Maine Center for Economic Policy

Overview

Mission

The Maine center for economic policy provides citizens, policymakers, advocates, and media with credible and rigorous economic analysis that advances economic justice and prosperity for all Maine people.

What it reported doing in 2024

Research & education - mecep conducted analysis, education, and advocacy to advance public policies that improve mainets 'economic well-being'. 2024 accomplishments: earned 200+ media citations; published 4 major reports, 30 blog articles, and 8 opinion pieces; delivered 42 pieces of testimony to the Maine legislature; published 3 explainer factsheets; educated 265 people through events/public presentations; maintained daily social media content and published a monthly newsletter; and coordinated and participated in multiple coalitions and committees that advance economic justice.

Operating model

Revenue model
Grant-funded. 98% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 98% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

Nonprofit profile at a glance

EIN
223317572
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Headquarters
Augusta, ME, USA
Phone
2076227381
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Economics

The verdict

SUPPORTED - A large share of total spending goes to programs and most voting board members are independent. A relatively small share of available resources goes toward mission work and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 60
  • Transparency & Controls: 63
  • Accountability: 100
  • Sustainability: 58
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 57.8%; rating input score 58
  • Program expense ratio: 70.4%; rating input score 70
  • Fundraising efficiency: $9.77 raised per $1 spent on fundraising; rating input score 37; 37th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 19th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 50%; rating input score 50; 29th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: 19.2%; rating input score 75; 75th percentile among comparable filings
  • Total-asset coverage ratio: 1.03; rating input score 44; 44th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 56; 56th percentile among comparable filings
  • Officer compensation ratio: 11.8%; rating input score 31; 31st percentile among comparable filings

Growth

  • Program expense growth: 7.9% per year; rating input score 100; 55th percentile among comparable filings
  • Revenue growth: 8.3% per year; rating input score 100; 60th percentile among comparable filings
  • Asset growth: 10% per year; rating input score 100; 58th percentile among comparable filings

Details

  • Where the money goes: 57.8% of revenue deployed · 70.4% of spending went to programs
  • Governance: 9 of 9 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $959K in reported program spending
  • Leadership: top reported pay $160K · 10 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 31 of 32 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 annual filings from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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

10 people listed

Highest reported compensation

  • GARRETT MARTIN (EXECUTIVE DI): $160,272 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.