Marginal Way Preservation Fund

Nonprofit profile at a glance

EIN
010957572
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Ogunquit, ME, USA
Phone
2076044884
Rating
54
Verdict
MIXED
Rating confidence
Moderate
Sector
Environmental Beautification and Aesthetics

Official website

Reported finances

Revenue
$1,023,827
Expenses
$291,967
Assets
$4,312,019
Liabilities
$12,335

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

Leadership & pay

21 people listed

Executive titles in this filing

  • CHARLIE HINDMARSH (PRESIDENT)
  • JOHN PHINNEY (PRESIDENT EM)

Highest reported compensation

  • ALLISON RAMSEY (EXECUTIVE DI): $120,000 total reported compensation

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

Overview

Mission

The marginal way preservation fund is a non-profit organization that raises money to fund an endowment whose mission it is to fund projects to repair, preserve and beautify the scenic coastal walkway located in the town of ogunquit, Maine, more particularly known as the marginal way. The marginal way was officially placed on the national register of historic places by the united states department of the interior on march 23, 2022, and is visited by hundreds of thousands of people each year who walk the path.

What it reported doing in 2024

The mwpf solicits contributions through fundraising activities. These contributions are used to fund the organization's endowment. Endowment earnings are then leveraged for projects related to beautify, improve or maintain the town of ogunquit, Maine's scenic coastal walkway, known as the marginal way.

Operating model

Revenue model
Donor-supported. 90% of the money available for current operations came from contributions and gifts.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 2
  • Transparency & Controls: 90
  • Accountability: 88
  • Sustainability: 82
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: $4.16 raised per $1 spent on fundraising; rating input score 14; 14th 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: 71.5%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 14.77; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 76; 76th percentile among comparable filings
  • Officer compensation ratio: 41.1%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: 21.4% per year; rating input score 100; 84th percentile among comparable filings
  • Revenue growth: 19.9% per year; rating input score 100; 85th percentile among comparable filings
  • Asset growth: 20.2% per year; rating input score 100; 82nd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 19 of 19 board members independent · 5 of 7 filing controls reported
  • Programs: 2 filed program accomplishments
  • Leadership: top reported pay $120K · 21 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 6 filing years from 2019 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Financial Efficiency: Fundraising efficiency scored 14/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Officer compensation ratio scored 3/100.