HEART OF MAINE UNITED WAY (EIN 010211478) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1937

Legal Domicile

Principal Officer

SHIRAR PATTERSON

Phone

2079412800

Tax Period

2024-07-01 to 2025-06-30

HEART OF MAINE UNITED WAY is a 501(c)(3) with EIN 010211478, based in BANGOR, ME. Founded in 1937, the organization files IRS Form 990 and reported its most recent data for fiscal year 2024. In that period, it reported $3,958,454 in total revenue and $2,402,970 in total expenses, with net assets of $6,406,277.

Mission

SINCE 1937, HEART OF MAINE UNITED WAY (HOMEUW) HAS BEEN MOBILIZING THE CARING POWER OF PEOPLE AND COMMUNITIES THROUGHOUT HANCOCK, PENOBSCOT, PISCATAQUIS, SOMERSET, WALDO, AND WASHINGTON COUNTIES TO PROVIDE ESSENTIAL SERVICES AND IDENTIFY SOLUTIONS AIMED AT CREATING LASTING CHANGES TO THE ROOT CAUSES OF THE COMMUNITY'S MOST PRESSING NEEDS. HOMEUW IS FOCUSED ON IMPROVING BASIC NEEDS, SUBSTANCE USE DISORDER AND EARLY CHILDHOOD DEVELOPMENT. WE ACCOMPLISH OUR RESULTS BY BRINGING TOGETHER SUBJECT EXPERTS, BUSINESS LEADERS, DONORS, NEIGHBORHOODS, AND MEMBERS OF LOCAL NONPROFIT AGENCIES. THESE COMMUNITY MEMBERS HELP IDENTIFY OUR COMMUNITY'S MOST CRITICAL SOCIAL ISSUES. IN FORMING THESE PARTNERSHIPS, WE ARE BETTER ABLE TO ADDRESS THE UNDERLYING CAUSES OF PROBLEMS IN OUR COMMUNITY AND PREVENT THEM FROM HAPPENING. HOMEUW RAISES FUNDS FROM THE COMMUNITY TO ADDRESS THE UNDERLYING ROOT CAUSE OF THE COMMUNITY'S MOST PRESSING ISSUES. IN THE PAST YEAR MORE THAN 134,000 INDIVIDUALS WERE SUPPORTED THROUG

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $3,455,911

Program Service Revenue $0

Investment Income $425,429

Other Revenue $77,114

TOTAL REVENUE $3,958,454

Expense Breakdown

Grants Paid $1,216,212

Salaries & Benefits $677,927

Fundraising Expenses $565,931

Program Expenses $1,800,891

Other Expenses $508,831

TOTAL EXPENSES $2,402,970

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,958,454	$2,399,405	+0.6%
Expenses	$2,402,970	$2,263,073	+0.1%
Net Income	$1,555,484	$136,332	+10.4%

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

Governance

Voting Members

Independent Members

Employees

Volunteers

408

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

$127,138

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JESSAMINE POTTLE	CHAIR	1.00	Officer Director	$0	$0	$0
WENDY DURRAH	VICE CHAIR	1.00	Officer Director	$0	$0	$0
KRISTEN PERRY	TREASURER	1.00	Officer Director	$0	$0	$0
KENDRA OVERLOCK	SECRETARY	1.00	Officer Director	$0	$0	$0
ASHLEY TKOWSKI	DIRECTOR	1.00	Officer Director	$0	$0	$0
PAIGE WILCOX	DIRECTOR	1.00	Director	$0	$0	$0
CHRIS WINSTEAD	DIRECTOR	1.00	Director	$0	$0	$0
SHIRAR PATTERSON	PRESIDENT &	40.00	Officer	$116,471	$10,667	$127,138
JAIME AUDET	DIRECTOR	1.00	Director	$0	$0	$0
GERRY FORD	DIRECTOR	1.00	Director	$0	$0	$0
KEVIN TESSEO	DIRECTOR	1.00	Director	$0	$0	$0
SUE MACKEY ANDREWS	DIRECTOR	1.00	Director	$0	$0	$0
DEB SANFORD	DIRECTOR	1.00	Director	$0	$0	$0
KATIE FOSTER	DIRECTOR	1.00	Director	$0	$0	$0
MATT DEXTER	DIRECTOR	1.00	Director	$0	$0	$0
SANDY NESIN	DIRECTOR	1.00	Director	$0	$0	$0
MOLLY BRIGGS	CAMPAIGN CHA	1.00	Director	$0	$0	$0

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	$3,958,454	$2,402,970	$7,393,006	$1,555,484
2024	$2,399,405	$2,263,073	$5,519,444	$136,332
2023	$2,428,940	$2,304,205	$5,478,549	$124,735
2022	$2,989,676	$2,250,284	$5,339,304	$739,392
2021	$3,233,718	$2,638,232	$6,005,814	$595,486
2020	$2,744,404	$2,638,878	$5,286,737	$105,526
2019	$2,337,638	$2,251,498	$5,413,470	$86,140
2018	$2,323,100	$2,326,194	$5,495,243	$-3,094

HEART OF MAINE UNITED WAY