Greater Franklin Development Council FY2022 filing

Tax-deductible

Farmington, ME501(c)(3)Community DevelopmentEIN 01-0524770Revenue $914K in FY2022

On file with the IRSPo Box 107, 04938-0107 · Farmington, METax-exempt since Mar 2000Publicly supported charity — 170(b)(1)(A)(vi)

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GFDCs mission is to attract and assist businesses and entrepreneurs by advocating, promoting, and collaborating to support a sustainable and thriving community.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
$92K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $291K a year · 39% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$92K
to officers and key staff · 47% of spending
Concern: pay to officers and key staff is 47% of spending; over 30%.
Pt VII · Sec A
Cash reserves
82 mo
of spending, in cash
Looks good: 82.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $12K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$914K
+26% vs prior year
Spent
$198K
To programs
100%
Net assets
$1.4M
By yearFY2020–FY2025
Revenue
$914K
FY2022▲ +26%
Tap a bar for its year
Revenue by fiscal year
FY2020$217K
FY2021$725K
FY2022$914K
FY2024$1.0M
FY2025$886K
Expenses
$198K
FY2022▼ -8%
Tap a bar for its year
Expenses by fiscal year
FY2020$211K
FY2021$216K
FY2022$198K
FY2024$808K
FY2025$879K
Net assets
$1.4M
FY2022▲ +109%
Tap a bar for its year
Net assets by fiscal year
FY2020$218K
FY2021$648K
FY2022$1.4M
FY2024$3.7M
FY2025$3.6M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 2000.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $198K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

10 people listed on the 990; $92K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$92,500Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Charlie Woodworth’s $92K as Executive Director is at the 67th percentile of top reported officer pay among 1709 $100K–1M community development 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 · 1 named individual · Part VII

NameFY2022FY2021FY2020
Charlie Woodworth$92,500$77,500$90,000

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 Greater Franklin Development Council executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Attracts and assists businesses and entrepreneurs to build a thriving community.

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Provided by the organization

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1 program · $198K · in their own filed words · FY2022
01

GFDC was established by a group of local business people to strengthen economic development in the greater Franklin county area. Our goal is to create and retain quality employment opportunities by attracting new businesses, assisting local employers, and encouraging entrepreneurship.

$198Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2025
Total grants receivedfrom 1 funder$12K

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$914K
Ln 12
Gifts and grantsLn 1h$883K
Fees for servicesLn 2g$18K
Other incomeLn 4–11$14K
Money outPt IX
$198K
Ln 25
Programscol B$198K
Owns and owesPt X
$1.4M
net assets · Ln 32
Cash and savingsLn 1–2$1.4M
Total assetsLn 16$1.4M
LiabilitiesLn 26$0
PeoplePt VI, VII
10
listed · VII A
PaidVII A1
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$883K
Government grantsLn 1e$307K
Fees for servicesLn 2g$18K
Investment incomeLn 3$52
Other incomeLn 4–11$14K
Total revenueLn 12$914K
Assets in detailPt X, end of year
CashLn 1$1.4M
Cash and savings togetherLn 1–2$1.4M
Total assetsLn 16$1.4M
LiabilitiesLn 26$0
Net assetsLn 32$1.4M
OperationsPt I, VI
EmployeesI 52
VolunteersI 68
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$647K$1.4M
Total assetsLn 16$648K$1.4M
LiabilitiesLn 26$0$0
Net assetsLn 32$648K$1.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$92K$92K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$35K$35K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$28K$28K
Payroll taxesLn 10$11K$11K
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$450$450
Lobbying feesLn 11d$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$1K$1K
Advertising and promotionLn 12$4K$4K
Office expensesLn 13$8K$8K
Information technologyLn 14$1K$1K
RoyaltiesLn 15$0
OccupancyLn 16$7K$7K
TravelLn 17$1K$1K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$790$790
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$4K$4K
Other expenses (24a–d)Ln 24$2K$2K
All other expensesLn 24e$0
Total functional expensesLn 25$198K$198K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $886K$879K$7K$3.6M 990 PDF
FY2024 $1.0M$808K$217K$3.7M 990 PDF
FY2023 Not on file
FY2022 Viewing $914K$198K$717K$1.4M 990 PDF
FY2021 $725K$216K$509K$648K 990 PDF
FY2020 $217K$211K$6K$218K 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
See the full FY2022 990 (6 parts)
Part I · Summary $914,212 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $695,704$882,520
I-9 Program service revenuePrior year $14,250$18,000
I-10 Investment incomePrior year $34$52
I-11 Other revenuePrior year $15,082$13,640
I-12 Total revenuePrior year $725,070$914,212
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $157,967$167,435
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $57,650$30,087
I-18 Total expensesPrior year $215,617$197,522
I-19 Revenue less expensesPrior year $509,453$716,690
Part VI · Governance 9 of 9 board members independent, 3 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $914,212 across 7 lines filed
VIII-1e Government grants$307,000
VIII-1f All other contributions, gifts and grants$575,520
VIII-1h Total contributions, gifts and grants$882,520
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $18,000$18,000
VIII-3 Investment incomeExcluded from tax $52$52
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)$13,640
VIII-12 Total revenueRelated to mission $18,000 · Excluded from tax $52$914,212
Part IX · Statement of functional expenses $197,522 across 30 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $92,500$92,500
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $35,489$35,489
IX-8 Pension plan contributions$0
IX-9 Other employee benefitsPrograms $28,021$28,021
IX-10 Payroll taxesPrograms $11,425$11,425
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting feesPrograms $450$450
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $1,117$1,117
IX-12 Advertising and promotionPrograms $4,257$4,257
IX-13 Office expensesPrograms $7,803$7,803
IX-14 Information technologyPrograms $1,352$1,352
IX-15 Royalties$0
IX-16 OccupancyPrograms $7,398$7,398
IX-17 TravelPrograms $1,428$1,428
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsPrograms $790$790
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 InsurancePrograms $3,798$3,798
IX-24 Other expenses (24a–d)Programs $1,694$1,694
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $197,522 · Management $0 · Fundraising $0$197,522
Part X · Balance sheet $1,354,830 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $646,599$1,353,272
X-4 Accounts receivableStart of year $1,558$1,558
X-16 Total assetsStart of year $648,157$1,354,830
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $648,157$1,354,830
X-32 Total net assets or fund balancesStart of year $648,157$1,354,830
X-33 Total liabilities and net assetsStart of year $648,157$1,354,830
Part XI · Reconciliation of net assets $1,354,830 net assets at year end
XI-1 Total revenue$914,212
XI-2 Total expenses$197,522
XI-3 Revenue less expenses$716,690
XI-4 Net assets at start of year$648,157
XI-8 Prior period adjustments−$10,017
XI-10 Net assets at end of year$1,354,830

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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