Maine Alliance for Economic Growth

Nonprofit profile at a glance

EIN
934218630
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-N 2023
Location
Portland, ME, USA
Phone
2072530515
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$475,000
Expenses
$298,821
Assets
$176,179
Liabilities
$0

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

Leadership & pay

3 people listed

Executive titles in this filing

  • Curtis Picard (President)

People named in this filing

  • Curtis Picard (President)
  • Linda Caprara (Treasurer)
  • Quincy Hentzel (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

Advocate and develop legislation, regulations, and government programs that promote Maine's economic growth and thereby further the commnuity's overall welfare.

What it reported doing in 2024

The organization hosted and sponsored numerous events and activities promoting economic growth throughout the State of Maine.

Operating model

Revenue model
Earned-program. 100% 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 - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 61
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 66
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 56%; rating input score 56
  • Program expense ratio: 89%; rating input score 89
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • 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: 37.1%; rating input score 86; 86th percentile among comparable filings
  • Total-asset coverage ratio: 0.59; rating input score 28; 28th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 56% of revenue deployed · 89% of spending went to programs
  • Governance: 3 of 3 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $266K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 12 of 12 current checks pass
  • Schedules: 1 filed schedules
  • Contacts: How to reach this organization
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 56/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 28/100.