Our Katahdin

Nonprofit profile at a glance

EIN
472382072
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-N 2014
Location
Millinocket, ME, USA
Phone
2076189187
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Official website

Reported finances

Revenue
$5,863,898
Expenses
$2,466,753
Assets
$5,368,786
Liabilities
$3,508,087

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

Leadership & pay

9 people listed

Executive titles in this filing

  • Sean DeWitt (President)

Highest reported compensation

  • Stephen Sanders (Director of Mill Site Redevelopment): $134,193 total reported compensation

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

Overview

Mission

Our Katahdin assists with community development, downtown revitalization, and economic development in the Katahdin region of Maine.

What it reported doing in 2024

The Organization's main areas of focus are as follows: Community Development - Crowdsourcing ideas and volunteers to implement revitalization projects in the Katahdin region.Industry Development - Seeking to leverage the Katahdin region's assets to develop the economy in the industries of forest products, alternative energies, outdoor recreation, and the digital economy.

Operating model

Revenue model
Grant-funded. 87% 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.

The verdict

SUPPORTED - The filed numbers largely add up and most filed governance safeguards are in place. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 51
  • Transparency & Controls: 95
  • Accountability: 61
  • Sustainability: 71
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 37.5%; rating input score 38
  • Program expense ratio: 89%; rating input score 89
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 13th 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: Yes; rating input score 100

Accountability

  • Independent voting board: 42.9%; rating input score 43; 7th percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 57.9%; rating input score 94; 94th percentile among comparable filings
  • Total-asset coverage ratio: 2.18; rating input score 65; 65th percentile among comparable filings
  • Liabilities to assets ratio: 0.65; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 5.4%; rating input score 50; 50th percentile among comparable filings

Growth

  • Program expense growth: 24.7% per year; rating input score 100; 89th percentile among comparable filings
  • Revenue growth: 34.9% per year; rating input score 100; 95th percentile among comparable filings
  • Asset growth: 41.4% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 37.5% of revenue deployed · 89% of spending went to programs
  • Governance: 3 of 7 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $2.2M in reported program spending
  • Leadership: top reported pay $134K · 9 people listed
  • Highest-paid contractors: 5 contractors listed · $5.2M reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 6 filed schedules · includes major donors and related organizations
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 3 filed related-organization links
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Moderate — Financial Efficiency: Mission deployment rate scored 38/100.
  • Moderate — Accountability: Independent voting board scored 43/100.
  • Review — Accountability: Governance controls: Document-retention policy not reported.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.
  • Review — Sustainability: Officer compensation ratio scored 50/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.