MAINE CENTER FOR ECONOMIC POLICY

EIN: 223317572 501(c)(3) Social Science

AUGUSTA, ME

Total Revenue
$1,272,092
Total Expenses
$1,499,772
Total Assets
$1,081,376
Net Assets
$1,027,950
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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
1994
Legal Domicile
ME
Principal Officer
GARRETT MARTIN
Phone
2076227381
Tax Period
2023-01-01 to 2023-12-31

MAINE CENTER FOR ECONOMIC POLICY, founded in 1994, is a community nonprofit in the Social Science sector that reported $1.3M in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $1.5M exceeded revenue, resulting in a 18% operating deficit.

Mission

THE MAINE CENTER FOR ECONOMIC POLICY ADVANCES EQUITY AND PROSPERITY FOR ALL MAINE PEOPLE THROUGH ISSUE-BASED ANALYSIS, EDUCATION, AND ADVOCACY.

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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 (2023)

Revenue Breakdown

Contributions & Grants $1,240,195
Program Service Revenue $5,301
Investment Income $26,293
Other Revenue $303
TOTAL REVENUE $1,272,092

Expense Breakdown

Grants Paid $11,000
Salaries & Benefits $1,342,733
Fundraising Expenses $213,176
Program Expenses $1,143,917
Other Expenses $146,039
TOTAL EXPENSES $1,499,772

Year-over-Year Comparison

2023 2022 Change
Revenue $1,272,092 $1,144,593 +0.1%
Expenses $1,499,772 $1,386,595 +0.1%
Net Income $-227,680 $-242,002 -0.1%
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

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Governance

Voting Members
10
Independent Members
10
Employees
13
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
5
$148,861
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
GARRETT MARTIN EXECUTIVE DI 34.00
Officer
$123,282 $25,579 $148,861
BARBARA BURT CHAIR 2.00
Officer Director
$0 $0 $0
LUCY VAN HOOK VICE-CHAIR 2.00
Officer Director
$0 $0 $0
PAMELA COX TREASURER 2.00
Officer Director
$0 $0 $0
BEN CHIN SECRETARY 2.00
Officer Director
$0 $0 $0
SANDRA BUTLER MEMBER 1.00
Director
$0 $0 $0
MAULIAN DANA MEMBER 1.00
Director
$0 $0 $0
MARCUS HUTCHINS MEMBER (LEFT 1.00
Director
$0 $0 $0
JESSICA MAURER MEMBER 1.00
Director
$0 $0 $0
STACY MITCHELL MEMBER 1.00
Director
$0 $0 $0
MATT SCHLOBOHM MEMBER 1.00
Director
$0 $0 $0
LEE WEBB 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
2024 No data No data No data No data
2023 $1,272,092 $1,499,772 $1,081,376 $-227,680
2022 $1,144,593 $1,386,595 $1,302,237 $-242,002
2021 $1,641,319 $1,163,682 $1,534,214 $477,637
2020 $1,253,370 $1,032,344 $1,048,645 $221,026
2019 $1,418,762 $1,219,404 $832,880 $199,358
2018 $990,024 $1,047,375 $629,452 $-57,351
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