MAINE MANUFACTURING EXTENSION PART… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1998

Legal Domicile

Principal Officer

JAMES FAY

Phone

2076230680

Tax Period

2023-07-01 to 2024-06-30

MAINE MANUFACTURING EXTENSION PARTNERSHIP, founded in 1998, is a community nonprofit in the Community Improvement sector that reported $2.2M in total revenue in fiscal year 2023.

Mission

MAINE MEP'S MISSION IS TO FACILITATE ECONOMIC DEVELOPMENT BY PROVIDING THE NECESSARY SERVICES TO MAINE'S SMALL AND MEDIUM SIZED MANUFACTURING ENTERPRISES (SMES) TO ENABLE THEM TO BE RESILIENT AND THRIVE IN THE EVERCHANGING MARKET ENVIRONMENT.

Program Service Accomplishments

Program 1

Expenses: $1,423,927 Revenue: $392,407

AN EDUCATIONAL EXTENSION PROGRAM TO ASSIST SMALL TO MEDIUM MANUFACTURERS LOCATED IN MAINE IN APPLYING PRODUCTION AND PROCESS TECHNOLOGIES AND BUSINESS MANAGEMENT PRACTICES TO THEIR OPERATIONS.

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,806,203

Program Service Revenue $392,407

Investment Income $917

Other Revenue $17,228

TOTAL REVENUE $2,216,755

Expense Breakdown

Grants Paid $145,000

Salaries & Benefits $1,390,868

Fundraising Expenses $0

Program Expenses $1,423,927

Other Expenses $650,231

TOTAL EXPENSES $2,186,099

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,216,755	$2,329,634	0.0%
Expenses	$2,186,099	$2,168,202	+0.0%
Net Income	$30,656	$161,432	-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

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

$307,009

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JULIA MUNSEY	DIRECTOR	1.00	Director	$0	$0	$0
HARVEY SMITH	DIRECTOR	1.00	Director	$0	$0	$0
JOAN DOLAN	DIRECTOR	1.00	Director	$0	$0	$0
NANCY STROJNY	DIRECTOR	1.00	Director	$0	$0	$0
SCOTT KNAPP	SECRETARY	1.00	Officer Director	$0	$0	$0
DAVID MIKA	DIRECTOR	1.00	Director	$0	$0	$0
DENISE GARLAND	DIRECTOR	1.00	Director	$0	$0	$0
SALLY GARAND	VICE CHAIR, TREASURER	1.00	Officer Director	$0	$0	$0
KRISTINE LOGAN	CHAIR	1.00	Officer Director	$0	$0	$0
DAVID NEMI	DIRECTOR	1.00	Director	$0	$0	$0
JACK LESKO	DIRECTOR	1.00	Director	$0	$0	$0
JONATHAN ROBERTSON	DIRECTOR	1.00	Director	$0	$0	$0
LAWRENCE ROBINSON	PRESIDENT (RETIRED 12/31/2023)	40.00	Officer	$147,733	$11,819	$159,552
JAMES FAY	PRESIDENT (FROM 11/2023)	40.00	Officer	$128,265	$19,192	$147,457

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	$2,216,755	$2,186,099	$1,491,402	$30,656
2023	$2,329,634	$2,168,202	$1,454,364	$161,432
2022	$1,939,009	$2,063,049	$1,279,245	$-124,040
2021	$2,592,709	$2,409,697	$1,376,785	$183,012
2020	$1,670,500	$1,546,108	$991,574	$124,392
2019	$1,703,148	$1,698,507	$941,707	$4,641

MAINE MANUFACTURING EXTENSION PARTNERSHIP