Kennebec Valley Community Action Program FY2022 filing

Waterville, ME · Public charity (501(c)(3)) · Since 1965 · Human Services

✓ Tax-deductible Latest data FY2022
Revenue
$54.8M
▲ +34% vs prior year
Spent
$53.6M
To programs
95%
Net assets
$9.6M
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Form 990 for the fiscal year ending September 2022 (IRS tax year 2021).

Figures match the IRS filing checked 8/6/26 · see original: IRS

Status and standing

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Foundation funders?
1 funder — Franklin Savings Bank Community Development Foundation
$5K in the latest grant year.
Spent on programs?
95% to programs
Form 990 Part IX, latest filing.
Size and trend
$10–100M
↑ +34% vs prior year
Legal name (IRS)Hdr · item CKennebec Valley Community Action Program
EINHdr · item D01-0277678
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFNov 1965
Year of formationHdr · item L1965
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CWaterville, ME
NTEE classificationIRS BMFHuman Services (P200)
WebsiteHdr · item Jwww.kvcap.org

Where the money goes

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.95 Management & general $0.05 Fundraising $0.00
Program services95%$51.0M
Management & general5%$2.5M
Fundraising$77K
Total functional expensesLn 25$53.6M

Financial health

Revenue & expenses by yearFY2020–FY2024
Revenue
$54.8M
FY2022▲ +34%
Expenses
$53.6M
FY2022▲ +41%
Program efficiency
95%
of spending reaches programs
Operating runway
1.4mo
months of highly liquid reserves at operating expense rate
Surplus margin
+2%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Total assets
$18.1M
FY2022▼ -6%
Total liabilities
$8.6M
FY2022▼ -22%
Revenue less expensesPt I · Ln 19$1.3M
Total assetsPt X · Ln 16$18.1M
Program-expense ratioPt IX · col B95%
Voting members of governing bodyPt I · Ln 317
Independent voting membersPt I · Ln 417

Balance Sheet

Part X · end of year
CashLn 1$6.2M
Total assetsLn 16$18.1M
Total liabilitiesLn 26$8.6M
Total net assetsLn 32$9.6M
Months of cash on handcomputed1.4

Statement of Revenue

Part VIII
Contributions & grants$38.7M · 71%
Program service revenue$14.9M · 27%
Other revenue$992K · 2%
Contributions & grants71%$38.7M
Program service revenue27%$14.9M
Other revenue2%$992K
Investment income$243K
— government grantsLn 1e$38.2M
Total revenueLn 12$54.8M

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $6.3M · Operating expenses (Pt IX) $53.6M · Less non-cash grants $17K · Cash operating expenses/yr $53.6M
1.4 months
Where the money goes
Program services
Program services $51.0M · Total expenses $53.6M
95%
Management & General
Management & general $2.5M · Total expenses $53.6M
5%
Fundraising
Fundraising $77K · Total expenses $53.6M
0.1%
Cost to raise $1
Fundraising expense (3-yr avg) $29K · Solicited contributions (3-yr avg) $461K
$0.06 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $38.7M · Total revenue $54.8M
71%
Government reliance
Government grants $38.2M · Total revenue $54.8M
70%
Earned-income share
Program service revenue $14.9M · Total revenue $54.8M
27%
Investment reliance
Investment income $243K · Total revenue $54.8M
+0.4%
Program self-sufficiency
Program service revenue $14.9M · Total expenses $53.6M
28%
Growth & trend
Revenue growth (YoY)
This year $54.8M · Prior year $41.0M
+34%
Net-asset trend (YoY)
End of year $9.6M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $54.8M · Expenses $53.6M
+2%
Liabilities-to-Assets
Total liabilities — · Total assets $18.1M
—
Net-asset ratio
Net assets $9.6M · Total assets $18.1M
53%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $47K · Other securities (Pt X, ln 12) $1K · Total assets (Pt X, ln 16) $18.1M
0.3%
People & payroll
Highest Reported Total Compensation
Individual Cathleen Kershner · Reported title CAO · Highest reported compensation $144K · Total expenses $53.6M
0.3%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $16.3M · Total expenses $53.6M
30%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 95%——
Overhead ratio 5%——
Fundraising cost ratio 0.2%——
Revenue growth 34%——
Legal fee ratio 0.2%——
Accounting fee ratio 0.1%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
$144,106Pt VII · Sec A
$137,009Pt VII · Sec A
COO - Cfs
$122,373Pt VII · Sec A
COO - Cs & Ehs
$115,374Pt VII · Sec A
Controller
$108,496Pt VII · Sec A
$105,409Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Suzanne Walsh’s $160K as CEO is at the 24th percentile of top reported officer pay among 3122 $10–100M human services nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2020
Suzanne Walsh$159,581$148,962$145,638$137,009$125,018
Cathleen Kershner———$144,106$108,319
Tracye Fortin$141,486$131,077$131,724$122,373$110,433
Michele Prince$130,216$123,915$123,010$115,374$104,026
Michelle Lane$114,182$102,832———
Raymond Girourd——$111,584$105,409—
Patricia Walker$103,823$104,342$102,772$108,496$98,187
Pelton David$105,693————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Kennebec Valley Community Action Program executive salaries →

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Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a17
Independent voting membersPt VI · Ln 1b17
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Mission and programs

Partners with residents and entities to create solutions for poverty, strengthening individuals, families, and communities.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

3 program services account for $50.5M of program spending, described in the organization's own filed words · FY2021.
01

Energy & housing services is comprised of three divisions: (1) energy & housing services, (2) community initiatives, and (3) real estate development. The energy & housing services division works with individuals and families to improve energy efficiency, to reduce energy burden, to support affordable housing, and to sustain opportunities…

$25.6Mprogram expense
02

Community Services Is Comprised of Two Divisions

(1) social services, and (2) TRANSPORTATION.THE social services division implements the maine families home visiting program and the KENNEBEC/SOMERSET family enrichment councils. Maine families partners with expecting or new parents to ensure safe home environments and promote healthy growth and development.

$14.4Mprogram expense
03

Child & family services provides comprehensive, high quality early care and education for children ages 6 weeks to 5 years in public school based care, educare central maine, skowhegan early head start, homestart provider partners, and through home visiting throughout northern kennebec and somerset counties.

$10.5Mprogram expense

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Funders

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$5K
Grants paid · 31 grants · $93.1M · 2019–2024
Unitemized GrantFY2024$9,220,371
Unitemized GrantFY2024$1,684,708
Unitemized GrantFY2024$95,604
Unitemized GrantFY2024$86,744
Unitemized GrantFY2023$8,975,283
Unitemized GrantFY2023$2,694,643
Unitemized GrantFY2023$105,799
Unitemized GrantFY2023$98,464
Unitemized GrantFY2022$8,528,653
Unitemized GrantFY2022$3,641,629
Unitemized GrantFY2022$2,853,498
Unitemized GrantFY2022$1,937,178
Unitemized GrantFY2022$92,097
Unitemized GrantFY2021$17,797,771
Unitemized GrantFY2021$7,526,517
Unitemized GrantFY2021$3,109,711
Unitemized GrantFY2021$84,878
Unitemized GrantFY2021$68,097
See all 31 grants →

Filing history

YearRevenueExpensesChangeFiling
FY2024 $42.4M$40.9M-9% 990 PDF
FY2023 $46.7M$43.7M-15% 990 PDF
FY2022 Viewing $54.8M$53.6M+34% 990 PDF
FY2021 $41.0M$38.1M+38% 990 PDF
FY2020 $29.8M$27.5M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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