Maine Farmland Trust

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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

1999

Legal Domicile

Principal Officer

Kristin Varnum

Phone

2073386575

Tax Period

2024-10-01 to 2025-09-30

Maine Farmland Trust, founded in 1999, is a community nonprofit in the Food, Agriculture & Nutrition sector that reported $8.3M in total revenue in fiscal year 2024. Revenue surged 61% from the prior year, signaling strong growth momentum. Expenses of $7.9M left a modest 5% surplus.

Mission

Maine Farmland Trust protects farmland, supports farmers, and advances the future of farming.

Program Service Accomplishments

Program 1

Expenses: $2,921,872 Revenue: $7,374

FARMLAND PROTECTION: Permanently protected farmland through acceptance of donated agricultural conservation easements, purchase of agricultural conservation easements, and purchase, protection, and resale of farms. This year, MFT completed 10 land protection projects, protecting 1,837 acres of land.

Program 2

Expenses: $629,026 Revenue: $500

STEWARDSHIP: The Stewardship program is responsible for monitoring protected farmland to ensure that the conservation values of the property are protected forever. This period, MFT completed annual...

Program 3

Expenses: $588,292 Revenue: $1,748

EDUCATION & OUTREACH: Provided workshops, presentations, regional meetings and displays at agricultural and related events to present both general and technical information about MFT's work. Hosted a variety of events to increase public awareness about the challenges farmers face and educate about MFT's work to protect farmland and support Maine farms through our programs and policy efforts.

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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 (2024)

Revenue Breakdown

Contributions & Grants $8,037,275

Program Service Revenue $30,196

Investment Income $236,409

Other Revenue $2,875

TOTAL REVENUE $8,306,755

Expense Breakdown

Grants Paid $1,091,762

Salaries & Benefits $3,941,104

Fundraising Expenses $783,724

Program Expenses $6,499,934

Other Expenses $2,845,050

TOTAL EXPENSES $7,877,916

Year-over-Year Comparison

	2024	2023	Change
Revenue	$8,306,755	$5,173,541	+0.6%
Expenses	$7,877,916	$6,628,767	+0.2%
Net Income	$428,839	$-1,455,226	-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

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

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

$264,609

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Dave Colson	Chair	6.00	Officer Director	$0	$0	$0
Margot Anne Kelley	Vice Chair	5.00	Officer Director	$0	$0	$0
Justin Jamison	Treasurer	4.00	Officer Director	$0	$0	$0
Alix Hopkins	Secretary	2.00	Officer Director	$0	$0	$0
Jason Bolton	Director	1.00	Director	$0	$0	$0
Amanda Bunker	Director	2.00	Director	$0	$0	$0
Steve Crane	Director	2.00	Director	$0	$0	$0
Caitlin Frame	Director	2.00	Director	$0	$0	$0
Lauren Giroux	Director	2.00	Director	$0	$0	$0
Don Perkins	Director	2.00	Director	$0	$0	$0
Tom Settlemire	Director	2.00	Director	$0	$0	$0
Drew Sigfridson	Director	2.00	Director	$0	$0	$0
Henry Whittemore	Director	2.00	Director	$0	$0	$0
Kristin Varnum	Interim President	40.00	Officer	$178,869	$23,007	$201,876
Stacy Brenner	President	40.00	Officer	$60,612	$2,121	$62,733

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	$8,306,755	$7,877,916	$27,539,021	$428,839
2024	$5,173,541	$6,628,767	$26,990,758	$-1,455,226
2023	$4,221,079	$5,419,196	$28,370,138	$-1,198,117
2022	$7,917,677	$7,131,158	$29,194,157	$786,519
2021	$9,589,606	$4,224,763	$29,241,466	$5,364,843
2020	$4,930,457	$6,912,455	$27,747,175	$-1,981,998
2019	$11,050,204	$6,700,237	$30,055,798	$4,349,967
2018	$2,792,002	$4,795,174	$26,320,137	$-2,003,172