Ignite Presque Isle

Nonprofit profile at a glance

EIN
861274227
IRS 990 coverage
2022–2025
Forms available
Form 990 2025, Form 990-T 2025
Location
Presque Isle, ME, USA
Phone
2077643747
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Rural Economic Development

Reported finances

Revenue
$3,392,680
Expenses
$3,769,903
Assets
$9,325,099
Liabilities
$1,681,447

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • LERAE KINNEY (CEO)

Highest reported compensation

  • LERAE KINNEY (CEO): $140,734 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Inspire community revitalization and innovation by promoting entrepreneurship in presque isle

What it reported doing in 2025

Our innovation center is ignite pi's inaugural project. We've created a store front space as an entrepreneurial nexus with the most innovative co- workspace in new england. We've just begun an impressive renovation plan to transform the store front property into the next generation of business in the heart of presque isle. Our center compliments existing businesses and services in the downtown district. We're promoting an entrepreneurial spirit to bring the community together for generations to come.

Operating model

Revenue model
Earned-program. 92% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 92
  • Accountability: 69
  • Sustainability: 35
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.4%; rating input score 89
  • Program expense ratio: 81%; rating input score 81
  • 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: 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: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -11.1%; rating input score 9; 9th percentile among comparable filings
  • Total-asset coverage ratio: 2.47; rating input score 65; 65th percentile among comparable filings
  • Liabilities to assets ratio: 0.18; rating input score 37; 37th percentile among comparable filings
  • Officer compensation ratio: 3.7%; rating input score 65; 65th percentile among comparable filings

Growth

  • Program expense growth: 11.2% per year; rating input score 100; 65th percentile among comparable filings
  • Revenue growth: -9.6% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: 7% per year; rating input score 100; 44th percentile among comparable filings

Details

  • Where the money goes: 89.4% of revenue deployed · 81% of spending went to programs
  • Governance: 11 of 11 board members independent · 2 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $3.1M in reported program spending
  • Leadership: top reported pay $141K · 12 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 4 filing years from 2022 to 2025
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • High — Accountability: Governance controls: 6 of 8 not reported.
  • High — Sustainability: Operating margin scored 9/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 37/100.