University of Maine Foundation

Overview

Mission

The University of Maine Foundation, acting as a separate organization, will work collaboratively with all entities to encourage philanthropic support for the University of Maine and other charitable organizations while carrying out the donor's wishes in perpetuity.

What it reported doing in 2024

Gifts and endowment income distributed for scholarships and general support for the benefit of the University of Maine.

Operating model

Revenue model
Donor-supported. 85% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 92% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

Nonprofit profile at a glance

EIN
016011501
IRS 990 coverage
2011–2024
Forms available
Form 990 2024, Form 990-T 2024
Headquarters
Orono, ME, USA
Phone
2075815100
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 74
  • Accountability: 100
  • Sustainability: 85
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 47.6%; rating input score 48
  • Program expense ratio: 78.2%; rating input score 78
  • Fundraising efficiency: $11.64 raised per $1 spent on fundraising; rating input score 45; 45th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 99.7%; rating input score 100; 42nd 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: 48.6%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 14.75; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 92; 92nd percentile among comparable filings
  • Officer compensation ratio: 5.6%; rating input score 13; 13th percentile among comparable filings

Growth

  • Program expense growth: 11.7% per year; rating input score 100; 80th percentile among comparable filings
  • Revenue growth: 10.4% per year; rating input score 100; 78th percentile among comparable filings
  • Asset growth: 6.8% per year; rating input score 100; 50th percentile among comparable filings

Details

  • Where the money goes: 47.6% of revenue deployed · 78.2% of spending went to programs
  • Governance: 8 of 8 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $24.3M in reported program spending
  • Leadership: top reported pay $430K · 17 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $265K reported
  • Consistency: 37 of 37 current checks pass
  • Schedules: 9 filed schedules · includes major donors, foreign activity, grants, executive pay, and related organizations
  • Filing history: 13 annual filings from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 13 filed money-flow records
  • Related organizations: 6 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.

Leadership & pay

17 people listed

Highest reported compensation

  • Jeffery N Mills (President/CEO): $430,469 total reported compensation
  • Kevin J Frazier (Vice President & CFO): $280,173 total reported compensation
  • Sarah J McPartland-Good (VP & Foundation General Counsel): $231,573 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.