University of Maine Foundation
78% goes to programs $9 to raise $100 Strong reserves Growing revenue
University of Maine Foundation is a 501(c)(3) organization based in Orono, Maine, registered in 1940, with $60,444,315 in FY2024 revenue. CharityIndex grades it A, and it directs about 78% of spending to programs.
Two Alumni Place, Orono, ME, 04469 EIN 01-6011501 Since 1940
Revenue (FY2024)
$60.4M
▼ 6.6% vs prior year
Education median: $200K
Expenses (FY2024)
$31.1M
Net assets
$447.1M
Employees
48
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
AProgram efficiency40% of the rating78% to programs · $9 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For University of Maine Foundation: 78% to programs · $9 to raise $100 earns a A on this criterion. See the exact thresholds →
B+Financial health25% of the rating173 mo reserves · +49% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For University of Maine Foundation: 173 mo reserves · +49% margin earns a B+ on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For University of Maine Foundation: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For University of Maine Foundation: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
Fundraising and endowment management for the benefit of the university of maine.
What they do
Distributions to trust, gift annuity and pooled income fund participants.
Distributions of gifts and endowment income to other qualified charities.
Contact & location
- Address
- Two Alumni Place, Orono, ME, 04469
- City
- Orono
- State
- Maine
- Category
- Education
- Subcategory
- Support Foundations & Fundraising
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $28.3M (FY2013) to $60.4M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $11.2MNet assets $447.1M
Operating margin
48.6%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$458.3M
Total liabilities
$11.2M
Net assets
$447.1M
Salaries & benefits
$5.7M
19% of expenses
Board members
8
8 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $60,444,315▼6.6% | $31,070,426▼5.5% | $447,093,141▲18.1% | $458,332,421▲17.3% | 990 |
| 2023 | $64,724,867▲57.9% | $32,864,307▼26.2% | $378,505,490▲19.5% | $390,581,135▲19.7% | 990 |
| 2022 | $40,999,640▲85.3% | $44,550,845▲272% | $316,872,718▼17.0% | $326,235,305▼16.9% | 990 |
| 2021 | $22,127,345▼57.4% | $11,985,982▼43.5% | $381,933,990▲5.8% | $392,570,813▲6.7% | 990 |
| 2020 | $51,911,153▲73.3% | $21,203,434▼2.0% | $360,846,819▲30.8% | $367,935,162▲30.1% | 990 |
| 2019 | $29,959,058▲2.4% | $21,628,075▲10.4% | $275,804,187▲3.4% | $282,791,391▲3.6% | 990 |
| 2018 | $29,245,131▼28.4% | $19,584,409▲9.5% | $266,673,216▲4.1% | $272,934,290▲3.9% | 990 |
| 2017 | $40,850,778▲107% | $17,883,907▲17.1% | $256,211,867▲12.9% | $262,569,841▲12.7% | 990 |
| 2016 | $19,762,322▲44.3% | $15,271,430▲14.4% | $226,999,051▲12.0% | $232,941,554▲11.8% | 990 |
| 2015 | $13,693,961▼29.9% | $13,343,356▲11.3% | $202,692,291▼3.4% | $208,441,203▼3.5% | 990 |
| 2014 | $19,531,661▼30.9% | $11,993,701▼9.6% | $209,910,575▼1.5% | $216,034,400▼1.6% | 990 |
| 2013 | $28,274,505 | $13,268,681▲57.6% | $213,073,618▲13.9% | $219,611,248▲13.5% | 990 |
| 2012 | — | $8,420,035▼17.9% | $187,133,874▲8.1% | $193,458,626▲7.6% | 990 |
| 2011 | — | $10,249,805 | $173,056,044 | $179,729,532 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Jeffery N Mills — $398,629 (1.28% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Jeffery N Mills | President/ceo | 40 | $398,629 |
| Kevin J Frazier | Vice President & Cfo | 40 | $205,850 |
| Sarah J Mcpartland-good | Vp & Foundation General Counsel | 40 | $183,145 |
| Patricia A Cummings | Senior Director of Philanthropy | 40 | $178,175 |
| Elizabeth M Erickson | Senior Director of Philanthropy | 40 | $166,288 |
| Joyce Kennedy | Senior Director of Philanthropy | 40 | $158,737 |
| Monique Hashey | Sr. Dir. of Annual Giving, Marketing, & Eve | 40 | $144,251 |
| Beth L Sturtevant | Director | 1 | — |
| Christopher P Keating | Director | 1 | — |
| David M Austin | Director | 1 | — |
| Donna L Hathaway | Director | 1 | — |
| Dorothy Foster Vachon | Director | 1 | — |
| Kenneth A Murray | Director | 1 | — |
| Kurt R Marston | Treasurer | 1 | — |
| Maria R Fuentes | Secretary | 1 | — |
| Robert A Strong | Chair | 1 | — |
| Todd D Saucier | Vice Chair | 1 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Prime Buchholz | Investment Consultant | $265,027 |
Grants received · $17.0M total
100 grants to University of Maine Foundation totaling $17.0M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Maine Community Foundation Inc | Education, arts | 2024 | $332,640 |
| Community Foundation of New Jersey | Scholarships, financial aid & scholar support services | 2024 | $287,063 |
| Morgan Stanley Global Impact Funding Trust Inc | Unrestricted general support | 2024 | $75,000 |
| American Online Giving Foundation Inc | General support | 2024 | $59,762 |
| The Seattle Foundation | Prison partnership project. | 2024 | $40,000 |
| Gs Donor Advised Philanthropy Fund For Wealth Management Inc | Education | 2024 | $25,000 |
| American Endowment Foundation | Educational | 2024 | $24,525 |
| Rockefeller Philanthropy Advisors Inc | Education | 2024 | $15,000 |
| Community Foundation of New Jersey | Universities, graduate schools or law schools | 2024 | $10,000 |
| Ayco Charitable Foundation | Education | 2024 | $5,500 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2023 | $1,215,827 |
| Maine Community Foundation Inc | Universities | 2023 | $599,993 |
| American Online Giving Foundation Inc | General support | 2023 | $345,327 |
| Vanguard Charitable Endowment Program | For recipient's exempt purpose | 2023 | $303,500 |
| The Chicago Community Trust | General support for programs, operations and other charitable purposes | 2023 | $243,283 |
Grants made · $22.2M in FY2024
6 grants totaling $22.2M in FY2024. All grants made by University of Maine Foundation →
| Recipient | Purpose | Amount |
|---|---|---|
| University of Maine System Inc | Distributions in support of the university of maine | $12,805,408 |
| University of Maine System Inc | Gifts transferred to the university of maine | $9,272,349 |
| Ahavas Achim-society of Brotherly Love | General | $37,000 |
| United Methodist Church | General | $21,567 |
| Potato Association of America | General | $16,467 |
| Town of Searsmont | Government | $10,783 |
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Frequently asked questions
- Is University of Maine Foundation a legitimate nonprofit?
- Yes. University of Maine Foundation is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 01-6011501, based in Orono, Maine. Donations are tax-deductible.
- What is University of Maine Foundation's EIN?
- University of Maine Foundation's Employer Identification Number (EIN) is 01-6011501.
- How much revenue does University of Maine Foundation report?
- University of Maine Foundation reported $60,444,315 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of University of Maine Foundation's spending goes to programs?
- University of Maine Foundation spends about 78% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does University of Maine Foundation have?
- CharityIndex grades University of Maine Foundation A, based on program efficiency and fundraising cost.
- How much does University of Maine Foundation's highest-paid employee make?
- The highest reported compensation on University of Maine Foundation's latest Form 990 is $398,629, paid to Jeffery N Mills (President/ceo).
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Data for University of Maine Foundation (EIN 01-6011501) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.