Civic Intelligence

Orono Economic Development Corp

EIN 01-0535770 • 501(c)4 • Orono, ME

990-N Coverage

Profile

Enhance economic development in the greater orono, me area by attracting new businesses and creating new jobs.

PO Box 335Orono, ME 04473

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

59th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)4 • <$500k nonprofits • Source year 2025

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on the latest valid filing.

Source year 2025

Net Margin

99th percentile

106%

Higher net margin than 99% of similar nonprofits.

501(c)4 • <$500k nonprofits • Source year 2025

Top Officer Pay

89th percentile

$0

Higher top officer pay than 89% of similar nonprofits.

501(c)4 • <$500k nonprofits • Source year 2025

Asset Growth

15th percentile

-61%

Faster asset growth than 15% of similar nonprofits.

501(c)4 • <$500k nonprofits • Annualized from 2024 to 2025

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets59th percentile

Assets

Down

$272,436

Down $426,425 (-61%) from 2024

Liabilities

Flat

$0

Flat from 2024

Net Assets

Down

$272,436

Down $426,425 (-61%) from 2024

Operations
Liabilities / RevenueScore unavailableNet Margin99th percentile

Revenue

Down

-$411,486

Down $490,400 (-621%) from 2024

Expenses

Down

$23,151

Down $14,029 (-38%) from 2024

Net Income

Down

-$434,637

Down $476,371 (-1141%) from 2024

Trend Graphs

Balance Sheet Trend

Asset Growth15th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0Assets 2011: $5,210,202Liabilities 2011: $4,302,494Net Assets 2011: $907,7082011Assets 2012: $4,955,392Liabilities 2012: $3,899,226Net Assets 2012: $1,056,1662012Assets 2013: $5,316,471Liabilities 2013: $4,071,136Net Assets 2013: $1,245,3352013Assets 2014: $4,690,887Liabilities 2014: $3,244,955Net Assets 2014: $1,445,9322014Assets 2015: $369,333Liabilities 2015: $290Net Assets 2015: $369,0432015Assets 2016: $358,334Liabilities 2016: $10,333Net Assets 2016: $348,0012016Assets 2017: $364,991Liabilities 2017: $0Net Assets 2017: $364,9912017Assets 2023: $641,532Liabilities 2023: $0Net Assets 2023: $641,5322023Assets 2024: $698,861Liabilities 2024: $0Net Assets 2024: $698,8612024Assets 2025: $272,436Liabilities 2025: $0Net Assets 2025: $272,4362025

Highlighted filing

2025

Assets$272,436
Liabilities$0
Net Assets$272,436
Open 2025 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income by year, with the latest filing highlighted.

$2.0M$1.0M$0-$1.0M-$2.0MRevenue 2011: $557,276Expenses 2011: $486,542Net Income 2011: $70,7342011Expenses 2012: $328,8082012Revenue 2013: $509,781Expenses 2013: $320,612Net Income 2013: $189,1692013Revenue 2014: $514,673Expenses 2014: $314,076Net Income 2014: $200,5972014Revenue 2015: $12,288Expenses 2015: $1,089,177Net Income 2015: -$1,076,8892015Revenue 2016: $8,766Expenses 2016: $39,103Net Income 2016: -$30,3372016Revenue 2017: $22,361Expenses 2017: $26,747Net Income 2017: -$4,3862017Revenue 2023: $250,713Expenses 2023: $16,919Net Income 2023: $233,7942023Revenue 2024: $78,914Expenses 2024: $37,180Net Income 2024: $41,7342024Revenue 2025: -$411,486Expenses 2025: $23,151Net Income 2025: -$434,6372025

Highlighted filing

2025

Revenue-$411,486
Expenses$23,151
Net Income-$434,637
Open 2025 Filing

Filings

Most recent year

2025 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$272,436
Liabilities
$0
Net assets
$272,436
Revenue
-$411,486
Expenses
$23,151
Net income
-$434,637
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.27$0.00$0.27$0.41$0.02$0.43
2024Detailed filing. Detailed filing data is available for this year.$0.70$0.00$0.70$0.08$0.04$0.04
2023Detailed filing. Detailed filing data is available for this year.$0.64$0.00$0.64$0.25$0.02$0.23
2017Detailed filing. Detailed filing data is available for this year.$0.36$0.00$0.36$0.02$0.03$0.00
2016Detailed filing. Detailed filing data is available for this year.$0.36$0.01$0.35$0.01$0.04$0.03
2015Detailed filing. Detailed filing data is available for this year.$0.37$0.00$0.37$0.01$1.09$1.08
2014Detailed filing. Detailed filing data is available for this year.$4.69$3.24$1.45$0.51$0.31$0.20
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.32$4.07$1.25$0.51$0.32$0.19
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.96$3.90$1.06$0.33
2011Summary only. Only limited summary data is available for this year.$5.21$4.30$0.91$0.56$0.49$0.07
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Oct 28, 2025
Return Version
2024v5.0
Gross Receipts
$69,840
Mission and Program Overview

Mission

Enhance economic development in the greater orono, me area by attracting new businesses and creating new jobs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$486,157--
Investments in Publicly Traded Securities$197,765$225,382▲ $27,617
Other Notes and Loans Receivable, Net-$45,000-
Cash and Non-Interest-Bearing Accounts$14,939$2,054▼ $12,885
Total Assets$698,861$272,436▼ $426,425
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$698,861$272,436▼ $426,425
Total Net Assets Fund Balance$698,861$272,436▼ $426,425
Total Liabilities and Net Assets / Fund Balance$698,861$272,436▼ $426,425
Compensation and Service Providers
Top Officer Pay89th percentile

Board Members and Trustees

NameTitle
Dave PickeringPresident
David ThompsonDirector
Geoffrey GordonDirector
John ParkerDirector
Lauren RossDirector
Nancy PriskDirector
Stephanie WelcomerDirector
Jacob BakerSecretary
Robert BassTreasurer
James GerrityVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$11,322
Program Service Revenue
$0
Investment Income
$-422,808
Other Revenue
$0
All Other Contributions
$11,322
Change in Net Assets
$-434,637
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$12,704
Grants and Similar Amounts Paid$10,447
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$10,447--$10,447
Depreciation Depletion$5,381--$5,381
Insurance$1,924--$1,924
Fees for Services Legal$1,140--$1,140
Fees for Services Accounting$800--$800
Office Expenses$204--$204
Other Expenses$35--$35
Total Functional Expenses$23,151$0$0$23,151
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Orono Land TrustOrono, ME501(c)Building Operations$9,447
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
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 11B

“A copy of the form 990 is provided to and reviewed by the treasurer and president prior to filing.”

Form 990, Page 6, Part VI, Line 19

“The organization makes it governing documents available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Orono Economic Development Corp
EIN
01-0535770
Phone
2079447554
Address
PO BOX 335, ORONO, ME 04473

Signing Officer

Name
Robert Bass
Title
Treasurer
Phone
2079447554
Signed
2025-10-28

Organization Details

Principal Officer
Robert Bass
Formed
2000
Legal Domicile
Me
Voting Board Members
10
Independent Board Members
10
Employees
0

Preparer

Firm
Freeman & Associates Cpas
Address
1020 STILLWATER AVENUE, BANGOR, ME 04401
Preparer
Michael P Jones CPA
Phone
2073867870
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4A

“The organization listed and sold its only commercial property at 3 godfrey drive in orono in 2015. The sale price allowed the organization to reimburse the town of orono for the outstanding balance on their building bond, and to invest in a reserve for future projects. In 2016, the organization hired wbrc architects and engineers to recommend a final "build-out" plan for the maine technology park. In 2018, the organization purchased the taylor bait property at 153 taylor road with the intent to renovate the building and property as a public, four-season outdoor center. The renovation was completed in late 2022. The organization is currently involved in a feasibility study of vernal pool special area management (samp) for orono, exploring redevelopment efforts related to an arts and cultural faciility in downtown, and working with the town of orono to repurpose certain town owned properties. On october 22, 2024, the organization successfully transferred (via donation and note receivable) the taylor road land and renovated building assets to the orono land trust for ongoing operations, stewardship, and public use.”

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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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IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt1ORONO LAND TRUST
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt02024-10-22
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt12024-10-22
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IRS990ScheduleN/DispositionOfAssetsDetail/EIN1010417249
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt0480776
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt19447
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION LISTED AND SOLD ITS ONLY COMMERCIAL PROPERTY AT 3 GODFREY DRIVE IN ORONO IN 2015. THE SALE PRICE ALLOWED THE ORGANIZATION TO REIMBURSE THE TOWN OF ORONO FOR THE OUTSTANDING BALANCE ON THEIR BUILDING BOND, AND TO INVEST IN A RESERVE FOR FUTURE PROJECTS. IN 2016, THE ORGANIZATION HIRED WBRC ARCHITECTS AND ENGINEERS TO RECOMMEND A FINAL "BUILD-OUT" PLAN FOR THE MAINE TECHNOLOGY PARK. IN 2018, THE ORGANIZATION PURCHASED THE TAYLOR BAIT PROPERTY AT 153 TAYLOR ROAD WITH THE INTENT TO RENOVATE THE BUILDING AND PROPERTY AS A PUBLIC, FOUR-SEASON OUTDOOR CENTER. THE RENOVATION WAS COMPLETED IN LATE 2022. THE ORGANIZATION IS CURRENTLY INVOLVED IN A FEASIBILITY STUDY OF VERNAL POOL SPECIAL AREA MANAGEMENT (SAMP) FOR ORONO, EXPLORING REDEVELOPMENT EFFORTS RELATED TO AN ARTS AND CULTURAL FACIILITY IN DOWNTOWN, AND WORKING WITH THE TOWN OF ORONO TO REPURPOSE CERTAIN TOWN OWNED PROPERTIES. ON OCTOBER 22, 2024, THE ORGANIZATION SUCCESSFULLY TRANSFERRED (VIA DONATION AND NOTE RECEIVABLE) THE TAYLOR ROAD LAND AND RENOVATED BUILDING ASSETS TO THE ORONO LAND TRUST FOR ONGOING OPERATIONS, STEWARDSHIP, AND PUBLIC USE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE FORM 990 IS PROVIDED TO AND REVIEWED BY THE TREASURER AND PRESIDENT PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES IT GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/UponRequestInd0X
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/PersonNm0ROBERT BASS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum02079447554
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-10-28
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ORONO ECONOMIC DEVELOPMENT CORP
ReturnHeader/Filer/BusinessNameControlTxt0ORON
ReturnHeader/Filer/EIN0010535770
ReturnHeader/Filer/PhoneNum02079447554
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 335
ReturnHeader/Filer/USAddress/CityNm0ORONO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0ME
ReturnHeader/Filer/USAddress/ZIPCd004473
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0931562211
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0FREEMAN & ASSOCIATES CPAS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01020 STILLWATER AVENUE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BANGOR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0ME
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd004401
ReturnHeader/PreparerPersonGrp/PhoneNum02073867870
ReturnHeader/PreparerPersonGrp/PreparationDt02025-10-28
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MICHAEL P JONES CPA
ReturnHeader/ReturnTs02025-10-28T14:50:11-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-07-01
ReturnHeader/TaxPeriodEndDt02025-06-30
ReturnHeader/TaxYr02024

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