Arnold Memorial Medical Building Society

Nonprofit profile at a glance

EIN
010500734
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Jonesport, ME, USA
Phone
2072639800
Rating
61
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$68,386
Expenses
$55,443
Assets
$650,664
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • William K Milliken (President)
  • Cary Carver (Vice-President)

People named in this filing

  • William K Milliken (President)
  • Cary Carver (Vice-President)
  • Julie Farris (Secretary)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provides & maintains a medical building to serve the citizens of area towns including Jonesport, Beals, Addison, Jonesboro and Columbia Falls ME.

What it reported doing in 2024

Scholarships of $1,000 each are awarded to qualifying high school seniors who reside in the towns served by the medical center and who are/will be attending a post-secondary institution. Further, the students must major in a medically related field of study. Funds are paid after satisfactory completion of their first semester of higher education. Scholarship recipients are chosen by the high school guidance counselors at the area schools. A scholarship of $500 may be awarded to a student who is majoring in a non-medical field if their high school does not have an eligible student majoring in a medically related field.

Operating model

Revenue model
Other-operating. 87% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 91% 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.

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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 36
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 69
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 40.9%; rating input score 41
  • Program expense ratio: 39.9%; rating input score 40
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 18.9%; rating input score 72; 72nd percentile among comparable filings
  • Total-asset coverage ratio: 11.74; rating input score 67; 67th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 5.7% per year; rating input score 100; 67th percentile among comparable filings
  • Revenue growth: -26.5% per year; rating input score 0; 15th percentile among comparable filings
  • Asset growth: -2.1% per year; rating input score 0; 30th percentile among comparable filings

Details

  • Where the money goes: 40.9% of revenue deployed · 39.9% of spending went to programs
  • Governance: 8 of 8 board members independent · 2 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $22K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 41/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 40/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.