MAINE STATE CHAMBER OF COMMERCE

EIN: 010021545

AUGUSTA, ME

Total Revenue
$2,270,959
Total Expenses
$2,195,949
Total Assets
$1,648,532
Net Assets
$168,850
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1995
Legal Domicile
ME
Principal Officer
LUANN BALLESTEROS
Phone
2076234568
Tax Period
2022-07-01 to 2023-06-30

MAINE STATE CHAMBER OF COMMERCE, founded in 1995, is a community nonprofit that reported $2.3M in total revenue in fiscal year 2022. Expenses of $2.2M left a modest 3% surplus.

Mission

SUPPORT AND STRENGTHEN MAINE BUSINESS

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $1,280,827
Program Service Revenue $849,663
Investment Income $-1,009
Other Revenue $141,478
TOTAL REVENUE $2,270,959

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,155,660
Fundraising Expenses $0
Other Expenses $1,040,289
TOTAL EXPENSES $2,195,949

Year-over-Year Comparison

2022 2021 Change
Revenue $2,270,959 $2,213,591 +0.0%
Expenses $2,195,949 $2,238,096 0.0%
Net Income $75,010 $-24,505 -4.1%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
90
Independent Members
90
Employees
18
Volunteers
90

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$229,705
Total Directors
90
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LUANN BALLESTEROS BOARD CHAIR 2.00
Officer Director
$0 $0 $0
CLIFTON GREIM IMMEDIATE PAST CHAIR 2.00
Officer Director
$0 $0 $0
BOB MONTGOMERY-RICE VICE CHAIR 2.00
Officer Director
$0 $0 $0
ANN ROBINSON SECOND VICE CHAIR 2.00
Officer Director
$0 $0 $0
DAVID AUSTIN DIRECTOR 2.00
Director
$0 $0 $0
DAVID BARBER DIRECTOR 2.00
Director
$0 $0 $0
LARRY BARKER DIRECTOR 2.00
Director
$0 $0 $0
JAMES BARRETT DIRECTOR 2.00
Director
$0 $0 $0
JOHN BATEMAN DIRECTOR 2.00
Director
$0 $0 $0
GEOFFREY BAUR DIRECTOR 2.00
Director
$0 $0 $0
PETER BLACK DIRECTOR 2.00
Director
$0 $0 $0
PAUL BOLIN DIRECTOR 2.00
Director
$0 $0 $0
KATHERINE BOURQUE DIRECTOR 2.00
Director
$0 $0 $0
MICHAEL BOURQUE DIRECTOR 2.00
Director
$0 $0 $0
BRIAN BOWMAN DIRECTOR 2.00
Director
$0 $0 $0
TOM BRENNAN DIRECTOR 2.00
Director
$0 $0 $0
DANA BULLEN DIRECTOR 2.00
Director
$0 $0 $0
DONNA CASSESE DIRECTOR 2.00
Director
$0 $0 $0
MELINDA CATERINE DIRECTOR 2.00
Director
$0 $0 $0
ERIK CLAPP DIRECTOR 2.00
Director
$0 $0 $0
JAMES COHEN DIRECTOR 2.00
Director
$0 $0 $0
DAVID COLTER DIRECTOR 2.00
Director
$0 $0 $0
PETER CONNELL DIRECTOR 2.00
Director
$0 $0 $0
JAMES COTE DIRECTOR 2.00
Director
$0 $0 $0
MATTHEW COTE DIRECTOR 2.00
Director
$0 $0 $0
ERIC CYR DIRECTOR 2.00
Director
$0 $0 $0
SARAH DAVIS DIRECTOR 2.00
Director
$0 $0 $0
DAN EMERSON DIRECTOR 2.00
Director
$0 $0 $0
KATIE DOHERTY DIRECTOR 2.00
Director
$0 $0 $0
ALLISON ECONOMY DIRECTOR 2.00
Director
$0 $0 $0
DAJUAN EUBANKS DIRECTOR 2.00
Director
$0 $0 $0
STACEY FITTS DIRECTOR 2.00
Director
$0 $0 $0
JON FITZGERALD DIRECTOR 2.00
Director
$0 $0 $0
JOHN FLYNN DIRECTOR 2.00
Director
$0 $0 $0
ROBERT FRANK DIRECTOR 2.00
Director
$0 $0 $0
JAMES SLOTNICK DIRECTOR 2.00
Director
$0 $0 $0
LYNN FRAZIER DIRECTOR 2.00
Director
$0 $0 $0
TONY GRANDE DIRECTOR 2.00
Director
$0 $0 $0
BETH GREENLAW DIRECTOR 2.00
Director
$0 $0 $0
QUINCY HENTZEL DIRECTOR 2.00
Director
$0 $0 $0
CHRISTOPHER K HODGDON DIRECTOR 2.00
Director
$0 $0 $0
STEVEN A HUDSON DIRECTOR 2.00
Director
$0 $0 $0
ERIC JERMYN DIRECTOR 2.00
Director
$0 $0 $0
WICK JOHNSON DIRECTOR 2.00
Director
$0 $0 $0
CHRISTOPHER KARCHER DIRECTOR 2.00
Director
$0 $0 $0
JOHN KAYSER DIRECTOR 2.00
Director
$0 $0 $0
BRIAN KING DIRECTOR 2.00
Director
$0 $0 $0
CORY KING DIRECTOR 2.00
Director
$0 $0 $0
PETER KINGSTON DIRECTOR 2.00
Director
$0 $0 $0
MELINDA KINNEY DIRECTOR 2.00
Director
$0 $0 $0
JUDY KNAPP DIRECTOR 2.00
Director
$0 $0 $0
STEPHEN KROLIKOWSKI DIRECTOR 2.00
Director
$0 $0 $0
LAURIE G LACHANCE DIRECTOR 2.00
Director
$0 $0 $0
BRAIN LANGLEY DIRECTOR 2.00
Director
$0 $0 $0
JO-AN LANTZ DIRECTOR 2.00
Director
$0 $0 $0
STEPHANIE LEE DIRECTOR 2.00
Director
$0 $0 $0
KIMBERLY N LINDLOF DIRECTOR 2.00
Director
$0 $0 $0
JOSH MADORE DIRECTOR 2.00
Director
$0 $0 $0
DANNEL MALLOY DIRECTOR 2.00
Director
$0 $0 $0
TODD MASON DIRECTOR 2.00
Director
$0 $0 $0
DENISE MCDONOUGH DIRECTOR 2.00
Director
$0 $0 $0
TIMOTHY MCGONAGLE DIRECTOR 2.00
Director
$0 $0 $0
DAVID MCPHERSON DIRECTOR 2.00
Director
$0 $0 $0
GARY MERRILL DIRECTOR 2.00
Director
$0 $0 $0
MICHAEL MOHAN DIRECTOR 2.00
Director
$0 $0 $0
TOM PEACO DIRECTOR 2.00
Director
$0 $0 $0
DEB NEUMAN DIRECTOR 2.00
Director
$0 $0 $0
JESSIE PERKINS DIRECTOR 2.00
Director
$0 $0 $0
ERIN PIPER DIRECTOR 2.00
Director
$0 $0 $0
HEATHER PRINTUP DIRECTOR 2.00
Director
$0 $0 $0
JOSEPH PURINGTON DIRECTOR 2.00
Director
$0 $0 $0
LIZZY REINHOLT DIRECTOR 2.00
Director
$0 $0 $0
DANIEL RILEY DIRECTOR 2.00
Director
$0 $0 $0
BARRY SHEFF DIRECTOR 2.00
Director
$0 $0 $0
ALEX SERRA DIRECTOR 2.00
Director
$0 $0 $0
ANDREW SILSBY DIRECTOR 2.00
Director
$0 $0 $0
OWEN SMITH DIRECTOR 2.00
Director
$0 $0 $0
UMBERTO SPERANZA DIRECTOR 2.00
Director
$0 $0 $0
MARK ST GERMAIN DIRECTOR 2.00
Director
$0 $0 $0
AL SWALLOW DIRECTOR 2.00
Director
$0 $0 $0
JOSH TARDY DIRECTOR 2.00
Director
$0 $0 $0
GILBERT THIBEAU DIRECTOR 2.00
Director
$0 $0 $0
MARK THIBODEAU DIRECTOR 2.00
Director
$0 $0 $0
MATHEW E TONELLO DIRECTOR 2.00
Director
$0 $0 $0
ELEANOR VADENAIS DIRECTOR 2.00
Director
$0 $0 $0
TOM VIOLETTE DIRECTOR 2.00
Director
$0 $0 $0
TIM WALTON DIRECTOR 2.00
Director
$0 $0 $0
WILLIAM WHITMORE DIRECTOR 2.00
Director
$0 $0 $0
LARRY WOLD DIRECTOR 2.00
Director
$0 $0 $0
BRYAN WYATT DIRECTOR 2.00
Director
$0 $0 $0
DANA CONNORS CHAMBER PRESIDENT 40.00
Officer
$203,661 $26,044 $229,705
PETER GORE VP OF GOV'T RELATIONS 40.00
Highest
$130,874 $20,835 $151,709
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 No data No data No data No data
2023 $2,270,959 $2,195,949 $1,648,532 $75,010
2022 $2,213,591 $2,238,096 $923,733 $-24,505
2021 $1,966,423 $1,837,571 $1,111,909 $128,852
2020 $1,839,019 $1,859,787 $789,402 $-20,768
2019 $1,635,788 $1,643,423 $732,881 $-7,635
2018 $1,560,100 $1,600,130 $651,884 $-40,030
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