Main Street Skowhegan

Nonprofit profile at a glance

EIN
841714173
IRS 990 coverage
2016–2024
Forms available
Form 990 2024, Form 990-EZ 2015
Location
Skowhegan, ME, USA
Phone
2076122571
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Economic Development

Official website

Reported finances

Revenue
$1,335,767
Expenses
$1,439,412
Assets
$342,739
Liabilities
$76,729

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

Leadership & pay

16 people listed

Executive titles in this filing

  • KRISTINA CANNON (PRESIDENT & CEO)

Highest reported compensation

  • KRISTINA CANNON (PRESIDENT & CEO): $85,323 total reported compensation

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

Overview

Mission

To celebrate skowhegan's rich heritage while achieving the brightest future as a thriving economic, cultural, and recreational community where residents enjoy a high quality of life.

What it reported doing in 2024

Programs and events celebrating skowhegan's rich heritage while promoting the economic, cultural and recreational community.

Operating model

Revenue model
Grant-funded. 66% of the money available for current operations came from government grants.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 92
  • Accountability: 84
  • Sustainability: 22
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.2%; rating input score 81
  • Program expense ratio: 74.9%; rating input score 75
  • Fundraising efficiency: $6.2 raised per $1 spent on fundraising; rating input score 23; 23rd percentile among comparable filings

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: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -7.8%; rating input score 20; 20th percentile among comparable filings
  • Total-asset coverage ratio: 0.24; rating input score 11; 11th percentile among comparable filings
  • Liabilities to assets ratio: 0.22; rating input score 30; 30th percentile among comparable filings
  • Officer compensation ratio: 5.9%; rating input score 50; 50th percentile among comparable filings

Growth

  • Program expense growth: 26.3% per year; rating input score 100; 88th percentile among comparable filings
  • Revenue growth: 19.4% per year; rating input score 100; 85th percentile among comparable filings
  • Asset growth: 18.5% per year; rating input score 100; 79th percentile among comparable filings

Details

  • Where the money goes: 81.2% of revenue deployed · 74.9% of spending went to programs
  • Governance: 15 of 15 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $85K · 16 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 9 filing years from 2016 to 2024
  • 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 — Financial Efficiency: Fundraising efficiency scored 23/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 20/100.
  • High — Sustainability: Total-asset coverage ratio scored 11/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 30/100.
  • Review — Sustainability: Officer compensation ratio scored 50/100.