Civic Intelligence

Northern Maine Development Commission Inc.

990 • Fiscal year 2023 • EIN 22-2635303

Jul 01, 2022 to Jun 30, 2023 • Filed on May 14, 2024

Organization Profilewww.nmdc.org

View Organization Page

11 West Presque Isle RoadCaribou, ME 04736

(207) 498-8736

Siviq Scores

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

Liabilities / Assets

51st percentile

0.23x

Higher debt load relative to assets than 51% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Liabilities / Revenue

62nd percentile

0.49x

Higher debt load relative to revenue than 62% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Net Margin

95th percentile

68%

Higher net margin than 95% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Top Officer Pay

22nd percentile

$152,510

Higher top officer pay than 22% of similar nonprofits.

Top officer pay equals 1.2% of source-year revenue.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Asset Growth

89th percentile

43%

Faster asset growth than 89% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Revenue Growth

5th percentile

-55%

Faster revenue growth than 5% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets51st percentile

Assets

Flat

$27,286,195

Flat from 2023

Net Assets

Flat

$21,046,707

Flat from 2023

Liabilities

Flat

$6,239,488

Flat from 2023

Revenue And Expenses
Liabilities / Revenue62nd percentileNet Margin95th percentile

Revenue

Flat

$12,637,728

Flat from 2023

Expenses

Flat

$4,030,581

Flat from 2023

Net Income

Flat

$8,607,147

Flat from 2023

Historical Trend

Balance Sheet Trend

Asset Growth89th percentile

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

$30M$20M$10M$0Assets 2012: $11,956,238Liabilities 2012: $5,776,510Net Assets 2012: $6,179,7282012Assets 2013: $13,654,576Liabilities 2013: $7,994,414Net Assets 2013: $5,660,1622013Assets 2014: $13,488,238Liabilities 2014: $7,120,786Net Assets 2014: $6,367,4522014Assets 2015: $13,252,402Liabilities 2015: $7,340,718Net Assets 2015: $5,911,6842015Assets 2016: $13,058,860Liabilities 2016: $7,434,498Net Assets 2016: $5,624,3622016Assets 2017: $13,237,129Liabilities 2017: $7,201,832Net Assets 2017: $6,035,2972017Assets 2018: $12,379,225Liabilities 2018: $6,705,473Net Assets 2018: $5,673,7522018Assets 2019: $11,857,176Liabilities 2019: $6,213,088Net Assets 2019: $5,644,0882019Assets 2020: $12,146,172Liabilities 2020: $6,390,728Net Assets 2020: $5,755,4442020Assets 2021: $20,810,299Liabilities 2021: $10,096,629Net Assets 2021: $10,713,6702021Assets 2022: $19,059,929Liabilities 2022: $6,620,369Net Assets 2022: $12,439,5602022Assets 2023: $27,286,195Liabilities 2023: $6,239,488Net Assets 2023: $21,046,7072023Assets 2023: $27,286,195Liabilities 2023: $6,239,488Net Assets 2023: $21,046,7072023

Highlighted filing

2023

Assets$27,286,195
Liabilities$6,239,488
Net Assets$21,046,707
Open 2023 Filing

Operations Trend

Revenue Growth5th percentile

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

$40M$30M$20M$10M$0-$10MRevenue 2012: $5,891,557Expenses 2012: $6,231,955Net Income 2012: -$340,3982012Revenue 2013: $6,593,708Expenses 2013: $6,990,046Net Income 2013: -$396,3382013Revenue 2014: $8,456,571Expenses 2014: $7,749,281Net Income 2014: $707,2902014Revenue 2015: $6,852,610Expenses 2015: $7,224,717Net Income 2015: -$372,1072015Revenue 2016: $4,576,756Expenses 2016: $4,864,078Net Income 2016: -$287,3222016Revenue 2017: $3,008,770Expenses 2017: $2,597,835Net Income 2017: $410,9352017Revenue 2018: $2,673,671Expenses 2018: $3,035,216Net Income 2018: -$361,5452018Revenue 2019: $2,999,105Expenses 2019: $3,028,769Net Income 2019: -$29,6642019Revenue 2020: $3,395,037Expenses 2020: $3,283,681Net Income 2020: $111,3562020Revenue 2021: $32,269,814Expenses 2021: $27,464,834Net Income 2021: $4,804,9802021Revenue 2022: $27,868,170Expenses 2022: $26,142,280Net Income 2022: $1,725,8902022Revenue 2023: $12,637,728Expenses 2023: $4,030,581Net Income 2023: $8,607,1472023Revenue 2023: $12,637,728Expenses 2023: $4,030,581Net Income 2023: $8,607,1472023

Highlighted filing

2023

Revenue$12,637,728
Expenses$4,030,581
Net Income$8,607,147
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 14, 2024
Return Version
2022v5.0
Gross Receipts
$12,637,728
Mission and Program Overview

Mission

To serve the northern Maine region with effective regional community planning and economic development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$12,051,486$24,090,832▲ $12,039,346
Savings and Temporary Cash Investments$4,996,878$2,684,856▼ $2,312,022
Pledges and Grants Receivable$745,750--
Land, Buildings, and Equipment, Net$383,768$351,735▼ $32,033
Accounts Receivable$797,516$120,983▼ $676,533
Prepaid Expenses and Deferred Charges$18,792$37,789▲ $18,997
Total Assets$19,059,929$27,286,195▲ $8,226,266
Other Assets Total$65,739--
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,193,042$5,256,311▲ $63,269
Accounts Payable and Accrued Expenses$1,175,471$731,321▼ $444,150
Deferred Revenue$251,856$251,856→ $0
Total Liabilities$6,620,369$6,239,488▼ $380,881
Net Assets / Fund Balance
Net Assets With Donor Restrictions$10,060,259$15,871,919▲ $5,811,660
Net Assets Without Donor Restrictions$2,379,301$5,174,788▲ $2,795,487
Total Net Assets Fund Balance$12,439,560$21,046,707▲ $8,607,147
Total Liabilities and Net Assets / Fund Balance$19,059,929$27,286,195▲ $8,226,266

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$325,056$1,403,472$1,728,528
Equipment$26,679$525,644$552,323
Compensation and Service Providers
Top Officer Pay22nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Robert ClarkExecutive DirectorFT$152,510$152,510

Board Members and Trustees

NameTitle
Gary PicardChair
Sandra FournierChair
Suzie ParadisVice Chair
Alan MulherinDirector
Cyr MartinDirector
David CyrDirector
Diane HinesDirector
Donna TurnerDirector
James GehringDirector
Jim GardnerDirector
John SutherlandDirector
Kelly GarrisonDirector
Kevin BouchardDirector
Kim DenbowDirector
Lana VoisineDirector
Luke DyerDirector
Martin DionneDirector
Max LyndsDirector
Michelle BernierDirector
Patricia SutherlandDirector
Penny ThompsonDirector
Royden HuntDirector
William DobbinsDirector
Galen WeibleySecretary
Norman FournierTreasurer
Steve PelletierTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$8,780,055
Program Service Revenue
$3,444,204
Investment Income
$1,063
Other Revenue
$412,406
All Other Contributions
$6,696
Change in Net Assets
$8,607,147

Audited Revenue Reconciliation

Revenue per Audited Statements
$12,637,728
Total Revenue per Audited Statements
$12,637,728
Total Revenue per Form 990
$12,637,728
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,965,506
Salaries, Compensation, and Employee Benefits$65,075
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$2,138,132--$2,138,132
Office Expenses$1,061,905--$1,061,905
Interest$133,284--$133,284
Other Salaries and Wages$65,075--$65,075
Fees for Services Other$45,341--$45,341
Depreciation Depletion-$37,772-$37,772
Travel$19,656--$19,656
Other Expenses$4,862--$4,862
Total Functional Expenses$3,992,809$37,772$0$4,030,581

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,030,581
Total Expenses per Audited Statements$4,030,581
Total Expenses per Form 990$4,030,581
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
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
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
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 A, Line 6 7A

“The Board of Directors must ratify all contracts, grants, committee members, changes to policies, etc. They provide general guidance. Members are appointed to represent the towns who pay dues.”

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

“The 990 is reviewed by the Finance Committee and makes recommendations to the Executive Board on the acceptance of the report. The report is highlighted for the Executive Board by the Finance Director and a vote is taken for their acceptance.”

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

“Officers sign a conflict of interest policy annually to ensure compliance with the policy. Additionally, Board members are asked if they have a conflict with any agenda item before the meeting starts and if so, they declare it.”

Form 990, Part VI, Section B, Line 15A 15B

“It is the policy of NMDC that if a raise exceeds 3 it must be approved by the Board. Only merit raises are given. The Board approves the salary budget. Supervisors suggest the percentage of the raise, but it is approved by the Executive Director and Finance Director, and the Board if it exceeds 3. The Executive Director reviews the Finance Director and the Board reviews the Executive Director.”

Form 990, Part VI, Section C, Line 19

“The documents are available upon request.”

Form 990, Part VI, Section A, Line 9

“Gary Picard - 328 Thomas St Suite 101 Madawaska, ME 04756 Nancy Troeger - 51 Main St Suite 1 Van Buren, ME 04785”

Filing and Contact Details

Filer

Filer Name
Northern Maine Development Commission
EIN
22-2635303
Phone
2074988736
Address
11 West Presque Isle Road, Caribou, ME 04736

Signing Officer

Name
Robert Clark
Title
Executive Director
Phone
2074988736
Signed
2024-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Clark
Formed
1969
Legal Domicile
Me
Voting Board Members
24
Independent Board Members
24
Employees
23
Volunteers
52

Preparer

Firm
RHR Smith & Company
Address
3 Old Orchard Rd, Buxton, ME 04093
Preparer
Ronald Smith
Phone
2079294606
Supplemental Narrative

Financial Statement Notes

X 2

“The Commission is exempt from federal income taxes under Section 501c 3 of the Internal Revenue Code and applicable state law. The accounting standards on accounting for uncertainty in income taxes address the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under that guidance, the Commission may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities based on the technical merits of the position. Examples of tax positions include the tax-exempt status of the Commission and various positions related to the potential sources of unrelated business taxable income. The tax benefits recognized in the financial statements from a tax position are measured based on the largest benefit that has a greater than 50 likelihood of being realized upon ultimate settlement. Management believes that there were no potential sources of unrelated business taxable income subject to tax for the year ended June 30, 2023. Accordingly, no provision for income taxes has been made. The Commission files its forms 990 in the U.S. federal jurisdiction and the office of the states attorney general for the State of Maine. The Commission is generally no longer subject to examination by the Internal Revenue Service for years before 2020.”

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IRS990/Form990PartVIISectionAGrp/PersonNm1Gary Picard
IRS990/Form990PartVIISectionAGrp/PersonNm2Sandra Fournier
IRS990/Form990PartVIISectionAGrp/PersonNm3Norman Fournier
IRS990/Form990PartVIISectionAGrp/PersonNm4Kelly Garrison
IRS990/Form990PartVIISectionAGrp/PersonNm5Jim Gardner
IRS990/Form990PartVIISectionAGrp/PersonNm6Michelle Bernier
IRS990/Form990PartVIISectionAGrp/PersonNm7Diane Hines
IRS990/Form990PartVIISectionAGrp/PersonNm8Max Lynds
IRS990/Form990PartVIISectionAGrp/PersonNm9David Cyr
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IRS990/Form990PartVIISectionAGrp/TitleTxt1Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt2Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt3Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Director
IRS990/Form990PartVIISectionAGrp/TitleTxt11Vice Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt12Director
IRS990/Form990PartVIISectionAGrp/TitleTxt13Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt14Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt15Director
IRS990/Form990PartVIISectionAGrp/TitleTxt16Director
IRS990/Form990PartVIISectionAGrp/TitleTxt17Director
IRS990/Form990PartVIISectionAGrp/TitleTxt18Director
IRS990/Form990PartVIISectionAGrp/TitleTxt19Director
IRS990/Form990PartVIISectionAGrp/TitleTxt20Director
IRS990/Form990PartVIISectionAGrp/TitleTxt21Director
IRS990/Form990PartVIISectionAGrp/TitleTxt22Director
IRS990/Form990PartVIISectionAGrp/TitleTxt23Director
IRS990/Form990PartVIISectionAGrp/TitleTxt24Director
IRS990/Form990PartVIISectionAGrp/TitleTxt25Director
IRS990/Form990PartVIISectionAGrp/TitleTxt26Director
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IRS990/ProgSrvcAccomActy2Grp/Desc0Community Fund- Provides support for all the areas of program services to the Agency.
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IRS990/ProgSrvcAccomActy3Grp/Desc0Revolving Loan Fund- Financing to local businesses involved in agriculture or manufacturing, to assist in the creation of jobs and strengthen the economy in Northern Maine.
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$27,286,195
Liabilities
$6,239,488
Net assets
$21,046,707
Revenue
$12,637,728
Expenses
$4,030,581
Net income
$8,607,147
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$27.3$6.24$21.0$12.6$4.03$8.61
2023Summary only. Only limited summary data is available for this year.$27.3$6.24$21.0$12.6$4.03$8.61
2022Summary only. Only limited summary data is available for this year.$19.1$6.62$12.4$27.9$26.1$1.73
2021Summary only. Only limited summary data is available for this year.$20.8$10.1$10.7$32.3$27.5$4.80
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.1$6.39$5.76$3.40$3.28$0.11
2019Summary only. Only limited summary data is available for this year.$11.9$6.21$5.64$3.00$3.03$0.03
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.4$6.71$5.67$2.67$3.04$0.36
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.2$7.20$6.04$3.01$2.60$0.41
2016Detailed filing. Detailed filing data is available for this year.$13.1$7.43$5.62$4.58$4.86$0.29
2015Detailed filing. Detailed filing data is available for this year.$13.3$7.34$5.91$6.85$7.22$0.37
2014Detailed filing. Detailed filing data is available for this year.$13.5$7.12$6.37$8.46$7.75$0.71
2013Summary only. Only limited summary data is available for this year.$13.7$7.99$5.66$6.59$6.99$0.40
2012Summary only. Only limited summary data is available for this year.$12.0$5.78$6.18$5.89$6.23$0.34