Overview
What is Northern Maine Development Commission?
The Northern Maine Development Commission is a dedicated nonprofit organization located at 11 West Presque Isle Road, Caribou, ME, 04736. With a team of 21 employees, their primary mission is to effectively serve the northern Maine region through community planning and economic development. They offer various marketing and development grants to strengthen Northern Maine's image and foster a thriving agriculture and manufacturing industry. Starting from FY21, they expanded their initiatives to include Maine Economic Recovery Grants to small businesses via the Coronavirus Relief Funds federal award program.
Official website here: www.nmdc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
The Northern Maine Development Commission has achieved a commendable Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. This high score is indicative of the organization's effective management of resources and adherence to best practices in financial oversight. With a focus on accountability, the organization has demonstrated a solid commitment to transparency and responsible governance.
A significant strength of the commission is its fully independent board, comprising 24 members, which enhances its decision-making processes and ensures a high level of oversight. The organization has also scored perfectly in various financial governance practices, such as maintaining a conflict of interest policy and undergoing rigorous audits. The impressive program expense ratio of 99.93% suggests that almost all funds are directed towards its programs, maximizing the impact of donations received.
Despite its strengths, the summary does not present any noted limitations, indicating a well-functioning nonprofit that operates with integrity and effectiveness. Overall, Northern Maine Development Commission exemplifies the qualities of a reliable and accountable nonprofit organization, making it a trustworthy option for potential donors and supporters.
This AI summary has been generated from information found on Charity Navigator.
Is Northern Maine Development Commission legitimate?
Northern Maine Development Commission is a legitimate nonprofit organization registered as a 501(c)(3) entity. Northern Maine Development Commission 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,157,939
For more financial information, click here
Official website here: www.nmdc.org
What is the mission statement of Northern Maine Development Commission?
The Northern Maine Development Commission is dedicated to serving its region with efficient community planning and economic development. Its mission is to enhance the northern Maine area through various grants, specifically those focused on marketing and development. These grants aim to boost the image of Northern Maine and fortify the business sectors of agriculture and manufacturing. Beginning in fiscal year 2021, the commission has also facilitated Maine Economic Recovery Grants to small businesses via the Coronavirus Relief Funds federal award program.
Official website here: www.nmdc.org
Who is the CEO of Northern Maine Development Commission?
Robert Clark is the Executive Director of Northern Maine Development Commission.
Official website here: www.nmdc.org
What is the revenue of Northern Maine Development Commission?
Northern Maine Development Commission's revenue in 2022 was $27,868,170.
Official website here: www.nmdc.org
Who are the executives of Northern Maine Development Commission and what are their salaries?
The average compensation at Northern Maine Development Commission during 2022 was $55,140. There are 21 employees and 50 volunteers at Northern Maine Development Commission.
Here are 25 key members and their salaries:
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Official website here: www.nmdc.org
Where can I find the form 990 for Northern Maine Development Commission?
Northern Maine Development Commission's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.nmdc.org
Learn more at the official website: www.nmdc.org
Mission Statement of Northern Maine Development Commission
The Northern Maine Development Commission, a dedicated organization, strives to serve the northern Maine region with proficient regional community planning and economic development. Their mission is geared towards enhancing the region's growth and prosperity.
Capitalizing on various funding opportunities, the Commission grants funds for marketing and development projects that uphold a strong image for Northern Maine. By fostering a robust agriculture and manufacturing business sector, they aim to create an appealing economic landscape. Since the onset of FY21, the Commission has taken on an additional role as a facilitator for Maine Economic Recovery Grants. Through this program, they have extended support to small businesses via the Coronavirus Relief Funds federal award.
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Impact
October, 2024
The Northern Maine Development Commission plays a crucial role in shaping the region's economic landscape and community resilience. By focusing on effective regional community planning, it enhances the overall image of Northern Maine, particularly in agriculture and manufacturing sectors. The commission's various marketing and development grants support initiatives that promote local industries and foster growth.
Since fiscal year 2021, it has also been instrumental in distributing Maine Economic Recovery Grants to small businesses, aiding them in navigating the economic challenges posed by the pandemic through the Coronavirus Relief Funds federal award program. This targeted support not only bolsters small businesses but also contributes to the broader economic recovery of the region, ultimately leading to community improvement and a stronger economic foundation for Northern Maine.
This information is meant to be a general summary of Northern Maine Development Commission. 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: $2,352
- Program Service Revenue: $1,424,909
- Gross Receipts: $27,868,170
Assets and Liabilities:
- Total Assets: $19,059,929
- Total Liabilities: $6,620,369
- Net Assets: $12,439,560
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Administrative Services
Revenue
$733,227
Interest Earned on Loan Funds
Revenue
$517,224
Financial Services
Revenue
$48,841
Contract Income
Revenue
$39,225
Loan Recoveries
Revenue
$86,392
Organization Details
Founding Year
1969
Phone
(207) 498-8736Principal Officer
Robert Clark
Main Address
11 West Presque Isle Road, Caribou, ME, 04736
Website
www.nmdc.orgNTEE Category
Code: S30Z - Community improvement
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