Civic Intelligence

Maine Development Foundation

990 • Fiscal year 2016 • EIN 01-0355563

Jan 01, 2016 to Dec 31, 2016 • Filed on May 04, 2017

Organization Profilewww.mdf.org

View Organization Page

295 Water Street No 5Augusta, ME 04330

(207) 622-6345

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

76th percentile

0.43x

Higher debt load relative to assets than 76% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

59th percentile

0.17x

Higher debt load relative to revenue than 59% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

21st percentile

-11%

Higher net margin than 21% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

87th percentile

$173,963

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 14.3% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

7th percentile

-19%

Faster asset growth than 7% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

69th percentile

12%

Faster revenue growth than 69% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets76th percentile

Assets

Down

$486,928

Down $110,775 (-19%) from 2015

Net Assets

Down

$277,348

Down $134,160 (-33%) from 2015

Liabilities

Up

$209,580

Up $23,385 (+13%) from 2015

Revenue And Expenses
Liabilities / Revenue59th percentileNet Margin21st percentile

Revenue

Up

$1,217,801

Up $132,320 (+12%) from 2015

Expenses

Up

$1,351,961

Up $158,626 (+13%) from 2015

Net Income

Down

-$134,160

Down $26,306 (-24%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth7th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$2.0M$1.5M$1.0M$500K$0Assets 2011: $699,961Liabilities 2011: $368,590Net Assets 2011: $331,3712011Assets 2012: $976,668Liabilities 2012: $336,797Net Assets 2012: $639,8712012Assets 2013: $896,507Liabilities 2013: $355,290Net Assets 2013: $541,2172013Assets 2014: $685,013Liabilities 2014: $165,651Net Assets 2014: $519,3622014Assets 2015: $597,703Liabilities 2015: $186,195Net Assets 2015: $411,5082015Assets 2016: $486,928Liabilities 2016: $209,580Net Assets 2016: $277,3482016Assets 2017: $696,530Liabilities 2017: $182,124Net Assets 2017: $514,4062017Assets 2018: $788,412Liabilities 2018: $338,857Net Assets 2018: $449,5552018Assets 2019: $713,218Liabilities 2019: $321,624Net Assets 2019: $391,5942019Assets 2020: $1,568,365Liabilities 2020: $1,261,098Net Assets 2020: $307,2672020Assets 2021: $970,799Liabilities 2021: $762,728Net Assets 2021: $208,0712021Assets 2022: $1,919,051Liabilities 2022: $1,647,351Net Assets 2022: $271,7002022Assets 2023: $1,176,862Liabilities 2023: $1,106,012Net Assets 2023: $70,8502023Assets 2024: $969,500Liabilities 2024: $934,485Net Assets 2024: $35,0152024

Highlighted filing

2016

Assets$486,928
Liabilities$209,580
Net Assets$277,348
Open 2016 Filing

Operations Trend

Revenue Growth69th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $1,473,122Expenses 2011: $1,488,806Net Income 2011: -$15,6842011Revenue 2012: $1,562,112Expenses 2012: $1,253,612Net Income 2012: $308,5002012Revenue 2013: $1,972,856Expenses 2013: $2,071,510Net Income 2013: -$98,6542013Revenue 2014: $2,021,324Expenses 2014: $2,043,179Net Income 2014: -$21,8552014Revenue 2015: $1,085,481Expenses 2015: $1,193,335Net Income 2015: -$107,8542015Revenue 2016: $1,217,801Expenses 2016: $1,351,961Net Income 2016: -$134,1602016Revenue 2017: $1,659,229Expenses 2017: $1,422,171Net Income 2017: $237,0582017Revenue 2018: $1,792,373Expenses 2018: $1,857,224Net Income 2018: -$64,8512018Revenue 2019: $1,791,473Expenses 2019: $1,849,434Net Income 2019: -$57,9612019Revenue 2020: $2,516,324Expenses 2020: $2,600,651Net Income 2020: -$84,3272020Revenue 2021: $2,681,444Expenses 2021: $2,780,640Net Income 2021: -$99,1962021Revenue 2022: $2,803,285Expenses 2022: $2,739,656Net Income 2022: $63,6292022Revenue 2023: $3,160,300Expenses 2023: $3,361,150Net Income 2023: -$200,8502023Revenue 2024: $2,966,802Expenses 2024: $3,002,637Net Income 2024: -$35,8352024

Highlighted filing

2016

Revenue$1,217,801
Expenses$1,351,961
Net Income-$134,160
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
May 4, 2017
Return Version
2016v3.0
Gross Receipts
$1,217,801
Mission and Program Overview

Mission

The mission of the Maine Development Foundation is to foster sustainable, long-term economic growth for Maine. Its programs stimulate new ideas, help develop Maine's leaders, and provide common ground for solving problems and advancing important issues.

To promote economic growth in the State of Maine.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$61,199$247,378▲ $186,179
Savings and Temporary Cash Investments$506,290$219,648▼ $286,642
Land, Buildings, and Equipment, Net$22,835$10,697▼ $12,138
Prepaid Expenses and Deferred Charges$7,329$9,155▲ $1,826
Cash and Non-Interest-Bearing Accounts$50$50→ $0
Total Assets$597,703$486,928▼ $110,775
Liabilities
Deferred Revenue$137,009$160,483▲ $23,474
Accounts Payable and Accrued Expenses$49,186$49,097▼ $89
Total Liabilities$186,195$209,580▲ $23,385
Net Assets / Fund Balance
Unrestricted Net Assets$253,248$174,156▼ $79,092
Temporarily Rstr Net Assets$158,260$103,192▼ $55,068
Total Net Assets Fund Balance$411,508$277,348▼ $134,160
Total Liabilities and Net Assets / Fund Balance$597,703$486,928▼ $110,775

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$10,697$109,615$120,312
Compensation and Service Providers
Top Officer Pay87th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Yellow Light BreenPresident & CEOFT$155,275$18,688$173,963

Board Members and Trustees

NameTitle
Skip BatesChair
Michael GawtryVice Chair
Patricia QuinnVice Chair
Alistair RaymondDirector
Darcy Main-BoyingtonDirector
Dr Susan HunterDirector
George GervaisDirector
Jeanne PaquetteDirector
Jonathan EdgertonDirector
Kevin HancockDirector
Kris DoodyDirector
Peter DelGrecoDirector
Susan CorbettDirector
Dan NadeauTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$568,825
Program Service Revenue
$647,896
Investment Income
$1,080
Other Revenue
$0
All Other Contributions
$557,875
Change in Net Assets
$-134,160

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,217,801
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,217,801
Total Revenue per Form 990
$1,217,801
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$659,700
Other Expenses$607,327
Grants and Similar Amounts Paid$84,934
Total Fundraising Expense$71,722
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$268,695$76,770$38,385$383,850
Fees for Services Other$248,941--$248,941
Current Officers, Directors, Trustees, and Key Employees$96,093$27,455$13,728$137,276
Conferences and Meetings$105,727$4,405-$110,132
Grants to Domestic Orgs$84,934--$84,934
Other Employee Benefits$54,551$15,586$7,793$77,930
Travel$35,412$11,183-$46,595
Occupancy$8,051$32,205-$40,256
Payroll Taxes$27,609$7,888$3,944$39,441
Office Expenses$22,939$8,823$3,529$35,291
Pension Plan Contributions$14,842$4,241$2,120$21,203
All Other Expenses$11,749$7,466$206$19,421
Depreciation Depletion$10,265$4,399-$14,664
Fees for Services Accounting-$12,333-$12,333
Other Expenses$9,396$7,380$820$8,200
Insurance-$4,430-$4,430
Total Functional Expenses$1,042,755$237,484$71,722$1,351,961

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,351,961
Total Expenses per Audited Statements$1,351,961
Total Expenses per Form 990$1,351,961
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Maine Community FoundationEllsworth, ME501(c)Funding for Maine Downtown Center program for the midcoast Maine area.$45,530
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, line 11B

“The President and Finance Manager are part of the 990 preparation process and review in final form before filing with the IRS.”

Form 990, Part VI, Section B, line 12C

“All staff, directors and officers of the Maine Development Foundation are required to sign a disclosure annually after receiving a copy of the conflict of interest policy.”

Form 990, Part VI, Section B, line 15

“The President/CEO is reviewed by the Board of Directors Executive Committee, including the Chair, Vice Chair, and Treasurer. Key employees are reviewed by the Executive Director. Officers do not receive compensation.”

Form 990, Part VI, Section C, line 19

“The organization provides copies upon request.”

Filing and Contact Details

Filer

Filer Name
Maine Development Foundation
EIN
01-0355563
Phone
2076226345
Address
295 Water Street No 5, Augusta, ME 04330

Signing Officer

Name
Yellow Breen
Title
President & CEO
Phone
2076226345
Signed
2017-05-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Yellow Breen
Formed
1978
Legal Domicile
Me
Voting Board Members
15
Independent Board Members
14
Employees
9
Volunteers
0

Preparer

Firm
Purdy Powers & Company
Address
130 Middle Street, Portland, ME 04101
Preparer
Richard E Emerson Jr CPA CVA
Phone
2077753496
Supplemental Narrative

Additional Explanations

Form 990, Part III, line 2

“The Forest Economy Project was launched in summer 2016 to support industry, community, and research leaders to develop and implement recommendations to strengthen and diversify Maine's forest industry and rural economies, supported initially by a 3-year federal Economic Development Administration grant to assist with supporting, coordinating, and reporting on Maine's forest economy recovery and revitalization effort.”

Form 990, Part IX, line 11G

“Consultants: Program service expenses 248,941. Management and general expenses 0. Fundraising expenses 0. Total expenses 248,941.”

Audit oversight responsibility Form 990, Part XII, Line 2C:

“This process has not changed from the prior year.”

Financial Statement Notes

Part X, Line 2:

“Management of the Organization believes it has no material uncertain tax positions and, accordingly it will not recognize any liability for unrecognized tax benefits.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/MissionDesc0The mission of the Maine Development Foundation is to foster sustainable, long-term economic growth for Maine. Its programs stimulate new ideas, help develop Maine's leaders, and provide common ground for solving problems and advancing important issues.
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IRS990/OtherEmployeeBenefitsGrp/TotalAmt077930
IRS990/OtherExpensesGrp/Desc0Miscellaneous
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IRS990/OtherExpensesGrp/Desc2Printing and publicatio
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IRS990/OtherExpensesGrp/FundraisingAmt1820
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2192
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IRS990/OtherExpensesGrp/ProgramServicesAmt29396
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IRS990/OtherExpensesGrp/TotalAmt29588
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IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt07888
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt09155
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IRS990/ProgramServiceRevenueGrp/BusinessCd1541900
IRS990/ProgramServiceRevenueGrp/BusinessCd2541900
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IRS990/ProgramServiceRevenueGrp/Desc1Program Fees
IRS990/ProgramServiceRevenueGrp/Desc2Miscellaneous
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1222453
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt218069
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1222453
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt218069
IRS990/ProgSrvcAccomActy2Grp/Desc0Leadership Maine offers participants a unique statewide learning opportunity, designed to build a broader pool of talented leaders in Maine to shape our state's future.
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IRS990/ProgSrvcAccomActy3Grp/Desc0The Forest Economy Project was launched in summer 2016 to support industry, community, and research leaders to develop and implement recommendations to strengthen and diversify Maine's forest industry and rural economies, supported initially by a 3-year federal Economic Development Administration grant to assist with supporting, coordinating, and reporting on Maine's forest economy recovery and revitalization effort.
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IRS990/ProgSrvcAccomActy3Grp/RevenueAmt0164858
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IRS990/ProgSrvcAccomActyOtherGrp/GrantAmt014615
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt0173471
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IRS990/PYInvestmentIncomeAmt0615
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IRS990/PYOtherRevenueAmt00
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IRS990/PYRevenuesLessExpensesAmt0-107854
IRS990/PYSalariesCompEmpBnftPaidAmt0673089
IRS990/PYTotalExpensesAmt01193335
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01085481
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-134160
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IRS990/ReportLandBuildingEquipmentInd01
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IRS990/ScheduleBRequiredInd01
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Management of the Organization believes it has no material uncertain tax positions and, accordingly it will not recognize any liability for unrecognized tax benefits.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
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Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$486,928
Liabilities
$209,580
Net assets
$277,348
Revenue
$1,217,801
Expenses
$1,351,961
Net income
-$134,160
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.97$0.93$0.04$2.97$3.00$0.04
2023Detailed filing. Detailed filing data is available for this year.$1.18$1.11$0.07$3.16$3.36$0.20
2022Detailed filing. Detailed filing data is available for this year.$1.92$1.65$0.27$2.80$2.74$0.06
2021Detailed filing. Detailed filing data is available for this year.$0.97$0.76$0.21$2.68$2.78$0.10
2020Detailed filing. Detailed filing data is available for this year.$1.57$1.26$0.31$2.52$2.60$0.08
2019Detailed filing. Detailed filing data is available for this year.$0.71$0.32$0.39$1.79$1.85$0.06
2018Detailed filing. Detailed filing data is available for this year.$0.79$0.34$0.45$1.79$1.86$0.06
2017Detailed filing. Detailed filing data is available for this year.$0.70$0.18$0.51$1.66$1.42$0.24
2016Detailed filing. Detailed filing data is available for this year.$0.49$0.21$0.28$1.22$1.35$0.13
2015Detailed filing. Detailed filing data is available for this year.$0.60$0.19$0.41$1.09$1.19$0.11
2014Detailed filing. Detailed filing data is available for this year.$0.69$0.17$0.52$2.02$2.04$0.02
2013Detailed filing. Detailed filing data is available for this year.$0.90$0.36$0.54$1.97$2.07$0.10
2012Summary only. Only limited summary data is available for this year.$0.98$0.34$0.64$1.56$1.25$0.31
2011Summary only. Only limited summary data is available for this year.$0.70$0.37$0.33$1.47$1.49$0.02