GENERAL ALUMNI ASSOCIATION OF THE UNIVERSITY OF MAINE INC

EIN: 010502306 501(c)(3)

ORONO, ME

Total Revenue
$1,077,685
Total Expenses
$1,113,098
Total Assets
$5,120,557
Net Assets
$5,093,512
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Financial Trends

Organization Details

Formation Year
1994
Legal Domicile
ME
Principal Officer
TOM PEACO
Phone
2075811133
Tax Period
2022-07-01 to 2023-06-30

GENERAL ALUMNI ASSOCIATION OF THE UNIVERSITY OF MAINE INC is a 501(c)(3) with EIN 010502306, based in ORONO, ME. Founded in 1994, the organization files IRS Form 990 and reported its most recent data for fiscal year 2022. In that period, it reported $1,077,685 in total revenue and $1,113,098 in total expenses, with net assets of $5,093,512.

Mission

To foster relationships among the University of Maine and its Alumni

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Trantor Score

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

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $677,703
Program Service Revenue $184,571
Investment Income $111,832
Other Revenue $103,579
TOTAL REVENUE $1,077,685

Expense Breakdown

Grants Paid $52,552
Salaries & Benefits $671,118
Fundraising Expenses $98,148
Program Expenses $871,891
Other Expenses $389,428
TOTAL EXPENSES $1,113,098

Year-over-Year Comparison

2022 2021 Change
Revenue $1,077,685 $1,187,948 -0.1%
Expenses $1,113,098 $1,146,408 0.0%
Net Income $-35,413 $41,540 -1.9%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Governance

Voting Members
26
Independent Members
26
Employees
9
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
2
$62,317
Total Directors
28
$62,317
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TOM PEACO President & CEO 40.00
Officer Director
$62,317 $0 $62,317
CHRISTOPHER FARMER Director 1.00
Director
$0 $0 $0
ROBERT FRANK Director 1.00
Director
$0 $0 $0
AMY VOLK Director 1.00
Director
$0 $0 $0
MARC BOLDUC Director 1.00
Director
$0 $0 $0
KATIE FOSTER Director 1.00
Director
$0 $0 $0
JUSTIN BARNES Director 1.00
Director
$0 $0 $0
EHTAN TREMBLAY Director 1.00
Director
$0 $0 $0
SARAH GALLANT Director 1.00
Director
$0 $0 $0
SUSAN BERNIER Director 1.00
Director
$0 $0 $0
ROBERT FITTA Director 1.00
Director
$0 $0 $0
IVI NWOSU Director 1.00
Director
$0 $0 $0
JEFF ROGERS Director 1.00
Director
$0 $0 $0
STACEY HARRIS Director 1.00
Director
$0 $0 $0
KATHRYB KNIGHT-WISE Director 1.00
Director
$0 $0 $0
STEVEN W HEWINS Director 1.00
Director
$0 $0 $0
LISA SOCKABASIN Director 1.00
Director
$0 $0 $0
JOHN SIMPSON Director 1.00
Director
$0 $0 $0
JASON SOLOMON Director 1.00
Director
$0 $0 $0
JULIA MUNSEY Chairman 1.00
Officer Director
$0 $0 $0
THERESA LEE Director 1.00
Director
$0 $0 $0
KRISTEN MCALPINE Director 1.00
Director
$0 $0 $0
NATE WILDES Director 1.00
Director
$0 $0 $0
CHARLES STANHOPE Director 1.00
Director
$0 $0 $0
TREY STEWART Director 1.00
Director
$0 $0 $0
ELIZABETH DOWNING Director 1.00
Director
$0 $0 $0
ANDREW MCGARRY Director 1.00
Director
$0 $0 $0
UKEME JETER Director 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
2023 $1,077,685 $1,113,098 $5,120,557 $-35,413
2022 $1,187,948 $1,146,408 $5,147,484 $41,540
2021 $1,158,820 $975,557 $5,381,410 $183,263
2020 $1,015,499 $1,098,180 $4,855,589 $-82,681
2019 $1,149,051 $1,136,962 $4,864,145 $12,089
2018 $1,148,272 $1,192,640 $4,837,932 $-44,368
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