Maine Development Foundation (EIN 010355563) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year

1978

Legal Domicile

Principal Officer

Yellow Breen

Phone

2076226345

Tax Period

2024-01-01 to 2024-12-31

Maine Development Foundation is a 501(c)(3) with EIN 010355563, based in Augusta, ME. Founded in 1978, the organization files IRS Form 990 and reported its most recent data for fiscal year 2024. In that period, it reported $2,966,802 in total revenue and $3,002,637 in total expenses, with net assets of $35,015.

Mission

To promote economic growth in the State of Maine.

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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 $1,748,912

Program Service Revenue $1,206,358

Investment Income $11,532

Other Revenue $0

TOTAL REVENUE $2,966,802

Expense Breakdown

Grants Paid $557,301

Salaries & Benefits $1,592,674

Fundraising Expenses $106,255

Program Expenses $2,179,817

Other Expenses $852,662

TOTAL EXPENSES $3,002,637

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,966,802	$3,160,300	-0.1%
Expenses	$3,002,637	$3,361,150	-0.1%
Net Income	$-35,835	$-200,850	-0.8%

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

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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

150

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

$203,552

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Adam Shub	Director	1.00	Director	$0	$0	$0
Carlos Mello	Director	1.00	Director	$0	$0	$0
Catherine Wygant Fossett	Vice Chair	1.50	Officer Director	$0	$0	$0
Dayton Benway	Director	1.00	Director	$0	$0	$0
Deborah Johnson	Director	1.00	Director	$0	$0	$0
Eric Soelberg	Director	1.00	Director	$0	$0	$0
Hannah Carter	Director	1.00	Director	$0	$0	$0
Kendra Coates	Director	1.00	Director	$0	$0	$0
Linda Ball	Chair	2.00	Officer Director	$0	$0	$0
Lisa Sockabasin	Director	1.00	Director	$0	$0	$0
Lori Dwyer	Director	1.50	Director	$0	$0	$0
Michael McKernan	Director	1.50	Director	$0	$0	$0
Rick C Leonard	Treasurer	2.00	Officer Director	$0	$0	$0
Theresa Cody	Director	1.50	Director	$0	$0	$0
Trampas Hutches	Director	1.00	Director	$0	$0	$0
Nellie Albright	Director	1.00	Director	$0	$0	$0
Jenny Kordick	Director	1.00	Director	$0	$0	$0
Yellow Light Breen	President & CEO	40.00	Officer	$171,499	$32,053	$203,552

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	$2,966,802	$3,002,637	$969,500	$-35,835
2023	$3,160,300	$3,361,150	$1,176,862	$-200,850
2022	$2,803,285	$2,739,656	$1,919,051	$63,629
2021	$2,681,444	$2,780,640	$970,799	$-99,196
2020	$2,516,324	$2,600,651	$1,568,365	$-84,327
2019	$1,791,473	$1,849,434	$713,218	$-57,961
2018	$1,792,373	$1,857,224	$788,412	$-64,851

Maine Development Foundation