Kennebec Valley Council of Governments

EIN: 010488478 501(c)(3) Community Improvement

Fairfield, ME

Total Revenue
$899,355
Total Expenses
$1,101,435
Total Assets
$4,070,124
Net Assets
$3,143,628
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1994
Legal Domicile
ME
Principal Officer
Joel Greenwood
Phone
2074534258
Tax Period
2022-07-01 to 2023-06-30

Kennebec Valley Council of Governments, founded in 1994, is a small nonprofit in the Community Improvement sector that reported $899K in total revenue in fiscal year 2022. Revenue fell 43% from the prior year — a significant decline worth monitoring. Expenses of $1.1M exceeded revenue, resulting in a 22% operating deficit.

Mission

To be an advocate and agent for local and regional planning and economic growth. To support and expand the capabilities of local, municipal, and county government development.

Program Service Accomplishments

Program 1
Expenses: $226,335

Economic and community development KVCOG provides economic and community development services relating to investments in municipal infrastructure, workforce development, shared services, training...

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Economic and community development KVCOG provides economic and community development services relating to investments in municipal infrastructure, workforce development, shared services, training, and business retention, expansion and attraction. KVCOG provided economic development assistance to the towns of Benton, China, Chelsea, Gardiner, Madision, Vassalboro, Waterville, Winslow, Winthrop. KVCOG also provided economic and community development services to - The towns of Anson, Bingham, China, Madison, Rome, Skowhegan, Starks, and St. Albans for services related to investments in municipal infrastructure through broadband planning.

Program 2
Expenses: $371,007

Planning - KVOG provides educational, training, and advisory services to govermental agencies, boards, and committees in the areas of transportation, solid waste, environment, and land use and also...

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Planning - KVOG provides educational, training, and advisory services to govermental agencies, boards, and committees in the areas of transportation, solid waste, environment, and land use and also provides gis mapping services in support of these planning activities. KVCOG achieved the following in this area of its exempt purpose operations - Assisted over 35 towns with land use questions, ordinance amendments or board procedures/forms etc. - Assited mutiple towns witth solar farm, wind power and medical marijuana ordinances. - Assisted multiple communities with updating of shoreland zoning maps. - Town planner by contract.

Program 3
Expenses: $121,102

Revolving loan fund RLF KVCOG provides business finance and business counseling services to private sector organizations in furtherance of its goals to promote increased public and private sector...

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Revolving loan fund RLF KVCOG provides business finance and business counseling services to private sector organizations in furtherance of its goals to promote increased public and private sector investment and job retention and job creation. RLF is a key component of our economic development program.

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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 $655,701
Program Service Revenue $200,074
Investment Income $10,683
Other Revenue $32,897
TOTAL REVENUE $899,355

Expense Breakdown

Grants Paid $0
Salaries & Benefits $610,596
Fundraising Expenses $0
Program Expenses $718,444
Other Expenses $490,839
TOTAL EXPENSES $1,101,435

Year-over-Year Comparison

2022 2021 Change
Revenue $899,355 $1,583,667 -0.4%
Expenses $1,101,435 $855,487 +0.3%
Net Income $-202,080 $728,180 -1.3%
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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Governance

Voting Members
14
Independent Members
14
Employees
13
Volunteers
N/A

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
7
$150,610
Total Directors
14
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Matthew Underwood Executive Director 040.00
Officer
$93,634 $0 $93,634
Lorra-Lee Snyder Finance Director 040.00
Officer
$56,976 $0 $56,976
Tim Curtis President 000.20
Officer Director
$0 $0 $0
Richard LaBelle Past President 000.20
Officer Director
$0 $0 $0
Eric Dyer Vice President 000.20
Officer Director
$0 $0 $0
Kathryn Ruth Secretary 000.20
Officer Director
$0 $0 $0
Christine Almand Treasurer 000.20
Officer Director
$0 $0 $0
Julie Richard Director 000.20
Director
$0 $0 $0
Michelle Flewelling Director 000.20
Director
$0 $0 $0
Michael Watson Director 000.20
Director
$0 $0 $0
Gary Lamb Director 000.20
Director
$0 $0 $0
Terry Berry Director 000.20
Director
$0 $0 $0
William Post Director 000.20
Director
$0 $0 $0
Jerry Quirion Director 000.20
Director
$0 $0 $0
Aaron Chrostowsky Director 000.20
Director
$0 $0 $0
Dana Wrigley Director 000.20
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 No data No data No data No data
2024 No data No data No data No data
2023 $899,355 $1,101,435 $4,070,124 $-202,080
2022 $1,583,667 $855,487 $4,421,362 $728,180
2021 $1,561,553 $1,070,901 $3,745,709 $490,652
2020 $847,669 $837,035 $3,358,029 $10,634
2020 $750,752 $752,726 $3,568,820 $-1,974
2019 $750,752 $752,726 $3,568,820 $-1,974
2018 $873,746 $788,357 $3,585,895 $85,389
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