Central Maine Growth Council

Overview

Mission

The Growth Council was established to foster a robust regional economy in a collaborative manner in a mult-town community.

What it reported doing in 2024

Central Maine Growth Council was established to foster a robust regional economy in a collaborative manner in a multi-town community. It provides business counseling, assists business in getting financial resources and incentives, and partners with other organizations in the community.

Operating model

Revenue model
Grant-funded. 78% of the money available for current operations came from government grants.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

Nonprofit profile at a glance

EIN
010546258
IRS 990 coverage
2014–2024
Forms available
Form 990 2024, Form 990-EZ 2016
Headquarters
Waterville, ME, USA
Phone
2076807300
Rating confidence
Limited
Sector
Economic Development

Official website

The verdict

- This form does not report enough financial and governance detail to rate the organization. That is normal for this form and is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 61
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th 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; 63rd 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: 31.5%; rating input score 85; 85th percentile among comparable filings
  • Total-asset coverage ratio: 1.38; rating input score 53; 53rd percentile among comparable filings
  • Liabilities to assets ratio: 0.13; rating input score 38; 38th percentile among comparable filings
  • Officer compensation ratio: 26.4%; rating input score 9; 9th percentile among comparable filings

Growth

  • Program expense growth: 85.7% per year; rating input score 100; 98th percentile among comparable filings
  • Revenue growth: 26% per year; rating input score 100; 90th percentile among comparable filings
  • Asset growth: 28.2% per year; rating input score 100; 89th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 16 of 16 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $185K · 25 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 15 of 15 current checks pass
  • Schedules: 6 filed schedules · includes major donors, grants, executive pay, and related organizations
  • Filing history: 9 annual filings from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 5 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Leadership & pay

25 people listed

Highest reported compensation

  • Garvan Donegan (President & CEO): $184,938 total reported compensation
  • Nicole Timmins (Controller of Grants & Finance): $92,706 total reported compensation
  • Kimberly Lindlof (Executive Director): $30,122 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.