HOSPITALITY MAINE EDUCATION FOUNDATION

EIN: 010421242 501(c)(3) Unknown

AUGUSTA, ME

Total Revenue
$340,266
Total Expenses
$376,126
Total Assets
$294,352
Net Assets
$293,580
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1987
Legal Domicile
ME
Principal Officer
MATTHEW LEVIN
Phone
2076232178
Tax Period
2023-01-01 to 2023-12-31

HOSPITALITY MAINE EDUCATION FOUNDATION, founded in 1987, is a small nonprofit in the Unknown sector that reported $340K in total revenue in fiscal year 2023. Revenue surged 79% from the prior year, signaling strong growth momentum. Expenses of $376K exceeded revenue, resulting in a 11% operating deficit.

Mission

HOSPITALITY MAINES FOUNDATION FOCUSED ON EDUCATION AND WORKFORCE DEVELOPMENT OPPORTUNITIES FOR THE MAINE RESTAURANT AND INNKEEPER INDUSTRY.

Program Service Accomplishments

Program 1
Expenses: $12,400

EDUCATION SCHOLARSHIPS AWARDED TO STUDENTS PURSUING CAREERS IN THE HOSPITALITY INDUSTRY.

Program 2
Expenses: $295,130

WORKFORCE DEVELOPMENT PROGRAM IS FUNDED BY A GRANT FROM MAINE DOL. ITS FOCUS IS TO DEVELOP PRE-APPRENTICE AND APPRENTICESHIP POSITIONS IN THE HOSPITALITY INDUSTRY AND TO ENCOURAGE EMPLOYEES TO ENTER...

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WORKFORCE DEVELOPMENT PROGRAM IS FUNDED BY A GRANT FROM MAINE DOL. ITS FOCUS IS TO DEVELOP PRE-APPRENTICE AND APPRENTICESHIP POSITIONS IN THE HOSPITALITY INDUSTRY AND TO ENCOURAGE EMPLOYEES TO ENTER THE HOSPITALITY WORKFORCE AND UNDERSTAND THAT THERE IS A CAREER TRACK.

Program 3
Expenses: $60,963 Revenue: $13,352

PROSTART IS A TWO YEAR HIGH SCHOOL CULINARY AND MANAGEMENT PROGRAM THAT TEACHES HIGH SCHOOL STUDENTS THE FUNDAMENTALS OF CULINARY AND RESTAURANT MANAGEMENT AND ENCOURAGES THEM TO ENTER THE WORKFORCE...

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PROSTART IS A TWO YEAR HIGH SCHOOL CULINARY AND MANAGEMENT PROGRAM THAT TEACHES HIGH SCHOOL STUDENTS THE FUNDAMENTALS OF CULINARY AND RESTAURANT MANAGEMENT AND ENCOURAGES THEM TO ENTER THE WORKFORCE OR PURSUE HIGHER EDUCATION IN THE CULINARY AND MANAGEMENT ARENAS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $318,152
Program Service Revenue $13,352
Investment Income $8,762
Other Revenue $0
TOTAL REVENUE $340,266

Expense Breakdown

Grants Paid $12,400
Salaries & Benefits $91,042
Fundraising Expenses $0
Program Expenses $368,493
Other Expenses $272,684
TOTAL EXPENSES $376,126

Year-over-Year Comparison

2023 2022 Change
Revenue $340,266 $190,450 +0.8%
Expenses $376,126 $132,779 +1.8%
Net Income $-35,860 $57,671 -1.6%
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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Liquidity & Cash Position

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Governance

Voting Members
9
Independent Members
9
Employees
1
Volunteers
9

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
$115,228
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
REBECCA JACOBSON EXECUTIVE DI 0.30
Officer
$0 $16,234 $115,228
MICHAEL BRIGGS 1ST VICE CHA 0.30
Officer Director
$0 $0 $0
STEVE DIMILLO DIRECTOR 0.30
Director
$0 $0 $0
TRAVIS FERLAND DIRECTOR 0.30
Director
$0 $0 $0
MAUREEN LASALLE CHAIR 0.30
Officer Director
$0 $0 $0
BRIAN LANGLEY DIRECTOR 0.30
Director
$0 $0 $0
MATTHEW LEVIN TREASURER 0.30
Officer Director
$0 $0 $0
JEAN GINN MARVIN DIRECTOR 0.30
Director
$0 $0 $0
DARLENE RATTE DIRECTOR 0.30
Director
$0 $0 $0
DR LEE SPERONIS DIRECTOR 0.30
Director
$0 $0 $0
DAVID TURIN DIRECTOR 0.30
Officer 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
2024 No data No data No data No data
2023 $340,266 $376,126 $294,352 $-35,860
2022 $190,450 $132,779 $313,633 $57,671
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