THE MAINE HERITAGE POLICY CENTER

EIN: 223888250 501(c)(3) Education

PORTLAND, ME

Total Revenue
$1,946,538
Total Expenses
$1,731,079
Total Assets
$891,365
Net Assets
$642,704
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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
2002
Legal Domicile
ME
Principal Officer
MATTHEW GAGNON
Phone
2073212550
Tax Period
2024-01-01 to 2024-12-31

THE MAINE HERITAGE POLICY CENTER, founded in 2002, is a community nonprofit in the Education sector that reported $1.9M in total revenue in fiscal year 2024. Revenue grew 15% year-over-year, indicating healthy expansion. Expenses of $1.7M left a modest 11% surplus.

Mission

TO FORMULATE AND PROMOTE CONSERVATIVE PUBLIC POLICIES BASED ON THE PRINCIPLES OF FREE ENTERPRISE; LIMITED, CONSTITUTIONAL GOVERNMENT; INDIVIDUAL FREEDOM; AND TRADITIONAL AMERICAN VALUES.

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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 $1,935,062
Program Service Revenue $9,171
Investment Income $13,340
Other Revenue $-11,035
TOTAL REVENUE $1,946,538

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,011,272
Fundraising Expenses $266,554
Program Expenses $1,392,548
Other Expenses $719,807
TOTAL EXPENSES $1,731,079

Year-over-Year Comparison

2024 2023 Change
Revenue $1,946,538 $1,699,340 +0.1%
Expenses $1,731,079 $1,409,240 +0.2%
Net Income $215,459 $290,100 -0.3%
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

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Governance

Voting Members
11
Independent Members
11
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
4
$284,107
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MATTHEW GAGNON CEO 40.00
Officer
$275,339 $8,768 $284,107
WILLIAM BOESCHENSTEIN TREASURER 0.20
Officer Director
$0 $0 $0
LARRY RUBINSTEIN DD DIRECTOR 0.20
Director
$0 $0 $0
SUSAN DENCH DIRECTOR 0.20
Director
$0 $0 $0
TIMOTHY BRYANT ESQ SECRETARY 0.20
Officer Director
$0 $0 $0
SCOTT FORREY DIRECTOR 0.20
Director
$0 $0 $0
JEFFREY KANE DIRECTOR 0.20
Director
$0 $0 $0
JASON ONEY DIRECTOR 0.20
Director
$0 $0 $0
CHRISTOPHER A PIERCE DIRECTOR 0.20
Director
$0 $0 $0
THE HONORABLE DEBRA PLOWMAN DIRECTOR 0.20
Director
$0 $0 $0
THE HONORABLE AMY VOLK DIRECTOR 0.20
Director
$0 $0 $0
SCOTT WELLMAN CHAIRMAN/PRE 0.20
Officer 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 $1,946,538 $1,731,079 $891,365 $215,459
2023 $1,699,340 $1,409,240 $693,463 $290,100
2022 $1,063,765 $1,017,008 $363,655 $46,757
2021 $1,075,647 $940,028 $318,158 $135,619
2020 $688,189 $655,594 $188,791 $32,595
2019 $639,746 $674,147 $123,221 $-34,401
2018 $599,535 $717,288 $121,916 $-117,753
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