Maine Center for Economic Policy

“The form 990 (in draft pdf version) is sent to the full board to solicit comments. The finance committee recoemmends approval or adjustments to the 990. The executive committee is charged with final review and approval of the form 990 after receiving board comments and the finance committee's recommendation. A final approved copy is provided to all board members.”

“Staff will disclose any potential conflicts of interest at bimonthly staff meetings or by email to the executive director. The board bylaws require board members to inform the board of any conflict which any board member may have, and this discussion takes place at the quarterly board meetings. No formal questionnaire is provided.”

“The board reviews the execcutive director position by evaluating performance and compensation. In reviewing compansation, mecep relies on comparability data for this position, as well as looking at past history and budget flexibility.”

“There are no paid other officers or key employees. When reviewing other staff compensation, mecep also relies on both comparability data for vaious positions, as well as looking at past history and budget flexibility.”

“The organization is ready to offer copies of the governing documents (bylaws), its conflict of interest policy, and any financial statement requested at no charge, upon request. These cou ld be provided via email or hard copy (a reasonable copy charge may apply for large hard copy requests). Also, the form 990s are online at www.candid.org.”

“Mecep serves as a common paymaster for an unrelated organization, mecep action (a 501c4 organization) - unrelated per irs definitions, as majority board control does not exist. In 2024, the ed worked approx 85% time for maine center for economic policy and 15% time for mecep action. On form 990, commpansation board/officer listing (page 7) the total shown is the combined amount reportable on the organization's w2. On page 10, line 5, the ed salary and benefit total shown is solely mecep's c3 portion. Note that mecep action reimburses 100% of its portion of salaries, taxes, and fringe benefits to mecep on an ongoing basis.”

“Lines 15 & 17: mecep uses a modified cash basis of accounting - cash basis with certain exceptions, including an annual depreciation entry. Its other asset figure shows a recceivable from its affiliated 501c4 organization, mecep action (for shared expenses). The payable & accrual figure represents employee pension accruals.”