Center for Regional Prosperity

What it reported doing in 2024

The center for regional prosperity enhances, develops, and promotes environmental initiatives, social priorities, and economic opportunities for the residents of greater portland by acting as a conduit between the work of the greater portland council of governments and the priorities of the philanthropic community in Maine and across the nation. As gpcog advances its economic, environmental, and social priorities at the local level, the center seeks out funding to extend the agency's capacity and effectiveness. When the center was established by the gpcog executive committee in 2018, its first projects centered on improving broadband infrastructure. This work spawned the Maine broadband coalition, which now operates independently. The Maine broadband coalition works to secure universal, affordable, and equitable access to broadband connectivity in the state of Maine. Between 2018 and 2022, the center sought and received grants to help the region address opioid misuse and substance use disorder, economic improvement, and mobility management. One of its biggest success stories was obtaining funding for gpcog's successful community transportation leaders program and the bus ambassadors program. The center more recently has been focused on addressing the region's housing crisis and reducing the number of individuals and families who are unhoused. The center has been especially focused on creating intentional transitional housing to help Maine become an equitable and prosperous place for all. In early fy23, the center launched the safe in Maine fund to catalyze and support the creation of transitional housing. The safe in Maine fund takes both public and private donations that will ultimately be used to help create transitional housing in the greater portland region. In early 2023, the cfrp partnered with the city of portland and developers collective, a local firm known for its work in affordable housing and emergency shelter, to apply for a grant to create a new 180-bed shelter in portland to address the growing population of people experiencing homelessness, including asylum seekers. The grant, which was awarded to the cfrp and its partners by the Maine state housing authority (mainehousing), has been used to convert a 26,000 square foot warehouse space into a 180- bed shelter with food and services on site. Shelter construction ended in late november 2023 and the shelter is now fully operational. This shelter will help the city of portland and its partner, the Maine immigrants' rights coalition, to provide shelter for asylum seekers while also freeing up space at the city's homeless services center for other individuals experiencing homelessness. In 2024 and beyond the cfrp will continue to try and attract funding from public, private and foundation sources in order to continue its mission and ensure growth and prosperity for the region.

Financial Efficiency

• Mission deployment rate: Limited
• Program expense ratio: 100%; rating input score 100

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
• Major donor itemization: Limited

Sustainability

• Operating margin: Limited
• Total-asset coverage ratio: 10.64; rating input score 72; 72nd percentile among comparable filings
• Liabilities to assets ratio: 0; rating input score 28; 28th percentile among comparable filings
• Officer compensation ratio: 0%; rating input score 51; 51st percentile among comparable filings

Growth

• Program expense growth: -1.5% per year; rating input score 0; 65th percentile among comparable filings
• Revenue growth: 87.9% per year; rating input score 100; 97th percentile among comparable filings
• Asset growth: 23.1% per year; rating input score 100; 91st percentile among comparable filings