Maine Community Foundation

What it reported doing in 2024

Grantmaking. Maine Community Foundation (MaineCF, the Foundation) envisions a Maine that is a vibrant and equitable place where people and communities thrive. MaineCF strives to achieve this vision throughout all its programs and services. MaineCF partners with donors to accomplish their philanthropic goals in Maine by connecting them and their resources to opportunities in nonprofits, investments, and partnerships that strive to build a better Maine. The Foundation also works with nonprofit organizations, communities, government, and private sector leaders to address the significant issues that are important to people in Maine. Specifically, MaineCF holds more than 460 donor advised funds, 700+ scholarships, nearly 300 funds invested on behalf of nonprofits and 16 competitive grant programs all with the goal of meeting our vision of a vibrant and equitable Maine.In 2024, the Foundation provided more than $68 million in grants supporting charitable organizations to address several issues including climate, housing, economic opportunity, just and fair access to opportunities for all people and many more areas of focus. The $68 million in grants awarded in 2024 included $3 million in scholarships awarded to over 1,400 recipients for professional development, and undergraduate and graduate studies. It also included over 200 grants totaling $1.97 million from the Maine Community Foundation Community Building program, which engages communities across Maine to provide resources to nonprofits from the foundation's endowed county funds. Furthermore, grants given directly from donor advised funds through MaineCF's Giving Together program added 63 more grants and $343,824 to MaineCF's largest single competitive grant program.

Financial Efficiency

• Mission deployment rate: 85.3%; rating input score 85
• Program expense ratio: 86.1%; rating input score 86
• Fundraising efficiency: $21.15 raised per $1 spent on fundraising; rating input score 59; 59th percentile among comparable filings

Transparency & Controls

• Consistency checks: 94.4%; rating input score 94; 30th percentile among comparable filings
• Pay-setting controls: 5 of 6 controls in place; rating input score 83
  • Compensation committee: Pass
  • Independent consultant: Pass
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: 1 of 8 controls in place; rating input score 12
  • Claims monitoring procedures: Pass
  • Requires narrative reports: Fail
  • Conducts field audits: Fail
  • May suspend future funding: Fail
  • Requires financial reports: Fail
  • Conducts site visits: Fail
  • Requires grant agreements: Fail
  • May require repayment: Fail
• Grant itemization coverage: 81.4%; rating input score 81; 17th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 100%; rating input score 100; 76th percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 40.7%; rating input score 95; 95th percentile among comparable filings
• Total-asset coverage ratio: 9.81; rating input score 91; 91st percentile among comparable filings
• Liabilities to assets ratio: 0.19; rating input score 69; 69th percentile among comparable filings
• Officer compensation ratio: 2.9%; rating input score 40; 40th percentile among comparable filings

Growth

• Program expense growth: 10.4% per year; rating input score 100; 75th percentile among comparable filings
• Revenue growth: 9.2% per year; rating input score 100; 73rd percentile among comparable filings
• Asset growth: 7.6% per year; rating input score 100; 56th percentile among comparable filings