Civic Intelligence

Laudholm Trust

990 • Fiscal year 2023 • EIN 01-0380763

Jul 01, 2022 to Jun 30, 2023 • Filed on May 01, 2024

Organization ProfileWWW.LAUDHOLM.ORG

View Organization Page

PO Box 1007Wells, ME 04090

(207) 646-4521

Siviq Scores

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

Liabilities / Assets

18th percentile

0.02x

Higher debt load relative to assets than 18% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

42nd percentile

0.18x

Higher debt load relative to revenue than 42% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Net Margin

21st percentile

-9.2%

Higher net margin than 21% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

28th percentile

$121,698

Higher top officer pay than 28% of similar nonprofits.

Top officer pay equals 12.7% of source-year revenue.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Asset Growth

62nd percentile

10%

Faster asset growth than 62% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

73rd percentile

21%

Faster revenue growth than 73% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets18th percentile

Assets

Up

$11,057,109

Up $1,037,029 (+10%) from 2022

Net Assets

Up

$10,884,804

Up $1,038,160 (+11%) from 2022

Liabilities

Down

$172,305

Down $1,131 (-0.7%) from 2022

Revenue And Expenses
Liabilities / Revenue42nd percentileNet Margin21st percentile

Revenue

Up

$954,746

Up $163,277 (+21%) from 2022

Expenses

Up

$1,042,242

Up $180,404 (+21%) from 2022

Net Income

Down

-$87,496

Down $17,127 (-24%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth62nd percentile

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

$15M$10M$5.0M$0Assets 2011: $4,645,025Liabilities 2011: $28,927Net Assets 2011: $4,616,0982011Assets 2012: $4,675,447Liabilities 2012: $16,172Net Assets 2012: $4,659,2752012Assets 2013: $5,239,755Liabilities 2013: $161,071Net Assets 2013: $5,078,6842013Assets 2014: $5,830,119Liabilities 2014: $156,331Net Assets 2014: $5,673,7882014Assets 2015: $6,149,066Liabilities 2015: $146,936Net Assets 2015: $6,002,1302015Assets 2016: $6,321,385Liabilities 2016: $171,969Net Assets 2016: $6,149,4162016Assets 2017: $6,863,203Liabilities 2017: $187,900Net Assets 2017: $6,675,3032017Assets 2018: $7,576,018Liabilities 2018: $137,806Net Assets 2018: $7,438,2122018Assets 2019: $8,640,811Liabilities 2019: $122,809Net Assets 2019: $8,518,0022019Assets 2020: $8,960,755Liabilities 2020: $103,747Net Assets 2020: $8,857,0082020Assets 2021: $11,093,947Liabilities 2021: $149,724Net Assets 2021: $10,944,2232021Assets 2022: $10,020,080Liabilities 2022: $173,436Net Assets 2022: $9,846,6442022Assets 2023: $11,057,109Liabilities 2023: $172,305Net Assets 2023: $10,884,8042023Assets 2024: $11,913,136Liabilities 2024: $131,683Net Assets 2024: $11,781,4532024

Highlighted filing

2023

Assets$11,057,109
Liabilities$172,305
Net Assets$10,884,804
Open 2023 Filing

Operations Trend

Revenue Growth73rd percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2011: $635,6012011Expenses 2012: $558,2692012Revenue 2013: $649,647Expenses 2013: $589,591Net Income 2013: $60,0562013Revenue 2014: $627,396Expenses 2014: $585,369Net Income 2014: $42,0272014Revenue 2015: $852,972Expenses 2015: $688,586Net Income 2015: $164,3862015Revenue 2016: $732,298Expenses 2016: $607,334Net Income 2016: $124,9642016Revenue 2017: $799,896Expenses 2017: $685,443Net Income 2017: $114,4532017Revenue 2018: $995,113Expenses 2018: $694,999Net Income 2018: $300,1142018Revenue 2019: $849,679Expenses 2019: $678,988Net Income 2019: $170,6912019Revenue 2020: $882,063Expenses 2020: $805,775Net Income 2020: $76,2882020Revenue 2021: $1,024,210Expenses 2021: $773,708Net Income 2021: $250,5022021Revenue 2022: $791,469Expenses 2022: $861,838Net Income 2022: -$70,3692022Revenue 2023: $954,746Expenses 2023: $1,042,242Net Income 2023: -$87,4962023Revenue 2024: $872,511Expenses 2024: $1,057,387Net Income 2024: -$184,8762024

Highlighted filing

2023

Revenue$954,746
Expenses$1,042,242
Net Income-$87,496
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 1, 2024
Return Version
2022v5.0
Gross Receipts
$1,003,175
Mission and Program Overview

Mission

Laudholm trust is dedicated to advancing the coastal research, education, and stewardship programs of the wells reserve and to preserving its historic buildings. Laudholm strives to extend its unique legacy by galvanizing community support and inspiring actions that protect maine's coastal environment.

Laudholm trust is dedicated to advancing the coastal research, education, and stewardship programs of the wells reserve and to preserving its historic buildings. Laudholm trust strives to extend its unique legacy by galvanizing community support and inspiring actions that protect maine's coastal environment.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$7,409,475$9,134,068▲ $1,724,593
Savings and Temporary Cash Investments$1,284,757$538,207▼ $746,550
Land, Buildings, and Equipment, Net$102,268$105,512▲ $3,244
Cash and Non-Interest-Bearing Accounts$41,571$45,412▲ $3,841
Pledges and Grants Receivable$25,000$10,000▼ $15,000
Prepaid Expenses and Deferred Charges-$7,513-
Accounts Receivable$9,549$5,374▼ $4,175
Inventories for Sale or Use$2,980$4,918▲ $1,938
Total Assets$10,020,080$11,057,109▲ $1,037,029
Other Assets Total$1,144,480$1,206,105▲ $61,625
Liabilities
Deferred Revenue$149,018$145,620▼ $3,398
Accounts Payable and Accrued Expenses$24,418$19,860▼ $4,558
Other Liabilities-$6,825-
Total Liabilities$173,436$172,305▼ $1,131
Net Assets / Fund Balance
Net Assets With Donor Restrictions$7,053,815$7,724,407▲ $670,592
Net Assets Without Donor Restrictions$2,792,829$3,160,397▲ $367,568
Total Net Assets Fund Balance$9,846,644$10,884,804▲ $1,038,160
Total Liabilities and Net Assets / Fund Balance$10,020,080$11,057,109▲ $1,037,029

Asset Categories

AssetBook ValueDepreciationBasis
Land$97,950-$97,950
Equipment$7,562$12,537$20,099
Other Assets Org$6,825--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$8,373,958$214,908▲ $1,142,176$232,420$9,498,622
2022$9,380,134$7,742▼ $764,900$248,712$8,374,264
2021$7,444,667$217,787▲ $1,973,659$255,979$9,380,134
2020$7,050,370$17,503▲ $603,022$226,228$7,444,667
2019$6,107,584$3,443▲ $1,109,993$170,651$7,050,370
Compensation and Service Providers
Top Officer Pay28th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Nicholas CharovPresidentFT$97,349$24,349$121,698

Board Members and Trustees

NameTitle
Hal MullerChair
Bruce BjorkVice Chair &
Beth GearyTrustee
David ForestTrustee
Denise LarocheTrustee
Jen LavinTrustee
John CarpenterTrustee
Margo SmithTrustee
Stephen GiannettiTrustee
Sue RiouxTrustee
Mark BalfantzClerk & Coun
Penny SpauldingSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$601,654
Program Service Revenue
$0
Investment Income
$136,672
Other Revenue
$216,420
All Other Contributions
$408,185
Change in Net Assets
$-87,496

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Works of Art1$4,747Fair Market Value
Other Non Cash Contri Table3$4,500Fair Market Value
Other Non Cash Contri Table2$810Fair Market Value
Total Noncash Contributions6$10,057-

Audited Revenue Reconciliation

Revenue per Audited Statements
$917,504
Revenue Not Reported on Financial Statements
$37,242
Revenue Not Reported on Form 990
$1,125,656
Total Revenue per Audited Statements
$2,043,160
Total Revenue per Form 990
$954,746
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$520,505
Salaries, Compensation, and Employee Benefits$354,800
Total Fundraising Expense$187,960
Other Expenses$166,937
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$520,505--$520,505
Other Salaries and Wages$37,472$49,111$70,673$157,256
Current Officers, Directors, Trustees, and Key Employees$31,579$37,662$55,054$124,295
Other Employee Benefits$14,938$12,679$19,832$47,449
Office Expenses$28,732$2,419$11,987$43,138
Fees for Service Investment Mgmnt Fees-$37,242-$37,242
Fees for Services Other$500$12,782$10,177$23,459
Payroll Taxes$4,147$7,088$6,811$18,046
Fees for Services Accounting-$17,750-$17,750
Advertising$12,307--$12,307
Pension Plan Contributions$2,441$2,072$3,241$7,754
Insurance-$6,396-$6,396
Travel--$3,617$3,617
Depreciation Depletion-$1,504-$1,504
Other Expenses$5,070$695$6,107$695
All Other Expenses$83$118$167$368
Total Functional Expenses$666,469$187,813$187,960$1,042,242

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$1,042,242
Expenses per Audited Statements$1,005,000
Total Expenses per Audited Statements$1,005,000
Expenses Not Reported on Financial Statements$37,242
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Wells National Estuarine Research RWells, ME170c1Support$520,505
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$137,298
Fundraising Direct Expenses$29,702
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Other Events$144,478$137,298$29,702$107,596
Total Events$144,478$137,298$29,702$107,596
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Nicholas Charov PresidentBoard MemberFunding ProvidedNo$520,505
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Right of Use Liability$6,825
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 35% controlled entity
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
No
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, Page 6, Part VI, Line 6

“The organization consists of members who must pay annual dues fixed by the board of trustees.”

Form 990, Page 6, Part VI, Line 7A

“The members elect the trustees and the trustees elect the officers of the board.”

Form 990, Page 6, Part VI, Line 11B

“The form 990 is reviewed by the president, the treasurer, and the board of trustees before being filed. They are also available online at wellsreserve.org and are emailed to members.”

Form 990, Page 6, Part VI, Line 12C

“The organization regularly and consistently monitors and enforces compliance with the policy by monitoring the board and employees.”

Form 990, Page 6, Part VI, Line 15A

“A yearly review of the maine association of non-profit salary and benefits survey is utilized to determine compensation.”

Form 990, Page 6, Part VI, Line 19

“The organization's governing documents and financial statements are available at the office of laudholm trust upon request. They are also available at the annual meeting and sent to members annually.”

Filing and Contact Details

Filer

Filer Name
Laudholm Trust
EIN
01-0380763
Phone
2076464521
Address
PO BOX 1007, WELLS, ME 04090

Signing Officer

Name
Nicholas Charov
Title
President
Phone
2076464521
Signed
2024-05-01

Organization Details

Principal Officer
Nicholas Charov
Formed
1982
Legal Domicile
Me
Voting Board Members
12
Independent Board Members
12
Employees
6
Volunteers
200

Preparer

Firm
Runyon Kersteen Ouellette
Address
20 LONG CREEK DR, SOUTH PORTLAND, ME 04106
Preparer
Amy Chasse
Phone
2077732986
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Laudholm trust is dedicated to advancing the coastal research, education, and stewardship programs of the wells reserve and to preserving its historic buildings. Laudholm trust strives to extend its unique legacy by galvanizing community support and inspiring actions that protect maine's coastal environment.”

Form 990, Part XI, Line 9

“Change in value of perpetual trusts 54,800 change in annuity obligations -6,000 total 48,800”

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

“Endowment funds are used to support the organization's primary tax exempt purpose of supporting the wells national estuarine research reserve. The income from permanently restricted endowment funds is used in support of educational and research programs, as intended by donors.”

Schedule D, Page 3, Part X

“Accounting principles generally accepted in the united states of america requires management to evaluate tax positions taken by the trust and recognize a tax liability if the trust has taken an uncertain tax position that more likely than not would not be sustained upon examination by the internal revenue service and state taxing authorities. The trust is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.”

Schedule D, Page 4, Part XI, Line 2D

“Change in value of perpetual trusts 54,800 change in annuity obligations -6,000”

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Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$11,057,109
Liabilities
$172,305
Net assets
$10,884,804
Revenue
$954,746
Expenses
$1,042,242
Net income
-$87,496
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$11.9$0.13$11.8$0.87$1.06$0.18
2023Detailed filing. Detailed filing data is available for this year.$11.1$0.17$10.9$0.95$1.04$0.09
2022Detailed filing. Detailed filing data is available for this year.$10.0$0.17$9.85$0.79$0.86$0.07
2021Detailed filing. Detailed filing data is available for this year.$11.1$0.15$10.9$1.02$0.77$0.25
2020Detailed filing. Detailed filing data is available for this year.$8.96$0.10$8.86$0.88$0.81$0.08
2019Detailed filing. Detailed filing data is available for this year.$8.64$0.12$8.52$0.85$0.68$0.17
2018Summary only. Only limited summary data is available for this year.$7.58$0.14$7.44$1.00$0.69$0.30
2017Detailed filing. Detailed filing data is available for this year.$6.86$0.19$6.68$0.80$0.69$0.11
2016Detailed filing. Detailed filing data is available for this year.$6.32$0.17$6.15$0.73$0.61$0.12
2015Detailed filing. Detailed filing data is available for this year.$6.15$0.15$6.00$0.85$0.69$0.16
2014Detailed filing. Detailed filing data is available for this year.$5.83$0.16$5.67$0.63$0.59$0.04
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.24$0.16$5.08$0.65$0.59$0.06
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.68$0.02$4.66$0.56
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.65$0.03$4.62$0.64
Peer Organizations

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