Friends of the Maine State Museum Inc

EIN: 223181040 501(c)(3) Arts, Culture & Humanities

Augusta, ME

Total Revenue
$232,829
Total Expenses
$415,722
Total Assets
$3,887,055
Net Assets
$3,887,055
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1992
Legal Domicile
ME
Principal Officer
Gay Grant
Phone
2072872304
Tax Period
2024-07-01 to 2025-06-30

Friends of the Maine State Museum Inc, founded in 1992, is a small nonprofit in the Arts, Culture & Humanities sector that reported $233K in total revenue in fiscal year 2024. Expenses of $416K exceeded revenue, resulting in a 79% operating deficit.

Mission

To preserve Maine's Heritage through programs, publications, and events that promote, advocate, and build support for the Maine State Museum.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $228,109
Program Service Revenue $3,760
Investment Income $836
Other Revenue $124
TOTAL REVENUE $232,829

Expense Breakdown

Grants Paid $0
Salaries & Benefits $100,828
Fundraising Expenses $154
Program Expenses $286,268
Other Expenses $314,894
TOTAL EXPENSES $415,722

Year-over-Year Comparison

2024 2023 Change
Revenue $232,829 $224,361 +0.0%
Expenses $415,722 $214,717 +0.9%
Net Income $-182,893 $9,644 -20.0%
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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Governance

Voting Members
11
Independent Members
11
Employees
4
Volunteers
25

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
3
$0
Total Directors
16
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Linda Frinsko Member 1.00
Director
$0 $0 $0
Joan Plummer Vice President/Secretary 5.00
Officer Director
$0 $0 $0
John Gregory Member 1.00
Director
$0 $0 $0
Catherine Leonard Member 1.00
Director
$0 $0 $0
Denise Lord Treasurer 5.00
Officer Director
$0 $0 $0
Roseann Marlett Member 1.00
Director
$0 $0 $0
Joseph R Phillips Member 1.00
Director
$0 $0 $0
Bernard Fishman Museum Director 1.00
Director
$0 $0 $0
Michael Barrett Commission Chair 1.00
Director
$0 $0 $0
Gregory Desjardins Commission Member 1.00
Director
$0 $0 $0
Gay Grant Commission Member, President 10.00
Officer Director
$0 $0 $0
Ellen Dyer Director of Memborship & Devlopment 1.00
Director
$0 $0 $0
Joe Reilly Member 1.00
Director
$0 $0 $0
Mary Sue Weeks Member 1.00
Director
$0 $0 $0
Aimee Keithan Member 1.00
Director
$0 $0 $0
Michael Fiori Member 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
2025 $232,829 $415,722 $3,887,055 $-182,893
2024 No data No data No data No data
2023 $4,109,834 $1,840,786 $3,666,310 $2,269,048
2022 $768,941 $364,201 $1,272,820 $404,740
2021 $489,184 $107,653 $937,857 $381,531
2020 $165,281 $248,124 $688,193 $-82,843
2019 $110,572 $143,558 $731,869 $-32,986
2018 $275,330 $266,010 $675,669 $9,320
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