Maine & Company

Nonprofit profile at a glance

EIN
010504259
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Portland, ME, USA
Phone
2076532798
Rating confidence
Limited

Official website

Reported finances

Revenue
$828,885
Expenses
$769,228
Assets
$469,082
Liabilities
$16,643

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

Leadership & pay

34 people listed

Executive titles in this filing

  • Peter DelGreco (President & CEO)

Highest reported compensation

  • Peter DelGreco (President & CEO): $208,000 total reported compensation

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

Overview

Mission

Maine & Company is a private, non-profit business development sales organization. Its purpose is to improve Maine's success in attracting new business and expanding and retaining existing business by providing a focused, statewide sales effort done in collaboration with the public/private partners in economic development.

What it reported doing in 2024

Improve Maine's success in attracting new business and expanding business by providing a statewide sales effort done in collaboration with public and private partners in economic development.

Operating model

Revenue model
Membership-supported. 84% of the money available for current operations came from membership dues.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 74
  • Accountability: 69
  • Sustainability: 42
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 7.2%; rating input score 55; 55th percentile among comparable filings
  • Total-asset coverage ratio: 0.61; rating input score 28; 28th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 56; 56th percentile among comparable filings
  • Officer compensation ratio: 27%; rating input score 8; 8th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 3.9% per year; rating input score 100; 37th percentile among comparable filings
  • Asset growth: 8.6% per year; rating input score 100; 54th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 33 of 33 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $769K in reported program spending
  • Leadership: top reported pay $208K · 34 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 13 of 13 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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: 5 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 28/100.
  • Review — Sustainability: Operating margin scored 55/100.
  • High — Sustainability: Officer compensation ratio scored 8/100.
  • Review — Sustainability: Liabilities to assets ratio scored 56/100.