UNIVERSITY OF MAINE PULP & PAPER FOUNDATION

EIN: 010237721 501(c)(3) Community Improvement

ORONO, ME

Total Revenue
$2,133,708
Total Expenses
$1,823,437
Total Assets
$33,599,298
Net Assets
$33,599,298
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1950
Legal Domicile
ME
Principal Officer
CARRIE ENOS
Phone
2075812298
Tax Period
2024-01-01 to 2024-12-31

UNIVERSITY OF MAINE PULP & PAPER FOUNDATION, founded in 1950, is a community nonprofit in the Community Improvement sector that reported $2.1M in total revenue in fiscal year 2024. Revenue fell 22% from the prior year — a significant decline worth monitoring. Expenses of $1.8M left a modest 15% surplus.

Mission

FURTHER THE STUDY OF PULP & PAPER AND RELATED SUBJECTS AT THE UNIVERSITY OF MAINE AND ENCOURAGE STUDENTS TO CONSIDER PAPER RELATED TECHNICAL CAREERS.

Program Service Accomplishments

Program 1
Expenses: $872,072 Revenue: $0

AWARDING OF SCHOLARSHIPS TO 180 INDIVIDUAL STUDENTS.

Program 2
Expenses: $135,972 Revenue: $0

AWARDING OF GRANTS AND ASSISTANCE TO PROFESSORS AND THE UNIVERSITY OF MAINE FOR THE SUPPORT OF TEACHING AND FACULTY ACTIVITIES AND PROMOTION OF ENGINEERING STUDIES.

Program 3
Expenses: $187,296 Revenue: $0

HIGH SCHOOL AND EDUCATIONAL RELATIONS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $520,680
Program Service Revenue $0
Investment Income $1,613,028
Other Revenue $0
TOTAL REVENUE $2,133,708

Expense Breakdown

Grants Paid $1,008,044
Salaries & Benefits $490,031
Fundraising Expenses $80,850
Program Expenses $1,195,340
Other Expenses $325,362
TOTAL EXPENSES $1,823,437

Year-over-Year Comparison

2024 2023 Change
Revenue $2,133,708 $2,748,578 -0.2%
Expenses $1,823,437 $1,661,197 +0.1%
Net Income $310,271 $1,087,381 -0.7%
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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Governance

Voting Members
38
Independent Members
38
Employees
3
Volunteers
110

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
16
$297,251
Total Directors
38
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BETH A CORMIER BOARD CHAIRPERSON 0.30
Officer Director
$0 $0 $0
MARK W KOWLZAN EXECUTIVE COM CHAIR 0.30
Officer Director
$0 $0 $0
TRACY HILL SMITH TREASURER 0.50
Officer Director
$0 $0 $0
DEECE HANNIGAN SECRETARY 0.10
Officer Director
$0 $0 $0
MARK STUART CROSS VICE PRESIDENT 0.10
Officer Director
$0 $0 $0
BARBARA KERR HAMILTON VICE PRESIDENT 0.10
Officer Director
$0 $0 $0
RAY HEUCHLING VICE PRESIDENT 0.10
Officer Director
$0 $0 $0
KENZIE KARPINSKI VICE PRESIDENT 0.10
Officer Director
$0 $0 $0
MARCO L'ITALIEN VICE PRESIDENT 0.10
Officer Director
$0 $0 $0
BRIAN C LAMBERT VICE PRESIDENT 0.10
Officer Director
$0 $0 $0
CRAIG S MARTIN VICE PRESIDENT 0.10
Officer Director
$0 $0 $0
ADRIENNE S THIBODEAU-NADEAU VICE PRESIDENT 0.10
Officer Director
$0 $0 $0
JUSTIN PELLETIER VICE PRESIDENT 0.10
Officer Director
$0 $0 $0
JOHN T WOLANSKI VICE PRESIDENT 0.10
Officer Director
$0 $0 $0
DAVID M COLTER EX-OFFICIO 0.10
Officer Director
$0 $0 $0
PAUL BORTOLAN DIRECTOR 0.10
Director
$0 $0 $0
MONIQUE CLAVERIE DIRECTOR 0.10
Director
$0 $0 $0
DANA C COOK DIRECTOR 0.10
Director
$0 $0 $0
HEATHER DUBOIS DIRECTOR 0.10
Director
$0 $0 $0
LOIS FORDE-KOHLER DIRECTOR 0.10
Director
$0 $0 $0
RICKY A FORTIER DIRECTOR 0.10
Director
$0 $0 $0
CHRISTOPHER R FRANCIS DIRECTOR 0.10
Director
$0 $0 $0
ROBERT B HARVEY DIRECTOR 0.10
Director
$0 $0 $0
KELLY L HELEIN DIRECTOR 0.10
Director
$0 $0 $0
SCOTT G LEBEAU DIRECTOR 0.10
Director
$0 $0 $0
KEN LIU DIRECTOR 0.10
Director
$0 $0 $0
CHAD A MARTIN DIRECTOR 0.10
Director
$0 $0 $0
ANDREA MCGUIRE DIRECTOR 0.10
Director
$0 $0 $0
KEITH A MEYER DIRECTOR 0.10
Director
$0 $0 $0
LAURENCE MOTT DIRECTOR 0.10
Director
$0 $0 $0
MARTIN J RICHARD DIRECTOR 0.10
Director
$0 $0 $0
MIKE RUHLE DIRECTOR 0.10
Director
$0 $0 $0
DAVID SHELMIDINE DIRECTOR 0.10
Director
$0 $0 $0
BALAZS TOLNAI DIRECTOR 0.10
Director
$0 $0 $0
LORI L TUTTLE DIRECTOR 0.10
Director
$0 $0 $0
STEWART VAN HORN DIRECTOR 0.10
Director
$0 $0 $0
SCOTT VARNEY DIRECTOR 0.10
Director
$0 $0 $0
JULIE WHITE DIRECTOR 0.10
Director
$0 $0 $0
CARRIE HURD ENOS PRESIDENT 40.00
Officer
$246,173 $51,078 $297,251
JENNIFER IRELAND PROGRAM MANAGER 40.00
Highest
$141,781 $11,500 $153,281
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
2024 $2,133,708 $1,823,437 $33,599,298 $310,271
2023 $2,748,578 $1,661,197 $32,128,257 $1,087,381
2022 $1,744,030 $1,665,874 $28,669,088 $78,156
2021 $5,221,820 $1,604,574 $35,062,221 $3,617,246
2020 $1,541,694 $1,445,041 $31,514,138 $96,653
2019 $3,346,946 $1,439,162 $28,082,366 $1,907,784
2018 $1,838,933 $1,294,483 $23,045,170 $544,450
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