University of Southern Maine Found… - 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

1996

Legal Domicile

Principal Officer

Ainsley Newman Wallace

Phone

2077804708

Tax Period

2023-07-01 to 2024-06-30

University of Southern Maine Foundation, founded in 1996, is a community nonprofit in the Philanthropy & Grantmaking sector that reported $8.9M in total revenue in fiscal year 2023. Revenue decreased 10% compared to the prior year. Expenses of $20.2M exceeded revenue, resulting in a 127% operating deficit.

Mission

To actively build and steward resources in support of the University of Southern Maine's mission of education, research, and public service and to educate the public about the activities and programs of the University of Southern Maine.

Program Service Accomplishments

Program 1

Expenses: $18,120,997 Revenue: $1,847,571

Building on the momentum of the Great University Campaign, the USM Foundation secured additional funding for endowed scholarship funds, like the Promise Scholarship, and established new endowed...

Building on the momentum of the Great University Campaign, the USM Foundation secured additional funding for endowed scholarship funds, like the Promise Scholarship, and established new endowed scholarship funds to support USM students and their access to a high-quality public education, including USM's Access to Education Scholarship.Continued to raise philanthropic funds in support of the University's Portland Campus transformation, including capital funds in support of the McGoldrick Center for Career and Student Success (opened fall of 2023) and the Crewe Center for the Arts (opening fall of 2025).Received significant philanthropic investment in USM's Esports program, the largest club sport at USM and the largest collegiate Esports program in Maine, to support the construction of an Esports Arena in a renovated space on USM's Gorham campus.

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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 $5,826,991

Program Service Revenue $1,847,571

Investment Income $1,251,027

Other Revenue $0

TOTAL REVENUE $8,925,589

Expense Breakdown

Grants Paid $17,478,130

Salaries & Benefits $2,219,073

Fundraising Expenses $1,132,105

Program Expenses $18,120,997

Other Expenses $496,522

TOTAL EXPENSES $20,232,872

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,925,589	$9,872,134	-0.1%
Expenses	$20,232,872	$8,194,087	+1.5%
Net Income	$-11,307,283	$1,678,047	-7.7%

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

$409,342

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Stephen deCastro	Chair	0.00	Officer Director	$0	$0	$0
Dean Murray '87	Vice Chair	0.00	Officer Director	$0	$0	$0
Timothy Griffin '05 '12G	Treasurer	0.00	Officer Director	$0	$0	$0
Todd Chamberlain	Secretary	0.00	Officer Director	$0	$0	$0
Daniel Crewe	Director	0.00	Director	$0	$0	$0
Justin Alfond	Director	0.00	Director	$0	$0	$0
Kelly Barden	Director	0.00	Director	$0	$0	$0
Kenneth Blaschke	Director	0.00	Director	$0	$0	$0
Kelly Brewer '11	Director	0.00	Director	$0	$0	$0
Robert H Dodge	Director	0.00	Director	$0	$0	$0
Dajaun Eubanks	Director	0.00	Director	$0	$0	$0
Mo Ibourk '03 '05G	Director	0.00	Director	$0	$0	$0
Stephen Irish '81	Director	0.00	Director	$0	$0	$0
Daniel Kleban '04	Director	0.00	Director	$0	$0	$0
Mike Marocco '81	Director	0.00	Director	$0	$0	$0
Rebecca McKinnell '06	Director	0.00	Director	$0	$0	$0
Casey Prentice	Director	0.00	Director	$0	$0	$0
John Ryan	Director	0.00	Director	$0	$0	$0
Lois Skillings '91G	Director	0.00	Director	$0	$0	$0
Ian Slaymaker '07 PhD	Director	0.00	Director	$0	$0	$0
Ray Stevens PhD '86 14H	Director	0.00	Director	$0	$0	$0
Linda Varrell '00	Director	0.00	Director	$0	$0	$0
Dr Jacqueline Edmondson	Executive Officio	1.00	Director	$0	$0	$0
Rebecca Swanson Conrad	Affliliated Representative	1.00	Director	$0	$0	$0
Jana Magnuson	Volunteer Finance Committee	1.00	Director	$0	$0	$0
Ainsley Newman Wallace	President	40.00	Officer	$192,740	$47,793	$240,533
Corey Hascall	Vice President	40.00	Officer	$143,988	$24,821	$168,809
Erin Macey	Executive Director	40.00	Highest	$119,750	$42,170	$161,920

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	$8,925,589	$20,232,872	$49,556,091	$-11,307,283
2023	$9,872,134	$8,194,087	$57,792,646	$1,678,047
2022	$17,054,045	$7,721,875	$53,917,918	$9,332,170
2021	$17,108,196	$4,954,434	$49,206,133	$12,153,762
2021	$17,108,196	$4,954,434	$49,206,133	$12,153,762
2020	$6,793,300	$4,304,696	$31,008,162	$2,488,604
2020	$6,793,300	$4,304,696	$31,008,162	$2,488,604
2019	$7,421,962	$3,747,521	$28,488,474	$3,674,441

University of Southern Maine Foundation