exemplary performance in nonprofit governance.
This AI summary has been generated from information found on Charity Navigator.
Is University Of Maine Foundation legitimate?
University Of Maine Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. University Of Maine Foundation 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: $695,950
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,233,684
For more financial information, click here
Official website here: www.umainefoundation.org
What is the mission statement of University Of Maine Foundation?
The University of Maine Foundation serves as a separate entity to promote philanthropic giving for the benefit of the University of Maine and other charitable organizations. Acting collaboratively with various entities, the Foundation's mission is to manage endowments and distribute funds for scholarships and general university support, honoring donors' wishes indefinitely. By encouraging charitable contributions, the Foundation plays a crucial role in enhancing the educational experience and progress at the University of Maine.
Official website here: www.umainefoundation.org
Who is the CEO of University Of Maine Foundation?
Jeffery N Mills is the CEO of University Of Maine Foundation The CEO's salary of University Of Maine Foundation is $374,660 and their total compensation is $434,160.
Official website here: www.umainefoundation.org
What is the revenue of University Of Maine Foundation?
University Of Maine Foundation's revenue in 2023 was $64,724,867.
Official website here: www.umainefoundation.org
Who are the executives of University Of Maine Foundation and what are their salaries?
The average compensation at University Of Maine Foundation during 2023 was $87,325. There are 45 employees and 50 volunteers at University Of Maine Foundation.
Here are 17 key members and their salaries (University Of Maine Foundation's CEO's salary is $374,660 and their total compensation is $434,160):
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- Compensation: $374,660
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- Other: $59,500
- Compensation: $184,613
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- Other: $77,177
- Compensation: $172,505
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- Other: $51,292
- Compensation: $165,462
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- Other: $50,352
- Compensation: $171,876
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- Other: $32,599
- Compensation: $153,719
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- Other: $30,104
- Compensation: $145,797
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- Other: $14,580
Official website here: www.umainefoundation.org
Where can I find the form 990 for University Of Maine Foundation?
University Of Maine Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.umainefoundation.org
Learn more at the official website: www.umainefoundation.org
Mission Statement of University Of Maine Foundation
The University of Maine Foundation serves as a distinct entity, dedicated to raising funds and managing endowments to benefit the University of Maine and other charitable organizations. In this role, it collaborates closely with various entities to foster philanthropic giving for the University of Maine, ensuring donors' wishes are carried out perpetually.
Through its mission, the University of Maine Foundation acts as a catalyst for financial support, channeling resources towards scholarships and general university initiatives. This nonprofit organization's primary goal is to create a lasting impact on the educational institution and its students by distributing donations and endowment income.
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Impact
October, 2024
The University of Maine Foundation plays a pivotal role in enhancing the educational experience at the University of Maine through strategic fundraising and effective endowment management. By cultivating philanthropic support, the Foundation allocates resources to scholarships and general programs, ensuring that financial aid is available to students and that academic initiatives are well-funded.
The Foundation's efforts enable the university to attract and retain talented individuals, fostering an environment where education thrives. Additionally, by collaborating with various entities, it amplifies the impact of donations and honors the intentions of donors, thus strengthening the university's capacity to serve its community. The long-term benefits of these efforts contribute significantly to the sustainability and growth of the University of Maine, ultimately enriching the lives of its students and the broader community in Orono, Maine, and beyond.
This information is meant to be a general summary of University Of Maine Foundation. 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 2023.
- Investment Income: $3,377,931
- Program Service Revenue: $3,837,796
- Gross Receipts: $132,466,169
Assets and Liabilities:
- Total Assets: $326,235,305
- Total Liabilities: $9,362,587
- Net Assets: $316,872,718
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Advancement Svcs. Agreement Rev.
Revenue
$3,837,796
Organization Details
Founding Year
1934
Principal Officer
Jeffery Mills
Website
www.umainefoundation.orgNTEE Category
Code: B110 - Education
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