Edward H Daveis Benevolent Fund

Nonprofit profile at a glance

EIN
010473137
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Ellsworth, ME, USA
Phone
2076679735
Rating
61
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$300,667
Expenses
$158,169
Assets
$2,531,560
Liabilities
$0

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

Leadership & pay

6 people listed

Executive titles in this filing

  • Deborah Ellwood (MCF President & CEO)

Highest reported compensation

  • Deborah Ellwood (MCF President & CEO): $366,339 total reported compensation
  • Brendon Reay (Treasurer/MCF CFO (start 12/2024)): $249,679 total reported compensation
  • Michele Camarco (Treasurer/MCF CFO (end 10/2024)): $214,422 total reported compensation

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

Overview

Mission

Support the Maine Community Foundation (MCF) and its charitable and educational purposes.

What it reported doing in 2024

The Edward H. Daveis Benevolent Fund benefits nonprofit organizations serving the greater Portland area. The Fund currently focuses grantmaking efforts on organizations in the geographic area that work with: (1) young children aged birth to eight, their families and teachers, and (2) youth leadership programs for students through high school. Collaboration between and among organizations is encouraged. Requests for discrete projects are preferred over those for general operations.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - Most voting board members are independent and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 40
  • Transparency & Controls: 61
  • Accountability: 100
  • Sustainability: 80
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 33.9%; rating input score 34
  • Program expense ratio: 64.4%; rating input score 64
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 9th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 88.2%; rating input score 88; 51st percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

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: 47.4%; rating input score 91; 91st percentile among comparable filings
  • Total-asset coverage ratio: 16.01; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 48%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: -0.2% per year; rating input score 0; 30th percentile among comparable filings
  • Revenue growth: 11.9% per year; rating input score 100; 77th percentile among comparable filings
  • Asset growth: 1.9% per year; rating input score 100; 33rd percentile among comparable filings

Details

  • Where the money goes: 33.9% of revenue deployed · 64.4% of spending went to programs
  • Governance: 3 of 3 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $102K in reported program spending
  • Leadership: top reported pay $366K · 6 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 13 of 14 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes grants and executive pay
  • Filing history: 11 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 11 filed money-flow records
  • Related organizations: 13 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.

Key Signals

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

  • Moderate — Financial Efficiency: Mission deployment rate scored 34/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 4/100.