LifeFlight of Maine LLC (EIN 010518516) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1998

Legal Domicile

Principal Officer

Joseph Kellner

Phone

2079735115

Tax Period

2022-07-01 to 2023-06-30

LifeFlight of Maine LLC is a 501(c)(3) with EIN 010518516, based in Bangor, ME. Founded in 1998, the organization files IRS Form 990 and reported its most recent data for fiscal year 2022. In that period, it reported $28,301,551 in total revenue and $20,591,367 in total expenses, with net assets of $28,703,752.

Mission

LifeFlight of Maine ("LOM") provides critical care ground and air medical transport throughout the State of Maine. LOM operates helicopters, an airplane, and ground ambulance, all used exclusively to advance the treatment and transport of criticially ill and injured residents of, and visitors to, 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 (2022)

Revenue Breakdown

Contributions & Grants $6,401,205

Program Service Revenue $21,834,410

Investment Income $44,324

Other Revenue $21,612

TOTAL REVENUE $28,301,551

Expense Breakdown

Grants Paid $0

Salaries & Benefits $931,579

Fundraising Expenses $0

Program Expenses $18,758,467

Other Expenses $19,659,788

TOTAL EXPENSES $20,591,367

Year-over-Year Comparison

	2022	2021	Change
Revenue	$28,301,551	$23,373,073	+0.2%
Expenses	$20,591,367	$18,605,600	+0.1%
Net Income	$7,710,184	$4,767,473	+0.6%

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

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Peter Cartmell	Director of Operations, LFAS	40.00	Highest	$106,995	$12,495	$119,490
Thomas McDevitt	Rotor Wing Base Lead, LFAS	40.00	Highest	$102,688	$15,028	$117,716
Greg LaFrancois	Chair	4.00	Officer Director	$0	$0	$0
Steve Littleson	Vice Chair	4.00	Officer Director	$0	$0	$0
Dan Daigneault	Steering Committee Member	4.00	Director	$0	$0	$0
Diane Danielson	Steering Committee Member	4.00	Director	$0	$0	$0
Quentin Walz	Steering Committee Member	4.00	Director	$0	$0	$0
Tim Dentry	Steering Committee Member	4.00	Director	$0	$0	$0
Norman Dinerman MD FACEP	Steering Committee Member	25.00	Director	$0	$0	$0
David Paulosky	Steering Committee Member	4.00	Director	$0	$0	$0
Zach Brandwein	Steering Committee Member	4.00	Director	$0	$0	$0
Marc Edelman MD	Past Steering Committee Member	4.00	Director	$0	$0	$0
Mackenzie Lyman	Past Steering Committee Member	4.00	Director	$0	$0	$0
Thomas Judge	Executive Director	40.00	Officer	$0	$0	$0
William Cyr	Chief Operating Officer	40.00	Officer	$0	$0	$0
Joseph Kellner	Chief Financial Officer	10.00	Officer	$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	$28,301,551	$20,591,367	$41,693,593	$7,710,184
2022	$23,373,073	$18,605,600	$36,347,003	$4,767,473
2021	$18,002,264	$17,077,248	$31,032,101	$925,016
2020	$21,739,469	$15,856,812	$25,760,870	$5,882,657
2019	$14,629,916	$15,117,880	$24,528,958	$-487,964
2018	$14,492,084	$14,241,560	$24,689,408	$250,524

LifeFlight of Maine LLC